UTMOST PANEUROPE DAC
A tax-efficient, managed portfolio tailored for your clients’ needs.
Delegation (provided by Utmost PanEurope dac) is designed to help preserve your clients’ wealth by allowing you and your clients to concentrate on tax planning, while leaving the investment portfolio to be handled by an expert discretionary fund manager.
Tax planning and expert management
Delegation has been built specifically for use with discretionary fund managers, allowing them to build and manage your clients’ investment portfolios using a much wider range of collective and non-collective investments than would be available with a ‘conventional’ investment bond.
- That means:
- The portfolio can be tailored more closely to their individual income and growth needs
- The discretionary fund manager can manage the portfolio in line with their usual process
- The overall cost of the portfolio can be lower because the discretionary fund manager can invest directly in exchange listed securities instead of paying the management charges of collective investments
Delegation is an investment bond, offered by Utmost PanEurope dac who are based in Ireland, and is designed for clients who want to invest for the medium to long term – 5 to 10 years or longer.
It is managed by a discretionary fund manager and your client hands over full responsibility for their investments to their chosen manager. If they want, your client can nominate a second discretionary fund manager as well, but there’s a maximum of two per Delegation bond.
Your clients can choose Delegation on a life assured or capital redemption basis.
- A life assurance bond – can continue for the lifetime of the lives assured.
- A capital redemption bond – can continue for up to 99 years.
Your clients can decide which option to take when they set the bond up. Please bear in mind, they can’t switch later on.
Your clients’ funds can grow free of tax while they are held in the bond, with the exception of withholding tax, which is deducted at source from certain funds. And their funds can be switched free of tax too. They’ll usually only pay income tax on any gains when they take money out. That means they’ll be able to have some control over when they pay the tax, allowing them to pay this at a convenient time.
That’s not all: they can also take up to 5% of their original investment amount each year, up to a total of 100% of their original investment amount over twenty years, through regular or one-off withdrawals, without any immediate tax liability. And if they don’t use the full 5% annual tax-deferred entitlement in one year then it can be carried over to following years – so they don’t miss out.
Sometimes your clients might need to take a lot more than their 5% entitlement. To help with this and allow even more tax-planning flexibility, Delegation is split into lots of identical policy segments, which can all be cashed in or assigned individually. If your clients do go over the 5% tax-deferred entitlement the extra amount may be liable to income tax.
Delegation could play an important role in your clients’ UK inheritance tax planning. To pass on their wealth in the way they’d like, your clients might want to set up Delegation and a trust at the same time. Or, if they’d like to start their inheritance tax planning later on, they can set up Delegation first, and then assign it into a trust in the future.
To learn more about how trusts could help them plan for UK inheritance tax, view the Trusts and Trustee page or call our Customer Support team on +44 (0) 1624 643 345.
(Telephone calls may be recorded)
The investment portfolio is handled by a discretionary fund manager on a full discretionary basis. It gives the manager access to a huge range of assets, including those not normally available to UK investors in a tax-compliant investment bond.
Your clients can’t select the individual investments, and they can’t influence how their discretionary fund manager does this either. But they do complete an investment mandate where they can choose their investment objective, as well as confirm their attitude to risk and any special preferences, such as avoiding investment in tobacco or firearms.
Delegation is for individual, trustee and joint investors over the age of 18. There’s no maximum age. And it’s available in a choice of pounds sterling, US dollars or euros.
Delegation is designed for UK residents.
The minimum investment amount depends on the number of discretionary fund managers your client appoints.
- If they have one discretionary fund manager it’s £100,000, US$200,000 or €150,000
- If they have two managers it’s £500,000, US$1,000,000 or €750,000
- If they’re resident in the UK, our client can invest more money at any time they want, subject to a current minimum of £20,000, US$40,000 or €30,000.
Find the information you need to service and act on investment changes for your clients. You can:
- Create valuations showing what your client’s bond is worth
- View and download adviser charging statements.
You can find Delegation literature in our literature library. Or you can get started now by downloading our client-friendly Product Guide.
EXPERT HELP, A PHONE CALL AWAY
We’re here to talk through the options available. Get in touch with us on
or talk to your Regional Sales Manager. Please note that we might record your call to help us improve the service we give you.