Offshore investments

What are offshore investments ?

• Accounts that are typically run from the Channel Islands, the Isle of Man and Ireland. Residents of the UK can gain from the tax rules governing offshore accounts. Interest is paid gross without income tax being deducted.

• You still have to declare the interest as income on your self-assessment return, this time deferral can benefit big savers as the account can roll up payments and earn interest on the gross, producing a bigger final payout.