Smith & Williamson moves cash trust to Dublin

From 6 April 2008, income from an offshore cash fund is taxed in a more preferential way compared to equivalent UK cash funds. This means UK residents with investments in the Smith & Williamson Cash Fund will pay less tax on income than from similar UK-based funds. For example, a higher rate taxpayer would pay an effective tax rate of 25% rather than 40%. Angus Duncan, a director at Smith & Williamson, comments: ‘‘The change in domicile of this fund and improved returns come at a time when investor nervousness is heightened not least because of uncertainties in the banking sector. Many ...