Then you may gain considerably by transferring your funds to an Offshore FURBS
An Offshore FURBS is like a UK FURBS, but has very special tax treatments.
This means a number of very great tax savings to you:
Your fund will grow tax free instead of being taxed at up to 50%
You have much more flexible retirement options
Your fund is normally free of any IHT
Charges are often considerably lower than you are currently paying
Plans are established in the highly regulated jurisdiction of Guernsey, and the Trustees are fully regulated by their Financial Services Commission.
The table below summarises the advantages of moving to an Offshore FURBS
UK FURBS
Offshore FURBS
Tax on the growth of the Fund
Tax on Savings Income
50% (typically)
0
Tax on UK Dividend Income
42.5% (typically)
0
Tax on Capital Gains
18%
0
Investment Options
Equities, Bonds etc
Normally yes
Yes
Residential Property
Sometimes
Yes*
Esoteric Investments
Sometimes
Yes*
Retirement Options
Earliest Retirement
50
50, may be earlier**
Cash on Retirement
100% Tax Free
100% Tax Free
Retirement Income allowed
No, it would be taxed
Yes, no tax
Loan from FURBS allowed
Maybe
Yes***
Inheritance Tax – IHT
IHT on Death
Normally none
Normally none***
* Property and esoteric investments may be allowed
** Subject to agreement by the Trustees
*** In addition, it is frequently possible to reduce the IHT on the rest of your estate
Notes for IFAs
This is an International variant of a UK FURBS.
Funding will always be from the transfer over of FURBS benefits.
Billions of pounds of FURBS monies lies neglected in old and paid-up schemes so that clients unnecessarily suffer from high tax charges.
Senior staff often have paid-up FURBS that they are not aware of
Brooklands Pensions work together with both the adviser and the member to ensure that the scheme is administered correctly and complies with current legislation as well as providing consultancy on operating the scheme in an efficient manner.
Full marketing and technical data will be sent to you when you enquire.
Do you have a FURBS?
Funded Unapproved Retirement Benefits Scheme
This means a number of very great tax savings to you:
Plans are established in the highly regulated jurisdiction of Guernsey, and the Trustees are fully regulated by their Financial Services Commission.
The table below summarises the advantages of moving to an Offshore FURBS
* Property and esoteric investments may be allowed
** Subject to agreement by the Trustees
*** In addition, it is frequently possible to reduce the IHT on the rest of your estate
Notes for IFAs