Planning for the Upcoming Changes before the April 2017
Deadline
The new rules will mean that IHT is charged on all UK
residential property, including property held indirectly by
non-doms through a structure such as an offshore company or a
trust. As such, QNUPS could prove an effective IHT vehicle for
those affected.
What is a QNUPS?
QNUPS are Qualifying Non UK Pension Schemes which came about as
a result of UK HM Revenue & Customs (HMRC) legislation to
ensure that the same inheritance tax protection given to registered
pension schemes is available to qualifying non-UK pension
schemes.
What are the Advantages of a QNUPS?
- QNUPS may enable the member to
mitigate both local wealth taxes during their lifetime and
succession taxes on their death.
