In the last submission we touched on how there are many advisers who have recommended onshore bonds when the offshore alternative may have proved more effective.
More specifically, the situations of a husband and wife using assignments and those retiring abroad were mentioned. Since writing the last piece I have presented at a number of seminars and covered these specific situations in more depth. It surprising that some advisers believe the tax treatment of an offshore bond is irrespective of residence. At one seminar an adviser suggested that a client of his who was retiring abroad would be entitled to receive the 5% withdrawal allowance on his onshore bond without being subject to local taxation. But it is the authorities in the country in whi...
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