Wealthy Britons are moving unprecedented sums into offshore bonds as they brace for higher taxes and seek more flexible ways to manage their wealth.
According to data reviewed by the Financial Times, around £10.5 billion was invested in offshore bonds in the 12 months to June, more than double the £5.1 billion recorded the previous year — marking a record-breaking surge in demand for overseas investment wrappers.
Financial advisers say the trend reflects the growing unease among higher earners over the UK’s increasingly complex tax landscape, with Ireland, Luxembourg, and the Isle of Man emerging as the most popular jurisdictions for new bond purchases.
The shift comes as the government continues to freeze income tax thresholds and reduce tax-free allowances, pulling more middle and high earners into higher tax bands.
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