We are sure that QNUPS, with their significant tax advantages, are going to play a very important part in the financial plans of those considering leaving the UK or those already resident overseas. The combined benefit of QROPS, which can receive a transfer from a UK pension plan and QNUPS which can hold most other types of investable wealth is a powerful tool when it comes to putting into place an effective tax efficient strategy for expatriates or those considering exiting the UK.
One important element of QNUPS is that as a bona fide pension scheme they are currently outside of the EU Savings Directive which is under review following a revised Council Directive, submitted at the end of 2009, aimed at closing loopholes and preventing tax evasion. The proposal looks to expand the Directive to include many types of collective investments, but not qualifying retirement plans, and to be able to look right through offshore companies, trusts and foundations to ensure tax on savings income is applied.
If you have investable assets within an offshore company, trust or foundation and you are worried it might be caught by an increasingly intrusive Directive now could be an excellent time to shelter these within the relative safety of QNUPS.
To find out how you or your clients can benefit from investing in The Alpha Star QNUPS or our Guernsey based QROPS please contact us either on tel +350 200 50982 or by email at wealth@fiduciarywealth.gi.
