QNUPS- What Does it Offer?

QNUPS- What Does it Offer?

QNUPS- What Does it Offer?

If you have been planning for your IHT, look no further. QNUPS gives you all the required protection. The moment you transfer any of your assets to the qualifying scheme, you are assured of shelter from inheritance taxes. However, in this case, you need not wait for 7 years to enjoy the benefits; your heirs can get access to the whole of your assets without having to part even a single penny to the taxman. Apart from this, the other big advantage of making an investment in this scheme is that your retirement savings can grow without attracting CGT. So, it is like a double bonus, giving you freedom from the shackles of inheritance taxes and CGT.

QNUPS is not just restricted to countries that have a double taxation treaty with UK. This means there is no obligation to report to HMRC and therefore HMRC is not concerned with your funds invested in such a scheme and has no access to it and also you get to choose from a large number of countries offshore that can accommodate your QNUPS. Another thing about the scheme that attracts investors is flexibility in its working. For example, there is no limit on the maximum contribution that can be made into the scheme. Similarly, there is no maximum age limit to invest in the scheme. Also there is no requirement that the investment into the fund must be made only out of earned income. Even your personal property can be invested. Consequently, this pension scheme benefits more investors than one can think of.

Under a QNUPS, you also have the option to take a cash lump sum and income during your lifetime and the balance of your funds can be enjoyed by your successors after your death without having to pay any taxes. The scheme also gives you the opportunity to reap the benefits of your investments in the currency of your choice, thereby helping you avoid any form of currency fluctuation risk. With expert advice, one can get sufficient knowledge on UK pension schemes and QNUPS enabling you to significantly improve your tax position.

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