Retirement Planning & QNUPS

Fiduciary Wealth Team

Retirement Planning - When is a pension not a pension?

I joke of course but not only is a QNUPS – qualifying non-UK pension scheme- a potentially tax efficient investment vehicle for British expats to hold non existing pension assets, it comes with one almighty bonus which is the fact that the assets once invested are safe from UK IHT under current legislation.

You see the one thing that most British expats forget is that they remain liable for UK IHT on their worldwide assets for a considerable time and maybe for life despite becoming tax resident in another jurisdiction. This liability can be a timebomb with UK IHT coming in at 40% when the nil rate band is breached (£325K for individuals and £650K for couples).

So if you can provide yourself with a tax efficient investment vehicle which you can access as a traditional pension scheme and at the same time protect your estate from IHT then you can relax knowing that your financial affairs are in a better place.

When is a pension not a pension? I think you have the answer above. Speak to our team on +34 951 319 727 to find out how a QNUPS could boost your pension provision and reduce your IHT