Blacktower financial adviser Rosemary Sheppard offers advice for British expats in France and explains why an International Assurance Vie might be your best option for a tax-efficient investment.
Would you like an investment that offers you tax efficiency whilst you live in France and if you ever return the UK?
Most of the latter half of 2020, expats had been concerned with Brexit and the ‘deal or no deal’ situation. As we all now know, a deal was done, maybe not the deal we all wanted, but a deal, nevertheless. Those of us already here in France are hopefully looking forward to enjoying a new or continued life in France after Brexit, but what happens if the situation ever arises that you need or want to return to living in the UK?
This is a question that has arisen more than once in my recent conversations with clients. As International Financial Advisers, we look to help you with your tax efficiency before your move, whilst you enjoy your life here in France, and also if the need arises to return to the UK or move on elsewhere.
The Benefits of International Assurance Vie (Life Insurance)
How can we do this, you may ask? Well, quite simply by offering you an International Assurance Vie (Life Insurance), written through Luxembourg or Ireland.
Whilst resident in France this is fully French compliant and offers multiple tax advantages, including tax-free growth, tax-efficient drawdown, exemption from Wealth Tax and the ability to pass some additional inheritance to family and others, not necessarily related, so including step-children, at nil-rate.
What Happens To My International Assurance Vie If I Move Back to the UK?
If and when you move back to the UK, unlike an Assurance Vie that you may hold with your French bank or Insurance company, you will not have to cash this in, therefore not realising any gain and facing a potential tax bill. You can simply port the Assurance Vie with you back to the UK. This will then fall under the treatment of an Offshore Bond, ensuring that the investment can continue to grow tax-free and provide tax efficiency on drawdown, under current UK tax rules.
How Blacktower Can Help Find the Best Investment for You
If this is something that has stopped you making the most of your investments and savings until now then please get in touch, so we can consider your personal circumstances and help you get to the right solution where you benefit both from tax efficiency and growth of your hard-earned cash, whilst still being able to enjoy the benefits whenever you want. You never know – that big holiday that you always wanted to take may not be too far in the distant future, so make sure your money is working as hard as it can for you in the here and now.
Blacktower will be by your side both now and in the future, we are here to help you. To arrange a professional and impartial consultation please contact me by email [email protected] or call me on 06 38 86 99 70 or find out more about how Blacktower can help you with your investments.
This article is based on the opinion of the financial adviser and author, and does not reflect the views of Blacktower. The above information was correct at the time of preparation and does not constitute investment advice and you should seek advice from a professional adviser before embarking on any financial planning activity.
Blacktower Insurance Agents & Advisors Ltd is authorised and regulated in Cyprus by the Insurance Companies Control Service and registered with ORIAS in France. Blacktower Financial Management (Cyprus) Ltd is authorised and regulated in Cyprus by the Cyprus Securities & Exchange Commission and is registered with the AMF in France.