22 Sep 2019

Offshore Investment Bonds (when, why, for whom)

A question about : Offshore Investment Bonds (when, why, for whom)

I have been told by pm that it is a surprise that such a bond was advised (all those years ago) to me a non tax payer.
The sugestion is that it is only of benefit to higher rate tax payers.
An on-shore bond has some (company / corporatuion / other?) tax taken (/ used /offset) which cannot be reclaimed by a UK resident.
I am unclear why only a higher rate tax payer ? Is it not also lost to anyone who cannot reclaim it ?

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