Surrenda-link is offering a sterling-based, tax-efficient, income-generating product for high net worth individuals.
The Tailored Income Plan invests in Traded Endowment Policies (Teps) with a minimum investment of £50,000.
In addition to the capital invested investors can buy more Teps through a loan. The original portfolio of policies is used as collateral, based upon the surrender values of the Teps within the portfolio.
The scheme distributes income annually, drawing initially on the loan agreement and in the later years, proceeds from maturing policies. Any realised capital gains occurring each year are designed to fall within the expected capital gains tax (CGT) allowance and returns are directed towards the loan repayment or income to the client.
A variant of the Tailored Income Plan allows investors to save on inheritance tax (IHT) if they have not planned for IHT in advance. The IHT bill on an estate of £500,000 is £98,000, but by investing in Teps through the Tailored Income Plan, this bill can be almost halved.
Lasting power of attorney
Three risk profiles
Caused by falling oil price
Roger Marsden takes over on interim basis
Will face 'appropriate action'