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Insurance Bonds for Individuals

6 min watch 18 Aug 22

On this webinar Les Cameron, Head of Technical and Graeme Robb, Senior Technical Manager at M&G Wealth looked at the key tax benefits delivered by the insurance bond tax wrapper using a case study approach to draw out the outcomes that can be delivered.

Following the session you should now be able to:

  • Describe the key benefits of using an insurance bond wrapper
  • Identify clients who could benefit from the use of insurance bond wrapper

Presenters – Les Cameron, Head of Technical, M&G Wealth
                        Graeme Robb, Senior Technical Manager, M&G Wealth

To claim your CPD certificate, test your knowledge with the questions below.

Write down your answers to each of the following questions and check your answers when you click through to claim your CPD certificate on the link below.

Test your knowledge

1. The requirement for an insurable interest on a life policy dates back to…

a) The Life Assurance Act of 1774

b) The Life Assurance Act of 1974

c) The Life Assurance Act of 1984

d) The Life Assurance Act of 1994

 

2. In an onshore life fund, dividends received are taxed at…

a) 0%

b) 10%

c) 19%

d) 20%

 

3. Under ‘order of tax’ rules, which of these statements are correct…

a) Dividends are taxed before offshore bond gains

b) Rental income is taxed after onshore bond gains

c) Offshore bond gains are taxed before dividends

d) Onshore bond gains are taxed before pension income

 

4. In 2022/23, an individual with zero income can realise a tax free offshore bond gain of up to…

a) £5,000

b) £6,000

c) £12,570

d) £18,570

To claim your CPD certificate, click here.

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