Five things you need to know about Qnups
10 Jul 17
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.
1. Aggressive tax planning
Properly arranged Qnups are not designed to magic tax away. The trustees pay income tax at the rate applicable to trusts – just like thousands of overseas trust arrangements known to HMRC and which have been put together by settlors and advisers as an acceptable, transparent structure designed to be efficient, yes, but aggressive, no.
