Refresher course: A handy guide to QNUPS and QROPS

Everything you need to know about transferring pensions abraod

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Clear on your QNUPS and QROPS? Keeley Paddon, head of technical at SimplyBiz, provides a refresher course.

Qualifying Non-UK Pension Schemes (QNUPS) were introduced as part of interitance tax regulations that came into force in February 2010. The Inheritance Tax (QNUPS) Regulations 2010 (SI 2010/0051)to be specific. The new rules aim to retrospectively restore inheritance tax (IHT) protection for UK pension funds that transfer to a Qualified Recognised Overseas Pension Scheme (QROPS). This feature was, unfortunately, omitted from the original Finance Act 2004 regulations, hence the need for the new rules.  QNUPS are suited to individuals who are: • Expats planning to retire back t...

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