LAW changes designed to keep Guernsey’s pensions industry alive will be detailed on Friday.

The States Income Tax office has been working with representatives from the Guernsey Association of Pension Providers to overcome proposed rules from HMRC in the UK which could signal a halt to the island’s thriving Qrops business.

The proposals have not been publicly revealed outside the membership of Gapp, but are understood to involve a proposed change in the law to remedy the UK’s concerns about inequitable treatment of the taxation of pensions received by island residents – who are taxed on them – and those who have their pension here but live elsewhere, who are not.

Some industry experts, such as Paul Buckle, pictured, from law firm AO Hall, say that there are up to five possible solutions, all of which would involve a law change.