troy79

Hi Andrew Thanks for the reply I am with Perpetual. Not entirely happy with them - fees and service. My initial plan was to move to an industry super fund but the more research I've done the more I think an SMSF would suit me better as I am a reasonably experienced investor. An over 55 SMSF will probably be the way to go once I reach 55. That is only 18 months for me, so not much point in moving it now (buy and sell spread) even if I could. Meanwhile I will monitor the current QROPS situation for any change. Once again thanks for your input - it is always very helpful. Regards Troy

HI Andrew This is all getting a bit confusing. I transferred my UK pension to a QROPS scheme in 2010 but I have not yet fulfilled the 5 full tax years. I wish to transfer my funds to another QROPS provider or even a SMSF. (AGE ONLY 53) Does the new fund require the new ROPS label? or is it sufficient that they were QROPS before all this 'blew up' Kind Regards Troy

Hi Andrew Great reading your posts - very informative. I have transferred my UK pension to AUS; 5 years not quite expired yet. Can I move the funds to a different company provided they are also Qrops qualified? Regards Troy

Many thanks for the advice.

I'm sure this will already have been covered on here but I cannot find it. If I return to the UK and leave some money in Aus earning interest what are the implications re the ATO. I know I would be liable to pay tax in the UK on worldwide income but would there be an Australian tax liability and how would I pay it? IE Would I still have to complete an Australian Tax return even though no longer tax resident? Troy

HGT One more thing that I forgot to mention. Before I received advice from the accountant friend I also found something on the HMRC website. [h=2]Exempt assets - when you don't pay Capital Gains Tax[/h] Some assets aren't liable to Capital Gains Tax at all because they’re exempt. These include: your car personal possessions worth up to £6,000 each, such as jewellery, paintings or antiques stocks and shares you hold in tax-free investment savings accounts, such as ISAs and PEPs UK Government or 'gilt-edged' securities, for example, National Savings Certificates, Premium Bonds and loan stock issued by the Treasury betting, lottery or pools winnings personal injury compensation foreign currency you bought for your own or your family's personal use outside the UK Not sure that the last one is meant to relate to the circumstances we are discussing but it can be read that way 'if you want to' Regards Troy

The advice was from an accountant who is a friend of a relative. His advice was specific to my circumstances, all my assets are in cash and will be moved back to the Uk before I return. He did mention that if you have CGT assets bought in Aus and then sell them when you have moved back to UK (and become UK tax resident) you may be liable for UK capital gains, but he was refering to shares/bonds rather than the currency itself. I think Jorgons' post above describes the currency aspect clearly. Hope this helps, but best to get specific advice for your own circumstances.

Thanks for the reply jorgon. I have taken advice since my initial posting, your post explains the situation clearly and is exactly the advice I received. My residency is clear cut so no problem there.

Hi All First Post. We migrated to Oz in 2007, now for various reasons we have decided to return to UK, possibly permanently - maybe just for a few years. My question is; I brought all my money here in 2007 at $2.50 to the pound and stand to make quite a big foreign exchange profit when I transfer the money back at $1.50. All well and good but will the uk taxman be entitled to any of it. Regards Troy79