Guernsey: Crowds Flock To Hear Why Guernsey Is Cream Of The QROPS
Last Updated: 29 September 2009

More than 250 delegates attended a seminar in London showcasing Guernsey’s position as the jurisdiction of choice for Qualifying Recognised Overseas Pension Schemes (QROPS).

The event was hosted by Guernsey Finance – the promotional agency for the Island’s finance industry and held at the Grange St Pauls Hotel in central London.

Peter Niven, Chief Executive of Guernsey Finance, said: "The numbers were remarkable. They show how QROPS are very much in the mind of IFAs, lawyers and accountants in the UK looking to service their clients who want to leave the UK and so that they can tax efficiently manage their pension schemes within an overall Guernsey scheme.

"It's a product of the moment. This is a real coup for Guernsey to get so many people out to listen to our first seminar on QROPS. We will certainly repeat it to a wider audience."

Delegates heard from Richard Green, Deputy Director of Income Tax for the States of Guernsey; Roger Berry, Managing Director of the Concept Group; Paul Buckle, Group Partner at Carey Olsen; David Denton, UK Head of Sales for Royal Skandia; and Deborah Moon, Technical Development Manager, Royal London 360°.

The team tackled key issues, such as the pensions environment pre and post ‘A Day’, some of the myths surrounding QROPS, the position of Her Majesty’s Revenue and Customs (HMRC) – especially the relationship with Guernsey, Guernsey’s taxation regime and the other advantages of QROPS schemes through providers in Guernsey.

Jenny Coles, Director of Operations for Human Resources, Royal Bank of Canada, London, said: "It was very interesting and very useful. It came across very much that Guernsey is complying with the HMRC. We are conservative and we like everything to be above board. We don't want any unknowns, but something that can be administered properly."

The main presentations were followed by a Q&A session and then a drinks and canapés networking reception sponsored by Intertrust.

Recommended attendees were tax lawyers, accountants, independent financial advisers (IFAs), SIPP/SASS providers, personal pension providers and specialist pension firms, although it was open to all.

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