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.
The UK government’s consistent reduction of the annual and lifetime allowances has not been popular but has happened because the books must be brought closer towards balance.
A very small number of registered UK schemes (e.g. SSASs) and offshore bonds are used in what might be seen as an aggressive way but the overwhelming majority are welcomed and encouraged by lawmakers for the positive contribution they make to the financial planning ecosystem. The same is true of Qnups.
