QNUPS
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I had a representative from a Gurney company visit me yesterday to discuss QNUPS.
The idea seemed 'almost'' too good to be true, and we know what that usually means !
I would be interested to hear from anyone who has detailed info on QNUPS.
Thanks
John
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I have recently transferred my company pension pot to a QROPS with the trustee based in Malta and the funds based in Isle of Man. Guernsey has been struck of the list of approved QROPS providers by HMRC for some contaventions of rules related to tax free pension pots.
QNUPS are similar to QROPS and have very similar benefits in repsect of income and inheritance tax benefits for UK expats living outside of the UK.
Barry
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John just make sure you are getting advice from a Regulated person
However do expect to pay between 150 and 200 pounds an hour for the right advice
HMRC are really cracking down on these ROGUE companies willy nilly transfering PENSIONS taking huge commissions and one day HMRC catching up with you for some TAX relating to unauthorised payments.
I have heard of entire funds been wiped out just be CAREFUL from your POSTS you seem like a very SENSIBLE guy anyway
Regards
Rod
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Yes, take specialist advice with something like QNUPS. Its complex and only suitable for a small number of people, also they are for Non pension assets unlike a QROPS which is a transfer for UK pension assets.
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take specialist advice with something like QNUPS.
Well that's the problem, all the 'experts' probably want to sell the poroduct. Hence my post here
Both my sons are accountants in the UK but I want to know more about the product before I ask them, as they will have to spend time researching it as its not their specialism.
Thanks guys.
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Johnzx, QNUPS is not a product but in essence a form of trust for your assets except uk pension.It really is suitable for high net worth individuals only so ask yourself if you really need this type of trust or whether an investment in something more mainstream is better. I wouldn't of thought this forum would give you the accurate advice on QNUPS compared with a specialist trust adviser etc. Below is an article that gives you an overview. http://www.shelteroffshore.com/index.php/offshore/more/shelter-offshore-independent-guide-qnups-10816
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