I am the Member of an Offshore FURBS, which was established three years ago by my employer, a company of which I was the sole director. My employer made a contribution to the FURBS in the form of an in specie transfer of an Offshore Insurance Bond. I am content that this side of things is in order.
My concern is that the wording of the FURBS Trust deed permits personal contributions from me. I have subsequently discovered this is exceptional. My questions are as follows:
1. Are personal contributions to FURBS permitted under any circumstances?
2. If I make such contributions, is there any consequence with regard to the tax changes in the 2006 Budget?
Thank you.
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