The insurer said the service will offer expert tax advice to those looking to relocate overseas or to the UK. It will complement the services the client currently receives from their financial adviser.
The company believes the offering will be particularly useful following last month’s Brexit vote, noting that tax planning for expats and non-UK domiciles has become “increasingly complicated”.
Rachael Griffin, financial planning expert at Old Mutual Wealth, said: “We just don’t know what effect Brexit will have on expats and non-UK domiciles living in the UK or the impact it will have in terms of emigration/immigration.
“Advisers and their clients will want peace of mind that they are meeting their tax obligations in the country they live as well as the country in which they are domiciled, and the services of a professional tax expert can be invaluable.”
Old Mutual said it will be promoting the service to its clients and has agreed a special fee structure with EY for clients wishing to access the service.