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Aegon wealth portfolio offers guide to bond tax

Aegon has launched a new opt-ion on its offshore investment bond, the wealth management portfolio, which allows UK customers moving to Spain, France or Italy to benefit from tax deferral and ensure that their bond is tax-compliant.

Aegon says the European portability option enables customers to ensure their bond is tax-efficient without having to move their savings to a different product when moving between the UK and Spain, France or Italy.

It is free of charge, with no ongoing additional charges for the support services.

The European portability option provides customers with a welcome pack that includes a moving abroad investment checklist with information on what to do in connection with their bond before moving abroad as well as tax deadlines.

It also includes a tax factsheet with details of tax rates and illustrates how tax in relation to their bond is calculated differently between the UK and their new country of residence.

Aegon Ireland managing director David Healy says: “The implications of giving the wrong advice in this complex area are significant for the customer and the adviser. The European portability option will give advisers reassurance and support that until now was reserved for those willing to pay for specialist services.”


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