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16 November 2010
Issue:
4281
/
Categories:
Comment & Analysis
, EFRBS
, Guernsey
, Isle of Man
, Jersey
, QNUPS
, QROPS
, Inheritance Tax
, Investments
Tax reliefs are changing again. ALISON VINE considers whether QNUPS might be the cure
KEY POINTS
- QROPS and QNUPS and the relevant conditions.
- The inheritance tax advantages of QNUPS.
- The limitations on scheme contributions.
- Scheme income and gains and UK tax liabilities.
- Scheme rules in Guernsey Jersey and the Isle of Man.
Last month the Government announced pension reforms that were welcome in some respects because they simplified those that the previous adminstration had heralded.
Nevertheless the overall impact was disheartening. The net effect is that many higher-rate taxpayers will be forced to adhere to levels of relief for pension contributions that are out of sync with their levels of income and that will not allow for the adequate provision of pension cover to meet their lifestyle needs.
And while not necessarily relevant to higher rate savers this all comes at a time when...
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