Tax efficiency

PIMS benefits from the tax efficient treatment enjoyed by offshore bonds issued in the Isle of Man.

The underlying investments within PIMS are held in a single wrapper and are not subject to tax apart from any withholding tax that may be deducted at source on income arising from investments held in some countries, that cannot be reclaimed by us. The effect of this is a greater potential for growth, and is commonly referred to as "Gross roll-up", this is illustrated in more detail in the Guide to Investment .

You should remember that you may have a personal liability to tax, depending on the tax regime in your country of residence and we are unable to provide you with individual tax advice. We always recommend that you speak to your financial adviser or tax professional about your tax situation before applying for a PIMS policy.