QNUPS - Introduction

Qualifying non-UK Pension Schemes (QNUPS) were finally confirmed on 15th February 2010 via an HMRC issued ‘Statutory Instrument SI 2010/51’, following the insertion of a new clause from the Finance Act 2008, (“qualifying non-UK pension scheme” inserted into IHTA 84 by FA2008-S92-Sch29-para 18[8])

With effect from this date it became possible for individuals to make post tax contributions to a QNUPS, whereby providing themselves with a fund which will grow free of Income & Capital Gains, and provide valuable additional pension benefits, as well as protection from Inheritance Tax.

As non-UK approved schemes, QNUPS do not automatically confer these benefits, but if properly structured in the right jurisdiction attractive advantages may be made.

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