Opportunities in the market
Moving abroad?
Are any of your clients considering moving abroad and do they currently hold an investment bond? If so, they will become taxable in their new country of residence. Clients should always seek local investment advice however the Association of International Life Offices provides a broad overview of how a bond will be taxed in a number of other jurisdictions and can be used as a good starting point.
Factsheets
We provide specific guidance on the remittance based charge, residence and domicile, and other offshore planning.
Other supporting material
We also have a range of other supporting material available, which provides insight in this area. Case law has shown that becoming non resident or acquiring a new domicile of choice can be difficult in practice and more often than not, HMRC will look at the individual facts of the case.
Please see HMRC6 for detailed guidance on residence and domicile.
