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I have a derecognised QROPS in Guernsey.  My QROPS provider informs me that there is no problem with my withdrawing (up to) all of the money (albeit with them taking a small percentage cut).  I could then reinvest elsewhere and save the QROPS provider's annual charge which is not insignificant.

 

The QROPS has been open over 10 years, so there's no reporting to HMRC.

 

Is it OK for me to close my QROPS? Or will the UK taxman want a cut?

 

(Or should I wait until the government publishes its rules for flexible drawdown for QROPS? But will these apply to ex-QROPS?)

 

Any experts out there? Or anyone know where I could go for a definite answer?

 

Thank you.

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