Recent months have seen Trustees grappling with key changes to the UK Trust Register Since 2017, offshore trustees have been required to register non-UK trusts with HMRC to the extent that the trust was liable to UK Income Tax or Capital Gains tax. The “UK Trust Register”, as it is known, maintains a central register…Details
De-envelope? Depressed housing market may present golden opportunity to review offshore structures holding residential property.
It has been widely reported that the UK housing market will be significantly hit by the impact of Coronavirus. Property agents, Knight Frank, predict that this will lead to a 38% decrease in the number of houses sold in the UK during 2020. Experts can only speculate on the short to medium term impact this…Details
Super Rich Stranded by Lockdown Today in Bloomberg , Mark Davies describes the recent havoc wreaked on his clients’ tax plans:- “The pandemic means we’ve now got people stuck in the U.K. who didn’t intend to be here, and people who did want to be here that couldn’t,” he said. “It’s gone both ways.” With…Details
We are living through exceptional days. Understandably, the spread of COVID-19 and the measures that have been implemented to delay its transmission mean that tax may not be at the forefront of people’s thinking. However, there may be significant tax consequences for those individuals forced to remain in the UK due to measures outside of…Details
Less than a month ago Mr Sunak was the Chief Secretary to the Treasury, but following Sajid Javid’s surprise resignation on 13th February, Mr Sunak was appointed Chancellor of the Exchequer on the same day. I’m sure Mr Sunak had not expected the sudden promotion, and I am pretty sure he had not anticipated the…Details
Corbyn forcing people to move money offshore before Election Day Wealthy individuals are fearful that Jeremy Corbyn will be the next Prime Minister of the United Kingdom causing their wealth and the value of GBP to depreciate. As such these individuals have opted to transfer their money offshore ahead of the general election on…Details