Offshore Investment

Apparently "many IFAs are introducing clients to properties abroad and receiving generous commissions!" Every day we have an approach to sell, introduce or become an agent of some foreign property company who will pay us "enhanced" this or "uplifted"...

The Treasury Department of the Isle of Man is preparing for a full roll-out of online services which will help advisers and companies "interact with the income tax system".

A couple of weeks ago it was the turn of Miss Liz Hurley to get a decent slice of the limelight with the occasion of a sumptuous and lavish wedding. But we can't all be in the papers all the time.

The Isle of Man Treasury is planning to remove the compulsory annuitisation of pension schemes, under its proposals for 'pensions simplification', because there are now fewer annuity providers on the island.

The Treasury is cracking down on the use of short-term offshore bond investments which allow investors to avoid tax through commission rebate.

Allan Bell, the Isle of Man Treasury Minister, has announced in the Budget the completion of a review into the Island's funds sector, and the establishment of a £20m economic development fund.

A draft trust designed to avoid Isle of Man probate and Inheritance Tax issues associated with life assurance policies has been launched by Scottish Life International.

Legal & General has confirmed it is to enter the offshore market with the establishment of a new international company in Ireland which will deliver offshore bonds into the UK market by the second half of the year.

In the previous blog I wrote that I would look at some of the possible replacements to IHT (inheritance tax). This was in response to the Daily Express campaign against what it refers to as the "Death Tax".

The latest figures from the ABI indicate that the market for offshore single premium bonds sold in the UK has increased from £4.8bn in 2005 to £7.1bn in 2007 - an increase of almost 50%. This is after a 63% increase in 2006 over 2005. This is a big and...