PENSIONS professionals in Guernsey appear to still be upbeat about the prospects for their industry in the wake of a crackdown on Qrops by the UK government.

A briefing yesterday morning held by law firm AO Hall was well attended as the industry prepared for an update today from the Guernsey Association of Pension Providers.

Gapp is coordinating the response to the UK government following the publication of proposed new Qrops laws which could close down the industry in the island.

AO Hall group partner Paul Buckle, pictured, presented an overview on the HMRC proposals and suggested a few potential solutions for the island to get around the crux of the proposals – unequal treatment for residents and non-residents on the taxation of pension payments.