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Lincoln in dual link for Luxemburg bond

Lincoln Financial Group has joined up with Luxemburg life office Sogelife and SG Hambro to offer tax benefits and investment management through its new Luxemburg-based bond.

The Lincoln Privilege bond is a single-premium non-qualifying whole-of-life policy iss-ued by Sogelife. Fund management is provided by SG Hambro Bank & Trust.

The bond offers the choice of three managed portfolios for cautious, balanced and aggressive investors. The offshore bond structure means UK taxpayers can withdraw up to 5 per cent a year of the amount invested, which the Inland Revenue will regard as return of capital rather than income.

No tax return is necessary until the investor repatriates more than the cumulative 5 per cent annual allowance.

At this point, UK-resident investors should make a declaration on their annual tax return.

The Privilege bond is open to UK and non-UK residents. Lincoln is also aiming the bond at expatriates, foreign nat-ionals living in the UK andnon- or lower-rate taxpayers.

Marketing director Steve Parkinson says: “Offshoresingle-premium business accounts for around 20 per cent of the UK single-premium life and pension market, so it is important for us to be able to offer this kind of investment.

“By linking up with Sogelife to offer the bond exclusively within the UK, we are boosting our fund performance through the development of strategic partnerships with well respected fund management companies.”


RBS sells NatWest assets

The Royal Bank of Scotland has sold the interests in a number of unlisted companies it acquired when it purchased National Westminster Bank. They were sold to a consortium of private investors led by the private equity firm Coller Capital for £670m. Included in the deal, Coller will also take on a further £148m of […]

Digital signature set to make the running

Electronic signatures are set to be given the green light this week.The Electronic Communications Bill, which contains legislation for electronic signatures, passed its third reading in the House of Lords on Monday.The move will revolutionise financial services business by allowing full online transactions.There is now only one hurdle – a return for consideration at the […]

Woollard responds to Standard Life

Carpetbagger Fred Woollard has responded to the latest efforts by Standard Life to convince members not to vote for demutualisation.Woollard, on behalf of the Standard Life Members&#39 Action Group, issued a document to members outlining the group&#39s case for conversion. It criticises Standard Life for not setting out the facts clearly, but instead only putting […]

Equity trusts outperform other savings by four times

The Association of Unit Trusts and Investment Funds claims UK equity funds have performed nearly four times better than deposit accounts.AUTIF figures reveal the long term growth prospects of equity funds are 180 per cent better than savings in a building society account.Looking at growth over the past 10 years, the trade body says the […]

Industry under fire over pension freedoms

By Jamie Clark, Business Development Manager, Royal London Recent articles in the media have raised concerns about the new pension freedoms. One perceived problem is that across the industry, trustees and providers are not necessarily allowing people to take full advantage of the pension freedoms in situ. This is backed up by a recent survey by […]


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