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Bonds

Calculator piggy bank

Introducing the chargeable event gain income tax calculator

Introduction to a new tool which calculates the income tax payable by individuals who realise a chargeable gain on their onshore or offshore bond. Topic:Chargeable Events
Boy with car

Offshore segments or ISA max out will stop son’s cash splash

This article looks at ways parents can avoid their offspring splashing out when they turn 18 whilst still maximising investment growth and being tax efficient. Topic:Offshore
Sterling notes

The 0% rate of tax on Savings Income

The £5,000 nil-rate starting band for savings is available where earned income is less than £16,000 and yet individuals with taxable income greater than this can make use of it. Topic:Offshore
Brainstorming

UK Taxation of Investment Bonds - Quick reference guides

We’ve broken down the complex subject of chargeable events into, easy to digest, quick reference guides. These guides cover the need-to-know facts and provide examples of the method. Topic:Chargeable Events
Coins

HMRC guidance on applying for a recalculation of a wholly disproportionate gain

HMRC has published guidance on how to apply for a recalculation of a wholly disproportionate gain following a part surrender or a part assignment for money's worth. Topic:Chargeable Events
Currency

When an in-specie transfer can result in a 15% deemed tax charge

Highly personalised portfolio bonds (PPB) incur an annual tax charge of 15% on deemed gains. This article explain how in-specie transfer to a bond may cause it to fall under the PPB rules. Topic:Offshore
Handing over papers

The devil is in the detail

Time apportionment relief changes from 6/4/13 had consequential impacts on top slicing relief for offshore bonds with excess events (withdrawals above the 5% allowance) but these seem to have gone ‘under the radar'. Topic:Chargeable Events
couple on beach

Offshore bonds for the UK expat

Offshore bonds have been successful because of their flexible UK tax planning benefits. But for investors outside of the UK, including UK expats, they're still important when investing lump sums. Topic:Offshore
flags

Taxing collectives in an offshore bond

This article looks at the taxation of a collective investment when held by a UK-resident bondholder (excluding companies) inside an offshore bond and considers any additional liability which may fall on the bondholder. Topic:Offshore
Group of people

HMRC to recalculate wholly disproportionate gains on part surrenders and part assignments

This article provides an overview of the new application process introduced in the Finance Bill 2017 which a policyholder must follow to have their gains on a part surrender or a part assignment recalculated by HMRC. Topic:Onshore
Completing forms

Local authority assessment of bonds

This article is designed to outline how life assurance and investment bonds could be assessed by UK local authorities and the impact this may have on means testing for residential care. Topic:Offshore
Completing forms

Local authority assessment of bonds

This article is designed to outline how life assurance and investment bonds could be assessed by UK local authorities and the impact this may have on means testing for residential care. Topic:Onshore
China musings

UK taxation of offshore bonds, part 3

This article explains how personal portfolio bond taxation interacts with other UK chargeable events. Topic:Offshore
China cityscape

UK taxation of offshore bonds, part 1

Income tax assessment where UK resident individuals hold an offshore regular or single premium life assurance bond, or a capital redemption bond offered by Old Mutual International, OMII or OMIG. Topic:Offshore
Beach

Offshore bonds as UK trustee investment

This article explains how offshore bonds can be a suitable trust asset for a number of reasons. Topic:Offshore
ladies in sarees

UK taxation of offshore bonds, part 2

Reliefs available where a chargeable event gain has been made. It is recommended that this article is read in conjunction with UK taxation of offshore bonds - Part I Chargeable Events which details how the chargeable event regime works. Topic:Offshore
Junk boat

Advantages of using an offshore bond

This article aims to provide an overview of the advantages and disadvantages of purchasing an offshore bond for UK resident clients. Topic:Offshore
London town

Advantages of using a UK bond

This article provides a high level summary of the potential advantages and disadvantages of UK bonds. Topic:Onshore
pen and cards

Taxing investment bonds held in trust

This article looks at how UK investment bonds are taxed when they are held inside a trust. It assumes that you have a good understanding of the common types of trusts that hold UK investment bonds. Topic:Onshore
Couple meeting adviser

Don’t be rash; get tax advice before you encash!

The Upper Tribunal ruling in Joost Lobler v HMRC (2015) UKUT 152 (26 March 2015) has overturned the First Tier Tribunal decision and now enables the court to provide a remedy of rectification in the limited circumstances where the court deems the error of selecting a part surrender instead of a full surrender on a withdrawal form to be ‘of a sufficiently serious nature’. Topic:Chargeable Events
messy desk

UK tax – Chargeable Events and LPRs

UK tax assessment process where chargeable events occur following the death of the policyholder (or last policyholder for jointly held bonds). This applies only where the policyholder was not a trustee. Topic:Onshore
messy desk

UK tax – Chargeable Events and LPRs

UK tax assessment process where chargeable events occur following the death of the policyholder (or last policyholder for jointly held bonds). This applies only where the policyholder was not a trustee. Topic:Chargeable Events
Flip flops

Offshore bond for UK expats – 6 benefits

Some of the key UK taxation benefits which an offshore bond can provide to a UK expatriate investor. These benefits are presented for consideration alongside the other aspects of investment advice. Topic:Offshore

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