Tax Benefits For UK Residents
Key Benefits of the LMEP TOBCO Bond Wrapper
THE LMEP TOBCO INVESTMENT BOND is a whole-of-life unit linked single premium life assurance policy where premiums are invested in units/shares of your selected portfolio-style funds.
The Bond can be based on single or multiple lives assured and, except in the event of the Bond being surrendered, the benefits will become payable on the death of the Life Assured or, in the case of a multiple life Bond, on the death of the last surviving Life Assured.
Potential Tax Benefits
For UK Residents, your investment in the Bond will grow virtually tax-free (except for the deduction of irrecoverable withholding tax on dividend income) in the underlying funds as income and capital gains will accumulate without deduction of any taxes.
Potential Tax Liability
L a M o n d i a l e Europartner (LMEP)
As a UK resident, you will not be liable to pay Income Tax at the time that any partial withdrawals from the Bond are taken as long as each year these do not exceed five per cent (5%) of the original investment(s) and the total withdrawals do not exceed the amount of the original investment. If you do not take full advantage of the five per cent withdrawal opportunity in any one year, this can be carried forward and drawn at a later date without attracting Income Tax.
There is, however, a potential tax liability in any of the following chargeable events:
1. The Bond is fully surrendered;
2. There is a partial surrender of the Bond which exceeds the cumulative five per cent tax deferred withdrawal allowance;
3. The Bond is assigned for value;
4. The Bond benefits become payable as a result of the death of the Life Assured or where multiple lives are in insured on the death of the last surviving life insured.
The LMEP TOBCO Offshore Investment Bond ... an alternative investment, simple and effective, for growth and income.
Nil CGT Liability
You can switch between funds without any tax liability and when the proceeds of the Bond are taken, for whatever reason, there will be no Capital Gains Tax liability.
Help Desk
The LMEP TOBCO Offshore Investment Bond is an insured investment policy offered by:
La Mondiale Europartner
23 ZA Bourmicht
L-8070 Bertrange.
Luxembourg.
English Speaking Help Desk (UK Freephone):
Tel: 0808 234 6607
Contact TOBCO
The approved UK marketing agent for the LMEP TOBCO Offshore Investment Bond described in this document is:-
Registered Office:
TOBCO
The Belvedere
Hesslewood Hall
Ferriby Road
Hessle, HU13 0LH
England.
Tel: 01482 319240
Fax: 01482 648058
◊ Email TOBCO
Registered in England:
No. 05373862.
Disclaimer
The price of units/shares and the income from them may fall as well as rise. Past performance is not necessarily a guide to future returns.