Umbrella Pension Trust

A UNIQUE RECORD OF SUCCESS

DOES IT WORK ?21 YEARS SUCCESSFUL USE YES

AUTHOR OF LEADING TEXTBOOKS ABOUT THE PLANS

YES

USE IN-HOUSE EXPERTISE YES

NOT RELIANT ON ‘BOUGHT IN’ SCHEME YES

ENDORSED BY LEADING COUNSEL YES

FEES INSURED YES

KNOWN & DISCLOSED TO HMRC YES

NEVER SUCCESSFULLY CHALLENGED BY HMRC YES

A UNIQUE RECORD OF SUCCESS

OUTSIDE FA 2011 YES

NO TAX ON LOANS YES

FOR REGISTERED PENSION SCHEME FUNDS

YES

IHT DEDUCTION FOR LOANS AT DEATH

YES

ASSET BECOMES FREE OF PENSION LAW

YES

FUNDS STAY IN UK YES

TAX FREE ROLL UP OF TRUST FUND

YES

CLIENT MANAGES OWN FUNDS

YES

TRUST FUND IHT FREE YES

CLIENT’S WILL CONTROLS SUCCESSION

YES

LOANS ALLOWED YES

FULL DISCLOSURE TO HMRC YES

UNIQUE FEATURES & BENEFITS

JUST LIKE A GOLF CLUB:MEMBERS CLUB TOGETHERTO SHARE THE BENEFITS• PROVEN PENSION TECHNOLOGY • SHARING LEGAL & ADMIN FEES• REDUCES COST FOR MEMBERS• £1,295 ADMINISTRATON FEE ON APPLICATION

OR £1,495 FOLLOWING TRANSFER• JUST 10% FEE ON TRANSFER• AND 1% P.A. FOR 5 YEARS• PLUS £200 A YEAR

ALL ADMINISTERED BY A UK PENSION ADMINISTRATION COMPANY

IT’S A MEMBERS CLUB

UMBRELLA PENSIONS TRUSTOpinion

1 The basic rule laid down by Section 91(1) of the Pensions Act 1995 is that entitlements, or accrued rights, to pensions under occupational pension schemes are inalienable, and in particular that they cannot be assigned, commuted or surrendered.2 However, this is subject to a number of exceptions set out in Section 91(5), including that in paragraph (b) of that sub-section, namely:– “a surrender, at the option of the person in question [i.e. the person who is entitled, or has an accrued right, to a pension under an occupational pension scheme] for the purpose of:– (i) providing benefits for that person’s widow, widower or dependant, or (ii) acquiring for the person in question entitlement to further benefits under the scheme”.3 It is striking that whereas (ii) dealing with the acquisition of further benefits by the person in question requires them to be benefits “under the scheme”, (i) does not do so. This is a short and to some extent impressionistic question of construction, but in my opinion there is no basis for implying into (i) a requirement that the benefits for the widow, widower or dependents should be under the scheme. Read literally (i) does not impose such a requirement and if the drafter had intended it to extend to both limbs it would have been easy to make the words “under the scheme” govern them both; it would simply have been a matter of moving those words to a new line. And looking at the matter purposively, I cannot see why any such implication should be necessary.4 For the sake of completeness I should add that under Section 91(7) the list of exceptions in Section 91(5) is subject to Section 159 of the Pension Schemes Act 1993 which makes guaranteed minimum pensions inalienable in any circumstances.

8 New SquareLincoln's Inn

LondonWC2A 3QP

Tel · +44 (0)20 7306 0102

Fax · +44 (0)20 7306 0095

WHAT PENSION SCHEMES CAN I TAKE TRANSFER MONEY FROM ANY REGISTERED OR GOVERNMENT SCHEME

CAN I TAKE TRANSFER MONEY FROM A QROPS YES

CAN I TAKE TRANSFER MONEY FROM AN IRISH REGISTERED SCHEME

YES

CAN I TAKE TRANSFER MONEY FROM MULTIPLE SCHEMES YES

DO I HAVE TO LIVE OR REMAIN IN THE UK FOR UPT TO WORK NO

CAN I TAKE THE TRANSFER VALUE IN CASH OR IN ASSETS – LIKE PROPERTY YES

IS THERE ANY STAMP DUTY OR VAT ON TRANSFERRING PROPERTY NO

CAN I TAKE A TRANSFER VALUE AFTER RETIREMENT AGE YES [WITH SOME LIMITATIONS]

CAN I TAKE MY TAX FREE LUMP SUM BEFORE TRANSFERRING YES: BUT NOT AS TAX EFFICIENT AS USING URT

ONCE I HAVE COMPLETED THE UPT PROCESS, CAN I REJOIN THE OLD SCHEME DEPENDS ON THAT SCHEME’S RULES

TRANSFERS: TECHNICAL Q & A’s

A. JOIN: JOIN UMBRELLA PENSION SCHEME

B. TRANSFER:TRANSFER FUNDS TO UMBRELLA PENSION SCHEME

C. SURRENDER BENEFITS: TRANSFERRED FUNDS AUTOMATICALLY BECOME THE PROPERTY OF YOUR OWN TAX EXEMPT COMPANY

A-B-C SUMMARY

ALL ADMINISTERED BY A UK PENSION ADMINISTRATION COMPANY

UMBRELLA PENSIONS TRUSTYOUR OWN COMPARTMENT IN A CRUISE LINER

1

2

3

n

YOUR SHARE OF THE UMBRELLA

TRUST FUND

BELONGS TO YOU

AND YOUR FAMILY

UNDER THE

TRUST DEED

AND CAN NEVER BELONG TO

ANYONE ELSE

UMBRELLA TRUST

OFFSHORE FIDUCIARY MANAGER

OFFSHORE

FIRST: CREATE YOUR OWN PERSONAL MANAGEMENT COMPANYMEMBER’S

PERSONAL MANAGEMENT COMPANY

MEMBER’S PERSONAL MANAGEMENT

COMPANY

MEMBERCONTROL

WE MAKE YOUR UK MANAGEMENT COMPANY TAX EXEMPT

UK

OFFSHOREUMBRELLA TRUST

OFFSHORE FIDUCIARY MANAGER

SIGN FIDUCIARY SERVICES AGREEMENT

LEGAL OWNERSHIP IS

VESTED IN TRUST MONEY NEVER

LEAVES UK

MEMBER’S PERSONAL

MANAGEMENT COMPANY

PENSION ADMINISTRATION COMPANY

MEMBER

OFFSHORE FUND MANAGER

REGISTERED UMBRELLA PENSION

SCHEME

EXISTINGREGISTERED PENSION

SCHEME(S)

FIDUCIARYAGREEMENT

A. JOIN: JOIN UMBRELLA PENSION SCHEME

JOIN AS MEMBER

MEMBER’S PERSONAL

MANAGEMENT COMPANYJOIN AS EMPLOYER

OFFSHORE

UK

UMBRELLA TRUST

EXISTINGREGISTERED PENSION

SCHEME(S)

£££

TRANSFER OF FUNDS: CAN BE CASH, SHARES,

PROPERTY ETC

B. TRANSFER: TRANSFER FUNDS TO UMBRELLA PENSION SCHEME

MEMBER

OFFSHORE FUND MANAGER

REGISTERED UMBRELLA PENSION

SCHEME

FIDUCIARYAGREEMENT

MEMBER’S PERSONAL

MANAGEMENT COMPANY

OFFSHORE

UK

UMBRELLA TRUST

TRANSFER OF SURPLUS: CASH AND / OR ASSETS

£££

£££

C. SURRENDER BENEFITS: TRANSFERRED FUNDS AUTOMATICALLY BECOME THE PROPERTY OF YOUR OWN TAX EXEMPT COMPANY

MEMBER

OFFSHORE FUND MANAGER

REGISTERED UMBRELLA PENSION

SCHEME

FIDUCIARYAGREEMENT

MEMBER’S PERSONAL

MANAGEMENT COMPANY

OFFSHORE

UK

UMBRELLA TRUST

CEASES MEMBERSHIP

MEMBERCONTROL

£££

WEALTH HELD IN ONSHORE PMC:• CLIENT IS SHAREHOLDER• CLIENT IS DIRECTOR• CLIENT’S SIGNATURE ON UK BANK ACCOUNT

PMC:• CAN INVEST AND TRADE IN ANYTHING• EXEMPT FROM TAX ON ANY PROFITS OR GAINS• CAN LEND TO CLIENT• SHARES PASS IHT FREE UNDER CLIENT’S WILL

+

=

MANAGE THE FUNDS IN YOUR OWN UK TAX EXEMPT COMPANY

UK

OFFSHOREUMBRELLA TRUST

OFFSHORE FIDUCIARY MANAGER

TAX FREE WEALTHWITH PERSONAL CONTROL

MEMBER’S PERSONAL

MANAGEMENT COMPANY

MEMBERCONTROL

£££

INVESTING

INVEST IN ANYTHING

THE PMC STRUCTURE: DETAIL 1UK

TAX FREE RETURNS

CORPORATION TAX ACT 20096 Profits accruing in fiduciary or representative capacity(1) A company is not chargeable to corporation tax on profits which accrue to it in a fiduciary or representative capacity except as respects its own beneficial interest (if any) in the profits.

WORLDWIDE

MEMBER’S PERSONAL

MANAGEMENT COMPANY

SPENDING

THE PMC STRUCTURE: DETAIL 2

£££

SPEND ON ANYTHING

PERSONAL MANAGEMENT

COMPANY

MEMBERCONTROL

MEMBEROR FAMILY

LOAN

FINANCE AGREEMEN

T• PMC LENDS £100,000 TO BORROWER FOR 5 YEARS• BORROWER AGREES TO REPAY £150,000 IN 5 YEARS

TIME• LOAN PERIOD MAY BE EXTENDED BY MUTUAL

AGREEMENT

£££

BETWEEN: PMC & BORROWER

TEMPLATE LOAN AGREEMENT PROVIDED BY A PENSION ADMINISTRATION COMPANY

MEMBERCONTROL

ASSETS

WEALTH STILL HELD IN ONSHORE PMC:• WIDOW IS SHAREHOLDER• WIDOW IS DIRECTOR• WIDOW’S SIGNATURE ON UK BANK A/C

PASSING TO THE NEXT GENERATION

WIDOW

MEMBER DIES:

SHARES PASS BY WILLIHT FREE

THE PMC STRUCTURE: DETAIL 3

UK

ASSETS

MEMBER’S PERSONAL

MANAGEMENT COMPANY

WIDOW’S PERSONAL

MANAGEMENT COMPANY

BALANCE SHEET AT DEATHASSETS REDUCED BY ESTATE DEBTS

ASSETS IHT VALUE

LESSDEBTS

TYPE

HOUSE 1M (1M) DEBT TO PMC

CHATTELS 0.1M (0.1M) OTHER DEBTS

PMC SHARES 0 N/A N/A

TOTAL 1.1M (1.1M)

NET IHT VALUE OF ESTATE £0IHT SAVING £0.4M

PASSING TO THE NEXT GENERATIONTHE PMC STRUCTURE: DETAIL 3

WIDOW’S INHERITANCE

HOUSE

OWNS

DEBT

COMMERCIAL VALUE£1M

IHT VALUE

£0

WIDOW

PASSING TO THE NEXT GENERATIONTHE PMC STRUCTURE: DETAIL 3

WIDOW’S PERSONAL

MANAGEMENT COMPANY

WHO CAN BE A SHAREHOLDER OR DIRECTOR OF PMC ANYONE YOU WANT

DOES A PMC HAVE TO FILE ACCOUNTS AT COMPANIES HOUSE YES. YOU CAN DO IT ONLINE, USING SMALL COMPANY EXEMPTION

WHAT DO THE ACCOUNTS SAY CASH AT BANK £2; SHARE CAPITAL £2

DO THE ACCOUNTS HAVE TO INCLUDE THE ASSETS OF A PMC NO. THOSE BELONG TO THE UPT. THE PMC IS A JUST A FIDUCIARY

WHAT CAN A PMC INVEST IN ANYTHING ANY ORDINARY UK COMPANY COULD INVEST IN

CAN A PMC CARRY ON A TRADE YES: JUST LIKE ANY ORDINARY UK COMPANY

WHAT DO I DO WHEN I WANT TO BORROW PMC MONEY COMPLETE THE PMC-BORROWER FINANCE AGREEMENT

WHAT HAPPENS TO THE £100 A MONTH I LEND THE PMC IT IS PART OF THE PMC/URT FUNDS AND CAN BE LENT BACK TO YOU

WHAT IF I DON’T REPAY LOANS MADE TO ME FROM THE PMC THEY ARE REFINANCED OUT OF YOUR ESTATE ON DEATH = 0% IHT

THE PMC: TECHNICAL Q & A’S

What if…

What if…

What if…

What if…

What if…

What if…

RISK ANALYSIS

FROM HERE

ONLY LIABILITY ASSET

FEES INSURED

HMRC INTEREST LESS THAN INTEREST EARNED

HMRC PENALTY NONE: FULL DISCLOSURE

RISK ITEM RESULT

FUTURE LEGISLATION STILL BETTER OFF

RETROSPECTIVELEGISLATION

BACK TO BOTTOMOF LADDER

UP

RISK ANALYSIS

WHAT IS THE RISK OF GETTING FROM MINUS TO ZERO ?

STAY DOWN = CERTAINTY OF 100% + TAX

CLIMB UP = PROSPECT OF 0% TAX

WORST RISK IS:SLIP BACK TO

STARTING POINT

RISK ANALYSIS

PROFESSIONAL INDEMNITY INSURANCE:UNDERWRITTEN AT LLOYDS OF LONDON

INDEMNITY: £2.5M ANNUAL

SECURITY:(1) NOVAE SYNDICATE: RATING A TO A +(2) TORUS EXECUTIVE RISKS LIMITED: RATING A-

COVER:CLAIMS FOR NEGLIGENCE AGAINST THE SOLICITOR LLP IN RESPECT OF FEES PAID FOR USE OF SOLICITORS SERVICES

FEES INSURANCERISK ANALYSIS

USEFUL COMFORT: BUT NEVER HAD TO BE USED IN 21 YEARS

FEES INSURANCE: Q&A’s

USEFUL COMFORT: BUT NEVER HAD TO BE USED IN 21 YEARS

Q: What risks are covered ?A: Negligence: this means that the solicitors were wrong in what we say about tax or trust law (or any other aspect of the law relating to the URT).

Q: Does it cover tax payable ?A: No. Law is what causes tax to be paid, not us.

Q: Does it cover Counsel's costs in the event of litigation with HMRC ?A: Only after the event, were the taxpayer to lose becauseour original advice had been negligently wrong.

Q: What advice does it apply to ?A: Whatever is set out in the Pension Administrations Company’s engagement letter with the client.

Q: Does it cover HMRC interest and penalties ?A: If the negligence in our advice caused interest or penalties to be levied, then Yes

Q: Does it cover Minerva fees?A: Yes, because there is a branding for the solicitors advice.

Q: Can I have a copy of the policy?A: Yes.

RISK ANALYSISQ: Does it cover retrospective legislation risk ?A: No. It is not 'negligent' to be unable to be a fortune-teller

FEES

89% OF CASE VALUE GOES TO CLIENTPROVIDER FOR TERM AMOUNT DUE

PRODUCT PROVIDER

ADMINISTRATION & SETTING UP OF PMC & BANK ACCOUNT

SINGLE PAYMENT

£1,295 IF PAID ON APPLICATION. £1,495 IF

PAID FOLLOWING TRANSFER

ON APPLICATION (FULLY REFUNDED IF INVESTMENT OF £50,000 OR 30% OF TRANSFER,

WHICHEVER GREATER TAKEN OUT THROUGH ABD WORLDGROUP)

PRODUCTORGANISERS USE OF UPT PLAN SINGLE

PAYMENT10% OF EACH PENSION

TRANSFER VALUE ON TRANSFER

SOLICITORS LEGAL ADVICE & HMRC QUERIES 5 YEARS 0.5% OF TRANSFER VALUE

ON TRANSFER & EVERY ANNIVERSARY FOR 4 YEARS

ADMINISTRATION PENSION TRANSFER & ADMIN 5 YEARS 0.5% OF TRANSFER VALUE

ON TRANSFER & EVERY ANNIVERSARY FOR 4 YEARS

TRUSTEE OFFSHORE TRUSTEE SERVICES ANNUAL FOR TRUST LIFE

£200 ON TRANSFER & EVERY ANNIVERSARY

COMPLETION PACK

YOUR MEMBER PACKS: WHAT YOU GET

ESTABLISHMENT PACKSPECIFIES ALL FEES & SERVICES

+ WHERE & HOW TO MAKE

CONTRIBUTIONS TO TRUST

MEMBER’S PERSONAL

MANAGEMENT COMPANY FINANCE

AGREEMENT

TEMPLATES

YOU OPEN THE PMC BANK ACCOUNT

SOLICITOR ASSISTANCE IN THE FOLLOWING YEARS

DEALS WITH ENQUIRIES FROM

YOUR UPT MEMBER MANUAL

CREATE YOUR OWN PMC ONLINE PENSION ADMINISTRATORSPENSION ADMINISTRATORS

QUESTIONS for USQUESTION ANSWER

HOW DO I KNOW IT WORKS ? 21 YEARS PROOF OF SUCCESS. QC OPINION.

WHAT IF IT DOESN’T WORK FEES INSURED

WHAT IF THE LAW CHANGES TRUST DEED AMENDED RESTROSPECTIVELY

ARE THE FEES HIGH ? YOU GET 89% OF THE DEAL VALUE

CAN I UNWIND THE STRUCTURE YES, WITH NO MORE TAX BENEFITS

CAN I HIRE & FIRE THE TRUSTEES YES

YOUR ACCOUNTANT OR OTHER PROFESSIONAL ADVISOR IS NEGATIVE ABOUT OUR PLANS:- WILL HE SIGN A GUARANTEE ON HIS INDEMNITY TO PAY YOUR TAX IF HIS OPINION IS WRONG ?

YET WE DO PROVIDE A GUARANTEE OF OUR PLAN FEES

YOU OR YOUR ACCOUNTANT WONDER WHY YOU HAVEN’T HEARD OF OUR PLANS BEFORE:- THE 1ST BOOK WAS PUBLISHED IN 1997. OUR PLANS HAVE FEATURED IN THE PRESS AND TV

WE ARE NOT RESPONSIBLE FOR OTHER’S LACK OF RESEARCH OR PROFESSIONAL KNOWLEDGE

WHY DOESN’T EVERYBODY DO IT:- THESE ARE NOT MASS MARKET PLANS. THEY ARE ONLY FOR THE WEALTHY

EVERYONE WHO IS PROPERLY ADVISED & INFORMED DOES USE OUR PLANS

WHAT DO I DO WHEN HMRC ASKS QUESTIONS:- THAT’S THE DIFFERENCE BETWEEN USING OUR IN-HOUSE EXPERTISE, AND OTHER PROVIDERS

YOUR FIXED FEES HAVE PAID FOR US TO DEAL WITH HMRC. WE’VE BEEN DOING IT FOR 21 YEARS

HOW DO I DO GET A FEE REDUCTION:- 89% OF DEAL VALUE NOT ENOUGH FOR YOU ?

RECOMMEND A FRIEND, RELATIVE OR COLLEAGUE AND RECIEVE £100.00

QUESTIONS for YOU

Email: hello@releasemypensions.comTel: +442032391849

www.releasemypensions.comwww.abdworldgroup.com