You need to be careful with some circumstances. I recently had to fix up a case where someone had tried this with a recurring local date. Something needed to happen at 4am local time every day. They had converted 4am local time to UTC based on the timezone offset on the day the config was saved. This then restored incorrectly when the timezone offset changed because e.g. a DST transition.
Well, I guess I should have written in the OP, that I do both conversions at the time of the query. It's useless to try storing the UTC. It needs to be JIT.