Zurich Investment V Bare Trust

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Scrooge

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Hi Guys I have my two kids monthly childrens allowance being deposited into a Zurich Prisma 5 account.

As can be seen from below I have paid in 61k and the current encashment value is 65k after tax.



My query is if this was setup as bare trust first day instead and as all deposite were under the 3/6k CGT from parents (married) to children.

Would the current encashment value be closer to 69k.


In essence should I have setup as bare trust instead (focusing purely fromm an investment point of view)




CURRENT ENCASHMENT VALUE:69532.26
CURRENT ENCASHMENT VALUE (AFTER TAX):65633.20
TOTAL PREMIUMS PAID:61344.98
 
Setting it up in your own name or by assignment/trust makes no difference to the taxation of the fund value.
 
Thanks Gerald, is the taxation not sorted at source ?

For example before any gains are taken into account ?
 
Scrooge said:
Hi Guys I have my two kids monthly childrens allowance being deposited into a Zurich Prisma 5 account.

As can be seen from below I have paid in 61k and the current encashment value is 65k after tax.
Click to expand...
OP has done everything right here. Many years of consistent regular investment to build a fund of 61k, reasonably high equity exposure due to long term nature of investment. And, after all that, TOTAL growth after tax and charges is 4k or 6.5%. Am I missing something or are things really this bad for Irish customers trying to invest outside of a pension?
 
Scrooge said:
CURRENT ENCASHMENT VALUE:69532.26
CURRENT ENCASHMENT VALUE (AFTER TAX):65633.20
TOTAL PREMIUMS PAID:61344.98
Click to expand...
Are you sure about this?

Gain: 69532.26 - 61344.98 = 8187.28
Tax: 8187.28 x 41% = 3356.79
Net encashment value: 69532.26 - 3356.79 = 66175.47
 
What is the allocation rate?
What is the annual management charge?

These will be deducted from the monthly payments and fund value respectively
 
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