QNUPS Benefits

A QNUPS refers to a Qualifying Non UK Pension Scheme. A QNUPS is available to anyone who is either UK-resident or UK-domiciled, Non-Resident or Non-Domiciled but has investment assets in the UK.

The Benefits of having a QNUPS

  • A QNUPS, unlike other pension schemes, does not just accept contributions from a financial source (i.e. pensions/savings, shares, cash), it can also consist of property and assets – it can also include other items of value i.e. fine wines, antiques
  • If you have shares in a Private Company these can be placed in such a Trust and the dividend income and any resultant Capital Gains would be sheltered from both Corporation/income tax and CGT
  • Contributions can also come from your own savings or investments – not just from your income
  • There is no upper age limit for contributions
  • There is no requirement for the QNUPS to be situated in a country where there is a double-taxation agreement – thus it is outside HMRC’s jurisdiction
  • Like a UK Pension scheme you cannot ordinarily access any part of the funds before age 55. If you need to do so, however, it may be possible to get a loan from the scheme.
  • There is no lifetime maximum limit eligible for relief – unlike other pension schemes
  • If you are into buying investment property ( it is essential that all property holdings have a rental income) Stamp Duty may be avoided on the purchase of the property
  • Dividend income remitted back into the QNUPS Trust avoids Income Tax
  • Any growth of funds/investments within the QNUPS is free from Capital Gains Tax
  • If you have IHT concerns, then a QNUPS is a legitimate way of avoiding Inheritance Tax

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