Everything in Spanish for the bilingual child

Todo en español para el niño bilingüe

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Bilingual Journey carries all the Spanish educational products needed to raise a bilingual child: Spanish books, Spanish music, videos, bilingual educational software, electronic toys, Spanish board games, Spanish activity books, puzzles, and much more.

Our latest Booklet – 3 Minute Guide to QROPS for People Who Want a Better Pension

If you’ve been looking into ways that you can maximise your pension return as a non-resident of the UK then QROPS pension program could be just the answer. It’s possible to transfer your existing pension into a QROPS and it’s possible that you’ll have less tax to deal with – resulting in a bigger growth.

What is QROPS?

QROPS is an acronym for Qualifying Recognised Overseas Pension Scheme. These scheme are run under regulations from the HMRC and there are a number of rules that a scheme that is recognised by HMRC has to adhere to:

  • The scheme must be regulated a s pension scheme, it must also be recognised as a pension scheme for tax purposes in the jurisdiction that it’s located
  • The QROPs scheme must be open to residents of the jurisdiction
  • You must be a non-resident of the UK (or plan to move within 12 months) in order to take out a QROPS
  • At least 70% of the QROPS fund must be used to provide pension income
  • You can set up the QROPS at any time between the ages of 18 and 75, however the age of 55 must be reached prior to any benefits being withdrawn
  • The QROPS must follow the reporting rules of the HMRC

Why would you want to use a QROPS?

Before you go any further, in order to qualify you need to either be already located outside of the UK or planning to move within 12 months. It allows people to contain a selection of investments for example, cash, bonds, investment funds, insurance funds, unit trusts and property. The real benefit comes from being able to select financial investments to put into your pension pot that can later be redeemed with less tax to pay.

What jurisdictions are they in?

The QROPS can be in any jurisdiction, however when you select one you must do your homework to ensure that it is in a jurisdiction that is politically and financially sound. The true benefits come from selecting a jurisdiction that has a beneficial tax system – think Guernsey, Jersey, Isle of Man. However, the QROPS must offer access to the scheme to local residents and it must also be easy to join the scheme and it must not be hidden by difficult scheme rules.

In order to qualify for the QROPS, you need to provide evidence that you are resident outside of the UK or that you plan to be.

What happens if my circumstances change?

Remember that the rules of the QROPS restricts how much you can take out as a lump sum and this has to be part of the rules of the scheme. You are allowed to take out a maximum of 30%, but keep in mind that if you take more than 25% then you could be charged a tax by the HMRC of up to 55% of the amount that you receive.

If you take any payment from the QROPS, then the scheme holders will inform the HMRC just in case there is any need to charge you tax.

If you decide to move back to the UK then your QROPS can stay where it is ie offshore but it will be subject to UK rules and regulations.

Why is it a better way to hold a pension?

There are several reasons why it can result in a better financial outcome for you. Your QROPS will be subject to the tax laws of the jurisdiction and if you can find one that is financially beneficial, then your QROPS will benefit. When you die, you can transfer the contents to your named beneficiaries.

We personally choose only the products of the highest educational value and quality, and we have reviewed each product in detail on this site. We are adding new titles every week and the specials on sale are constantly changing, so bookmark this page and visit often! One of the latest booklets is the latest guide to QROPS which will be in multiple languages very soon.

Costs to send books

Flat rate of $8.95 to ship your entire order to all the states in the United States. For all other Countries please contact us so we can give you a quote.

You can find further shipping costs at the DHL website