UK contemplating tax charge on offshore bond investments

UK investors in offshore bonds are facing the possibility of an 15% annual tax charge in the wake of Government talks about the suitability of certain asset types for such vehicles. The lack of clarity in the legislation means it is possible the Inland Revenue could choose to treat offshore bonds containing certain types of non-UK funds as personalised assets, turning a tax-efficient offshore bond into a tax-penalised personalised portfolio bond. However, there is no immediate risk to investors, according to the Association of Life Offices (Ailo). The trade body claimed that, unlike previ...