Offshore investment vehicles include unit trusts, mutual funds or investment companies. The offshore company will normally be situated in a country where the investment fund pays little or no tax on its income or gains. While this does allow the investor some benefit while invested, if the proceeds are brought back to the UK they will be taxed at that point.
As with any other investment the risks and rewards will be dictated by the investment strategy and decisions of the investment managers. However, it should be borne in mind that many offshore investments do not benefit from the legislative and regulatory protections that UK authorised investments have.
These are funds which, although managed overseas, are permitted to market themselves directly to UK private investors. For an investment to be ‘recognised’ it will either be an investment authorised by another regulator within the EEA, or it will have provided information to satisfy the FCA that it provides ‘adequate protection’ to investors and is appropriately managed. However investors in such schemes will not benefit from access to UK customer protection schemes such as the Financial Services Compensation Scheme.
THE VALUE OF INVESTMENTS AND THE INCOME THEY PRODUCE CAN FALL AS WELL AS RISE. YOU MAY GET BACK LESS THAN YOU INVESTED.
OFFSHORE COLLECTIVES ARE COMPLEX INVESTMENTS AND ARE NOT SUITABLE FOR EVERYONE, YOU SHOULD SEEK FINANCIAL ADVICE BEFORE ENTERING INTO THIS TYPE OF INVESTMENT.
INFORMATION IS BASED ON OUR CURRENT UNDERSTANDING OF TAXATION LEGISLATION AND REGULATIONS. ANY LEVELS AND BASES OF, AND RELIEFS FROM TAXATION, ARE SUBJECT TO CHANGE.
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Haworths Financial Services is an Appointed Representative of Quilter Financial Services Limited and Quilter Mortgage Planning Limited, which is authorised and regulated by the Financial Conduct Authority. FCA No: 494163.
Haworths Financial Services Ltd. Registered office: Suite 7, The Globe Centre, St James Square, Accrington, Lancashire, BB5 0RE. Registered in England and Wales, company number 5062508.
Tel: 01254 945945 Email: enquiries@haworthsfs.co.uk
The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.
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