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Gibraltar vetoes flexible access to retain 30/70 rule on Qrops

• State legislators hold last-minute talks with HMRC to ensure status of schemes as UK regulators tighten rules

• Decision defies widespread industry view that flexible drawdown was required by a fund to qualify as a Qrops

Gibraltar has retained its rule allowing up to 30% of a Qrops fund to be taken tax free, despite a widespread industry view that HM Revenue & Customs requires full flexible access for all qualifying schemes.

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