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One of the finest ways you can support and set up your children for life is by providing them with the best education you can. Starting your planning early is crucial to ensure you have the financial resources to provide your children with the university education you and they want. With ever increasing costs of university fee's and international schools the earlier you can start saving the better.
Alexander Peter Wealth Management have been helping expats like you fund for their childrens education for years. We utilise specific offshore savings plan, designed with funding for education in mind.
We use the largest insurance companies and banks in strong offshore locations such as Guernsey, the Isle of Man, Jersey and Luxembourg for tax efficient growth and security.
Many plans can offer guanateed rates of return with 100% capital proection enabling you to plan effectively for the future.
BENEFITS ASSOCIATED WITH YOUR PLAN
You can control the tax point by choosing when to take the benefits which can be useful if you become a lower rate tax payer or if you have moved to a different country with a lower tax rate. If you are a UK tax payer, you can currently withdraw up to 5% of your original investment each year for up to 20 years, without triggering a chargeable event. Taking regular withdrawals can be a tax efficient way of using the plan to provide a form of income. This benefit is cumulative, so you can carry forward your 5% allowance if you don't use it each year. Please note that withdrawals to provide an income will be taxed as a return of capital.