QNUPS CASE STUDY

Please be aware that assets that cannot be liquidated to provide you with an income or physical assets that do not provide a regular income stream, will almost certainly invalidate your scheme for IHT purposes. Private Equity — held indirectly through a separate wholly owned offshore company Commercial Real Estate — held indirectly through a separate wholly owned offshore company or LLP Assets can be held in any denomination. Whilst QNUPS can offer benefits when used appropriately , this is a complex area of financial planning and it is imperative you seek advice from a specialist before making financial decisions that could have far reaching implications. You should always take independent tax advice, as your personal circumstances may mean the above comments should be constructed as tax advice. A safe and secure investment The QNUPS scheme and its administrator are subject to a triple-layered regulatory system in the Isle of Man, a country renowned world-wide for its strength of regulation as well as political and financial stability.

I really valued the opportunity to be able to discuss what I was planning with an someone who could give an independent perspective. Whilst the money placed in a QNUPS will not attract tax relief on the contributions, it will be considered outside of the estate for IHT purposes, in much the same was as any other pension scheme. This will allow investments to be managed within the following categories: QNUPS are tax efficient. It is therefore very important that either an actuarial report or advice from a suitably qualified independent financial advisor or accountant is obtained before a QNUPS is created and funded. I found the session with the consultant to be very helpful in that it helped allay any concerns I had around my choice to manage my pension post-Brexit.

Residential property, antiques and even fine vintage wines are accepted. For a free financial review of your retirement planning or wealth preservation needs, contact us today and speak to an expert.

QNUPS Case Study – Mr Jones

acse Tim Shallcross, Head of Business Development at Castletown based fiduciary and pension group Optimus Limited is to present a key message on the benefits of its new Turkish International Pension Plan as well as why the Isle of Man is a jurisdiction of choice in Istanbul later this week.

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qnups case study

Contributions Another one of the benefits is the contributions is unlimited and can be made from a variety of sources. It is therefore very important that either an actuarial report or advice from a suitably qualified independent financial advisor or accountant is obtained before a QNUPS is created and funded. There is also a double taxation agreement with the UK.

Other points to consider Double Tax Treaties. To review our Privacy and Cookie policy, please click here. Malta is a prime example of such a jurisdiction. Contributions of assets can be made in cash or in specie and benefits can be taken from the age of The full capital growth of your assets will be passed on to your beneficiaries.

QNUPS – Why QNUPS can play a role in estate and legacy planningFirst-Equitable

Non-UK investments roll up gross in the Cqse. Malta is a qnupss example of such a jurisdiction Note July This summary is of a general nature only and is not intended to be relied upon as, nor to be a substitute qjups professional advice, or used in formulating any business decisions without first seeking such advice. Follow us on social media.

Castletown based Fiduciary and Pension firm Optimus Fiduciaries Limited are pleased to announce donations to three local charities. Transfer of actual assets however, could trigger a taxable gain. In addition, it enables you to pass on any surplus funds to your beneficiaries in the most tax efficient manner.

They may be reluctant to contribute to restrictive local schemes or perhaps work in tax free countries such as the Middle East.

What is the tax position on contributions? This summary is of a general nature only and is not intended to be relied upon as, nor to be a substitute for professional advice, or used in formulating any business decisions without first seeking such advice. This is very advantageous as it has two significant issues. What level of contribution is acceptable?

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qnups case study

Whilst QNUPS can offer benefits when used appropriatelythis is a complex area of financial planning and it is imperative you seek advice from a specialist before making financial decisions that could have far reaching implications. Overview of any fees and charges should you wish to engage the advisor. By using our website, you casd our use of Cookies. What expats say about our experts. There should be no CGT issues where casd are made from cash.

Failure to do so, or take only a nominal income, may involve tax implications as described above. Free, informal guidance on the options available to you.

Having not sought approval from HMRC and not being in qnps position to accept UK pension funds, the only reporting issues to be considered would be the domestic ones in the territory in which it is established. Our free introduction service will connect you with a hand-picked independent financial advisor that can assist you with pensions and retirement planning for expats.

No liability is accepted for any dtudy arising from any transactions embarked upon in connection with this summary. I really valued the opportunity to be able to discuss what I was planning with an someone who could give an independent perspective. What is the income tax position on withdrawals? The benefits referred to in this summary may vary according to residency and domicile.

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