Tax warning for expats using QNUPS Qualifying Non-UK Pension Schemes (QNUPS), by contrast, don't have such reporting requirements to HMRC, although they don't enjoy the same benefits. For example, a UK pension cannot be transferred into a QNUPS, nor does it attract tax relief. But a sudden influx of people taking out QNUPS could raise alarm bells with the tax authorities, worried that scheme members are trying to abuse IHT rules. Rob Shipman, the director at Guernsey-based Concept Group, said: "There are dangers for any advisor who suggests to their clients that the sole purpose of the pension is simply to avoid UK inheritance tax. HMRC will take a dim view of this. Bethell Codrington, managing director of QROPS provider Panthera, added: "We are now seeing providers promoting QNUPS on the basis you can put your holiday home in it or borrow from it. A pension fund is there to provide retirement income and you don't get income from those things. Some offshore sites are heavily marketing QNUPS, launched in 2010, as a way to make up for the loss of their QROPS business. Mr Codrington added: "Guernsey naturally will be pushing QNUPS as they cannot do anything about QROPS. Malta is writing QNUPS business but on a more bespoke basis along with the Isle of Man and Jersey. But there is a nervousness that HMRC will amend the QNUPS legislation if they see it being missold and bring it into line with QROPS. Guernsey has had 300 QROPS removed from the HMRC list of registered schemes this year while Cyprus saw its overseas pension schemes delisted last month.