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New On The Network Today
This feed is published daily with selected new or updated
content from across our network. For a list of network sites, many of
which feature daily news, see below. |
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| 02/09 New
Lowtax Editor Column, by Kitty Miv |
| 01/09 International
Privacy and Security, Investors Offshore special feature |
| 31/08
Lowtax Belize, annual update |
| 27/08
IRS To Drop UBS Lawsuit, Tax-News.com |
| 26/08 New
Lowtax Editor Column, by Kitty Miv |
| 25/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 24/08
Uruguay Stays On OECD Grey List, Tax-News.com |
| 23/08 Don't
Forget Doha, And I Don't Mean The Tennis, Jeremy Hetherington-Gore
blog entry |
| 20/08
Ireland Plans Social Security Overhaul, Tax-News.com |
| 19/08 New
Lowtax Editor Column, by Kitty Miv |
| 18/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 17/06
Lowtax Cayman Islands, annual update |
| 16/08
Germany's Fiscal Court Seeks Property Tax Reform, Tax-News.com |
| 13/08 Jurisdiction
Special Focus: Antigua and Barbuda, Investors Offshore special feature |
| 12/08 New
Lowtax Editor Column, by Kitty Miv |
| 11/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 10/08 Brazil
Cuts Import Tariffs, Tax-News.com |
| 09/08 Ukraine
Tax Code Published, Tax-News.com |
| 06/08
France Plans Reform Of Property Tax Credit, Tax-News.com |
| 04/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 02/08 Islamic
Finance - The New Mainstream Alternative, Investors Offshore special
feature |
| 28/07 New
PBTG Editor Column, Caroline, PBTG editor |
| 27/07 UK
Launches Raft Of Tax Consultations, Tax-News.com |
| 26/07 Fat
Tax On The Menu , Jeremy Hetherington-Gore blog entry |
| 23/07 Sarkozy
Seeks 'Fiscal Convergence' With Germany, Tax-News.com |
| 20/07 Singapore
Base For Tuvalu OIFC, Tax-News.com |
| 15/07 St
Vincent & The Grenadines, Investors Offshore special feature |
13/07 Tax-
News.com Jersey Review 2010-2011 |
| 12/07 Goodbye
To All That, Jeremy Hetherington-Gore blog entry |
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06/07 Hong
Kong Full PBTG Guide, added to Personal Business Tax Guide |
| 28/06
Lowtax Dubai, annual update |
| 18/06 Singapore
- Another Hong Kong?, Investors Offshore special feature |
| 15/06 Swiss
Parliament Approves UBS Agreement, Tax-News.com |
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08/06 Dubai
Full PBTG Guide, added to Personal Business Tax Guide |
| 04/06
Lowtax Panama, annual update |
| 01/06
Lowtax Luxembourg, annual update |
| 03/03
Personal Business
Tax Guide, PBTG, has launched! |
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| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
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| Lowtax Network Sites |
| Lowtax Network Portal:
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exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
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Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
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Tax Issues Fuelling UK Investor Interest In Offshore Bonds,
by Robert Lee, Tax-News.com, London 07 June 2006
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Strong interest in both offshore and onshore bonds from UK investors is likely
to continue in the foreseeable future as rising house prices, the EU Savings
Tax Directive and emigration fuel a greater need for tax planning.
According to a review of this market by Defaqto, a leading financial research
company, in 2005 alone there was an 18.5% increase in sales of onshore bonds
compared to the previous year.
The bond industry is at the forefront of providing trust solutions for estate
planning and is now more important than ever following the Treasury’s
proposal to extend the Inheritance Tax net to cover certain types of trusts,
the company says. This potentially retrospective change combined with the rapid
acceleration of house prices over the last ten years means more people are in
need of financial advice in the area of estate and inheritance planning.
Defaqto believes that a main driver of the offshore bond market is
the increase in overseas migration of UK citizens over the past ten years and
the expectation of continued growth in the future. The international portability
of Offshore Bonds makes them an investment vehicle of choice for a rapidly growing
band of soon-to-be expats, says Defaqto.
“Bonds offer so many advantages in financial planning that I am not surprised
that the market is powering ahead. The ability to switch investments within
a Bond with no Capital Gains Tax issues is one of the key reasons why Bonds
are a useful investment vehicle for tax planning," noted Fraser Donaldson,
Head of Investment at Defaqto.
Mr Donaldson observed that rising property values mean that estate planning
is no longer a problem just for the very wealthy.
"While onshore bonds are the bulk of the market, offshore bonds sales
are growing faster as they overcome customer and adviser perceptions of high
price. Rather ironically, given that they are aimed mainly at wealthier individuals,
Offshore Bonds are at their most tax efficient for nil and lower rate tax payers,"
he noted.
"They are a particularly useful vehicle to help mitigate tax for those
planning to spend some or all of their time living outside the UK," Mr
Donaldson explained.
Another important factor driving interest in offshore bonds is the European
Savings Tax Directive, under which signatory countries (EU member states and
a number of offshore dependant territories) share information on the savings
income in their country earned by investors living elsewhere.
Instead of sharing this information, some territories have opted to apply a
withholding tax in this income, including Jersey, Guernsey, the Isle of Man,
and three EU member states, Austria, Belgium and Luxembourg. However, there
are many types of investment vehicle that are not included in the legislation,
one of them being bonds.
While investors in bonds must still pay tax on the proceeds when a bond is
cashed in, income does not usually have to be declared to the tax man on an
annual basis, meaning that offshore bondholders are earning money that would
otherwise have gone to the Revenue.
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