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August 2014


The new consultation paper issued today by HMRC, which plans to make it a criminal offence to evade offshore tax, will directly impact those investors looking to move money to non-disclosure jurisdictions. HMRC will ‘prioritise for criminal investigation’ those who move out of a jurisdiction with a disclosure agreement in place* in an attempt to escape scrutiny.


Skandia International, part of Old Mutual Wealth, today announces the launch of a flexible offshore investment bond in Spain. The award winning European Capital Account (ECA) has been redesigned especially for the Spanish expat market to meet the growing demand for a flexible savings solution.


Skandia, part of Old Mutual Wealth, today announces the launch of informer, a new website for financial advisers, offering access to a wide range of technical support and financial planning information. The site replaces Skandia’s long running adviser publication of the same name and will shortly be available as a mobile app.


Old Mutual Wealth, comprising Skandia, Skandia International and Old Mutual Global Investors (OMGI), saw net client cash flow (NCCF) increase by 50% in the first half of the year to £1.2 billion (H1 2013: £0.8 billion). The increase demonstrates strong demand for Old Mutual Wealth’s investment solutions via its new Skandia WealthSelect offering, as well as funds offered by OMGI, in particular UK Alpha and Global Equity Absolute Return.

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