A Qualifying Non – UK Pension Scheme (QNUPS) is an overseas pension that falls with the definition contained in section 271A of the inheritance tax act and the inheritance tax regulations 2010. The legislation restored inheritance tax protection to certain Non – UK Pension Schemes that are broadly equivalent to UK pension schemes.
Who Would Consider a QNUPS.
Taxation of the QNUPS
Further Information please contact
Iain Quenault – + 44 1534 484480
Email – Iain@glenq.com
Taxation on Benefits paid by a QNUPS
Loans to members
Restricted to one Offshore Investment Bond
Unrestricted Investment options (subject to Trustee Approval)
Activity and service fees are charged on specific activities undertaken by the Trustees and Plan Administrator. Activity and Service fees are in addition to the Annual Responsibility Fee and list below.
£100 per contribution (minimum contribution of £1000)
Changes to named beneficiaries
£100 per notification
Investment Transaction Charges:
Any deals placed directly with the Discretionary Investment manager – Free
Changing investment platform / manager – Time spent basis.
Additional charges may apply to certain investments (subject to Trustee approval) eg. property, unlisted shares, syndicates etc.
General correspondence other than directly related to the establishment.
Fee based charge on time spent basis.
Exit Administration Fees