AXA Wealth said the new range of tax intelligence documents have been created in response to demand from IFAs.
AXA Wealth has been working in conjunction with Deloitte Private Client Services to provide information on the current law and practice for the taxation of individuals who invest in Life Assurance Bonds and who intend to reside in France, Spain, Italy, Germany, Portugal, Cyprus and Malta.
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The changes to the taxation of UK resident non-domicile clients, introduced by the 2008 Finance Act, means that individuals looking to retire abroad may benefit from an offshore investment which offers tax deferral.
AXA Wealth said as a large number of Britons are now looking to retire abroad many IFAs have been recommending offshore bonds as a tax efficient savings option for their clients.
Tax on offshore bonds can vary from country to country, yet up until now, information surrounding tax liability has been prohibitively expensive, and as such many advisers have placed the onus on the client to research the information.
AXA Wealth International sales and marketing director Richard Leeson said in the past there has been a lack of readily available information for IFAs looking to advise clients who want to retire abroad. This sort of document has never been available before, and they are pleased to be able to offer their advisers a unique service – providing regularly updated tax information on the most popular overseas retirement locations for Brits.
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