How we helped an executive with complex offshore requirements

Our client came to us for advice on how to fund charitable donations and later, help his children onto the housing ladder. Our Wealth Planning Team advised him on how best to achieve these goals and also helped him with a recent accidental remittance, when offshore income was unintentionally brought into the UK.

We advised him of the benefits of donating offshore funds to charity through a “Donor Advised Fund,” a charitable giving vehicle that allows the client to retain control over donations. This would generate tax relief that could be offset against UK income, without triggering a further taxable remittance. We invested assets held within the fund in a diversified, growth portfolio with a long-term time horizon.  

We advised him on Enterprise Investment Scheme opportunities as part of a broader investment strategy. These could be funded from accumulated offshore income and gains and generated tax relief that could be offset against his remittance liability. It also provided funds to young, UK-based companies, a sector he was very keen to support.

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This strategy was based on our understanding of prevailing tax legislation at the time and should be reviewed on a regular basis in light of changes in legislation and personal circumstances. You should obtain professional advice on taxation where appropriate before proceeding with any investment.

This article is issued by Cazenove Capital which is part of the Schroders Group and a trading name of Schroder & Co. Limited, 1 London Wall Place, London EC2Y 5AU. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. 

Nothing in this document should be deemed to constitute the provision of financial, investment or other professional advice in any way. Past performance is not a guide to future performance. The value of an investment and the income from it may go down as well as up and investors may not get back the amount originally invested.

This document may include forward-looking statements that are based upon our current opinions, expectations and projections. We undertake no obligation to update or revise any forward-looking statements. Actual results could differ materially from those anticipated in the forward-looking statements.

All data contained within this document is sourced from Cazenove Capital unless otherwise stated.