government still remains undecided over 5% withdrawal limit on offshore bonds
The 2003 UK Budget was a kind one for British offshore investors ' almost nothing happened. The Government is still undecided on whether to change the 5% withdrawal limit on offshore bonds or to change the taxation rules for domicile. The inheritance tax (IHT) threshold has been only raised from £250,000 to £255,000. According to Aegon's Lesley McPherson, property prices has risen by about 26% in the past two years, so a far greater number of people are falling into this bracket. By only increasing the amount slightly it means a greater number of people may be encouraged to reduce ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes