offshore bonds

Offshore advisers predict rising sales of Qualifying Registered Overseas Pension Scheme (QROPS) products this year, mainly because income drawn avoids UK tax.

Clive Moore, managing director of IDAD, says advisers are set to benefit from a revolution in the structured product market.

Higher-rate tax payers should pile cash into their pensions this year, as it may not be possible to get 40% tax relief in the future, says the managing director of Alan Steel Asset Management (ASAM).

Aviva Life International is exiting the offshore bond space on 26 February amid deteriorating market conditions and a lack of consumer demand.

Merchant Investors (MI) has partnered with Royal London 360° to offer its first offshore bond.

This week Les Scadding and his wife Samantha Peachey-Scadding from Caerleon, South Wales, won £45.5m on the EuroMillions.