This research was commissioned by HMRC to provide further insight into the operation of the offshore investment market. The specific aims were to:
- collect views and experiences from financial advisors about the offshore investment market and approaches they use for UK residents;
- explore with financial advisors their understanding of their customer base and the genesis and ongoing nature of the advisor/customer relationship;
- identify the stages in and influences on the decision making process that financial advisors perceive their customers make around understanding and accessing offshore products; and
- identify with financial advisors if, when and where potential tax management issues are raised and if and how these are managed.
In-depth interviews took place between July and September 2015 with representatives from 16 UK authorised banks that offered offshore investment advice.