UK offshore investors breathe a sigh of relief at 2003 Budget

Professional Adviser
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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 ...

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