Opening the envelope? STEP Journal publishes our “Pros and cons of de-enveloping UK residential property”

Mark Davies, Jon Elphick and Nick Beresford consider the benefits of unwinding an existing offshore structure. KEY POINTS What is the issue? Further changes are being introduced that will result in offshore structures owning UK residential property becoming less attractive from a tax perspective. What does it mean for me? These structures need to be reviewed to…

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Proposed reforms to the taxation of non-doms announced by Treasury

Summary of Consultation Paper issued 30 September 2015  Government’s stated policy aims:- Persons who are UK resident in 15 out of the last 20 tax years will become “deemed domiciled”. They will pay tax on their worldwide personal income and gains, but foreign income and gains sheltered within an offshore trust will escape taxation. Persons…

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Mark Davies comments in The Times re non-doms and the July Budget 2015

How the non-doms keep their cash safe Michael Savage and Francis Elliott | The Times Published at 12:01AM, July 10 2015 Wealthy non-doms will successfully move their money or relocate overseas to avoid paying hundreds of millions of pounds under new tax laws, according to a Treasury analysis. The figures indicate that non-doms will shift…

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