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Key changes to UK Trust Register

Articles and Publications, Offshore Trusts and Structures, Press Releases and Commentary, Tax Updates

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…

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Will HMRC recognise these exceptional days ?

Articles and Publications, Offshore Trusts and Structures, Tax Updates, Taxation of Nondoms

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…

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The Telegraph – If Corbyn gets in, we are sending our money to Switzerland

Articles and Publications, Press Releases and Commentary, Tax Updates

  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…

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HMRC Certificate of Tax Position? What should you do?

Investigations, Offshore Trusts and Structures, Tax Updates, Taxation of Nondoms

HMRC have started to contact UK taxpayers about their offshore income and gains, showing that the UK’s participation in the Common Reporting Standard (“CRS”) is in full force.  What is the Common Reporting Standard? Over 100 countries have signed up to CRS and information regarding the level of income and gains earned by worldwide taxpayers…

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