Since HM Revenue & Customs (HMRC) introduced the Qualifying Non-UK Pension Scheme (Qnups) in 2010, there has been much interest but little uptake of these as standalone pensions. Initially, Qnups were regarded as inheritance tax (IHT) planning vehicles. However, the primary purpose must be to provide retirement benefits. The limitations on how these benefits can…
Despite a fanfare at launch, seven years on the Qualifying Non-UK Pension Scheme has not proved hugely popular even though it can offer useful advantages.
For years, qualifying non-UK pension schemes (Qnups) have been seen as a niche product relegated to the realms of ‘aggressive tax planning’, says Martin Hall, director of Isle of Man-based pension provider Optimus. Here he reveals five reasons why it’s time for advisers to re-evaluate their position.
Guernsey’s decision to update its pension regulations so that it includes international schemes could be to support growth in the Qnups market, according to David White, partner at The Qrops Bureau.
Given the recent dramatic changes to rules governing overseas pension transfers, Martin Hall, the director of Isle of Man-based pension provider Optimus, gives his tips on what to consider when using an international pension scheme.
In this second instalment on Qnups in wealth planning, the director of Isle of Man-based pension provider Optimus, Martin Hall, runs through a case study where Qnups are the right solution for the client.
In this first instalment of a two-part series on Qnups in wealth planning, director of Isle of Man-based pension provider Optimus, Martin Hall says the retirement solutions are great for those restricted by the dwindling lifetime allowance cap.
Isle of Man-based pension provider Optimus has launched a new qualifying non-UK pension scheme (Qnups) aimed at wealthy individuals hit hard by the UK’s lifetime allowance cap as well as the annual tax taper.
STM Group has entered into a conditional agreement to acquire UK Sipp provider London & Colonial and its subsidiaries for nearly £5.4m ($7.2m, €6.4m).
UK citizens will still be able to transfer their pensions to Europe via a qualifying recognised overseas pension scheme (Qrops) despite Britain voting to leave the European Union, says Alan Kentish, interim chief executive of STM Group.
John Batty, technical sales manager at Boal & Co, looks at the current offshore retirement funding solutions and how they work for UK residents in light of recent regulatory changes.
The Guernsey-based international pensions business of Carey Group is to be acquired by Overseas Trust and Pension.
