What is the timeline for access to funds once transferred where a potential penalty will not apply?
A. An individual whose UK tax-relieved rights have been transferred to a QROPS could be liable to an unauthorised payments charge unless when a payment is made to or in respect of the individual by the QROPS he/she is not resident for tax purposes in the UK and has neither been UK resident in that UK tax year nor in any of the previous five tax years. Q. If a transfer was originally received by a QROPS and then subsequently transferred to a non-QROPS, what are the taxation implications ? Does the period that the member has been not resident in the UK have any impact? A. The individual would be liable to an unauthorised payments charge unless when the subsequent transfer was made he/she was not resident for tax purposes in the UK and had neither been UK resident in that UK tax year nor in any of the previous five tax years. Q. If a member draws benefits in Australia within first 5 years but draws 25% as Cash, with remaining fund invested but income withdrawals made in line with Australi
