Ascentric launches offshore bond
Wrap platform Ascentric has launched an offshore bond administered by Isle of Man-based Royal London 360.
Several of Royal London 360’s trusts will be available for use with the new bond, including the Select Discounted Gift Trust which is designed to help reduce the value of an individual’s estate for the purposes of calculating inheritance tax, the firm said.
Because the product is administered on the platform’s gross nominee service, income is distributed on a gross basis. This, according to Ascentric, eliminates the need for any party to reclaim tax on the client’s behalf.
Ascentric already has four offshore bonds available on its platform through other product partners.