Structuring & Fiduciary Services – Case Study 2

  1. Home
  2. »
  3. An Introduction to Family Office Services
  4. »
  5. Structuring & Fiduciary Services
  6. »
  7. Structuring & Fiduciary Services – Case Study 2

A non-UK domiciled High Net Worth client that we provide tax compliance services to asked for our help in relation to his pension planning. The client wanted to retire abroad and had amassed a significant value in a variety of different pension schemes, including Registered Pension Schemes in the UK and International Pension Plans (“IPPs”) in Jersey.

We analysed the tax treaties in place between the UK and Jersey and the retirement jurisdictions the client had shortlisted, specifically Portugal and Italy.

It became clear that a far more favourable tax treatment would be achieved if a specialist non-UK pension scheme known as a “QROPS” was established in Malta and the funds from the various pension schemes transferred there, prior to distributing the funds from Malta to the client in either Italy or Portugal.

We coordinated the entire process for the client, from drafting an initial proposal through to securing the specialist pension tax advice (UK and Italian/Portuguese) as well as acquiring quotes from pension administrators in Malta.  We acted as the main point of contact between the client and the professional service firms chosen, driving the entire implementation process through to successful completion.