The changing role of wealth insurance bonds

Added 7th October 2016

Clients moving around Europe can take advantage of wealth insurance bonds but will need help dealing with the tax authorities, says Mike Foxall, marketing consultant for IWI.

Changes to taxation rules for UK residents, especially as Brexit proceeds, means this is especially true for financial advisers with clients aiming to retire in Europe.

The planned changes for resident non-doms in the UK  which come into effect in April, also offer many opportunities especially in terms of rebasing their assets which may be able to put these into the wealth insurance structure which helps defer and control the tax due.

Foxall says for non-doms, the planning needs to be done now as assets held offshore can be segregated into clean capital and gains and then put into wealth bonds and protected.

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