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Posted Tue, 12 Sep 2023 01:02:01 GMT by Wendy1234
If a QNUPS is deemed to be set up for non-genuine purposes, what is the penalty applied and is this paid by the estate?
Posted Thu, 05 Oct 2023 10:25:37 GMT by HMRC Admin 25
Hi Wendy1234,
A Qualifying Non-UK Pension Scheme is a pension fund to be used only upon retirement. 
There may be penalties if a QNUPS is not used as a retirement fund – these are determined and enforced on a case-by-case basis.
Thank you. 


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