The Knowledge Centre

Pension recycling – consultation on a reduction in the Money Purchase Annual Allowance from April 2017 Pension flexibilities introduced in April 2015 gave savers the ability to access their pension pots as best suits their needs.  However at the same time the concept of an MPAA (Money Purchase Annual Allowance) was introduced.  The means that once […]

Going nuts about QNUPS (and QROPS)…the movie ETC Tax director Andy Wood was recently interviewed by LexisNexis’ Malcolm Skinner on the whats and whys of international pension schemes. This included both Qualifying Non-UK Pension Schemes (“QNUPS”) and Qualifying Recognised Overseas Pension Schemes (“QROPS”). The interview covers: The main types of offshore pension scheme recognised by […]

What is a QNUPS? A Qualifying Non-UK Pension Scheme (QNUPS) is not a product, although a product may be designed such that it is a QNUPS. Apologies for going all Confucius on you dear reader, however, a QNUPS is merely a tax status. The QNUPS categorisation comes in the first instance from the IHT code. […]

Pensions – an entrepreneurs flexible friend Introduction Many entrepreneurs have a difficult relationship with pension schemes. The tax relief being at a high price for many due to loss of control and restrictions on the use of the money and the timing and form of the benefits. There has been a relaxation of the form […]

CASE STUDY: QROPS We have recently just finished providing tax advice to a client who holds his money in a former QROPS (Qualifying Recognised Overseas Pension Scheme) held in Guernsey (this was ‘de-listed) as part of HMRC’s action against the jurisdiction a few years ago. The advance provided a review of his current options around […]

Pension Led Funding (PLF): Part four – frequently asked questions (FAQs) So, if you’ve got this far in our series, then very well done! In this, our fourth and final blog on Pension Led Funding, we summarise some of the FAQs How much do I need to have in my existing pension schemes to be able […]

Pension Led Funding (PLF): Part three – the terms of the loan This is the third party in our series of blogs on Pension Led Funding (PLF). This note concentrates on the precise nature of the loan. The first blog provided a general overview and the previous one set out how a scheme is set […]

Pension Led Funding (PLF): Part two – Setting up the Scheme This blog follows on from our earlier ‘Introduction to PLF’ earlier in the week which provided a general overview of the planning and one or two practical examples.   Background On the basis that a financial adviser has provided a suitability report for the planning […]

Pension Led Funding (PLF): Part One – An introduction to PLF Introduction This is the first in a series of four blogs on Pension Led Funding (PLF). In our view, PLF represents an excellent tool for entrepreneurs looking to obtain finance for their businesses beyond the traditional sources. What is pension-led funding (PLF)? PLF is […]