Customise Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorised as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyse the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customised advertisements based on the pages you visited previously and to analyse the effectiveness of the ad campaigns.

No cookies to display.

Business

Planning Tax Free Offshore Pensions

Pensions for expats can be a maze of literature and advice that may leave many feeling like they are not in control of the trajectory of their lives. With pensions there are some vital points which must be observed in order to maximise the potential benefits that can be seen from various types of investments which can benefit expats in particular. The most immediate of these is tax which is especially problematic because everybody wants to see their investment grow to an extent that they can retire into a lifestyle to which they have become accustomed. Tax can reduce the amount of growth a pension may see and may hamper its future to such an extent the investment could become a pointless exercise. This naturally puts the potential investor in the position of wanting to find a quality wrapper which will yield zero tax during the policy’s life span.

It is worthwhile remembering that UK pensions for expats will more than likely still be paid to the UK even if the policyholder doesn’t live in the UK. Another damaging issue is the fact that the entire area of tax breaks are being policed a lot more. Restrictions are coming into force which could result in difficult future manoeuvres.

There are however significant advantages to having offshore pensions when it comes to tax, namely that the policyholder will be able to withdraw 100% of the amount tax free. It also allows the policyholder to withdraw it when they want, which can create a massive amount of freedom without incurring any penalties. With the tax system in the UK coming under increasing amounts of scrutiny and regulation, offshore pensions could prove to be the perfect investment vehicle for any expats who are wanting to make the most of their money.

For more information visit whichoffshore.com/offshore-financial-advice