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Offshore investment wrappers and offshore trusts offer savings as tax loopholes close

Tuesday, December 20, 2011 | Posted by: Naomi Smith
Categories: Protecting your wealth | Tags: tax, tax planning, offshore, inheritance tax, IHT, tax havens, tax avoidance, domicile, Naomi Smith, tax haven, non-dom, tax evasion, discretionary trusts, tax saving, IHT planning, offshore trusts, investment income, offshore investment wrappers

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As HM Revenue & Customs (HMRC) steps up its mission to prevent British taxpayers illegally evading tax by holding their investments offshore and ‘forgetting’ to report them on their tax returns, we look at two legitimate opportunities to save tax through offshore set-ups: offshore investment wrappers and offshore trusts.

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What are the tax implications of bringing funds into the UK from abroad?

Tuesday, November 01, 2011 | Posted by: Naomi Smith
Categories: Personal, Protecting your wealth | Tags: tax, tax planning, offshore, income, domicile, Naomi Smith, residence, non-dom, residency, overseas, non-domicile, UK, offshore funds, non-residency, remittance basis, foreign income, ordinarily resident, tax liabilities, resident

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There are currently a quarter of a million online discussions asking questions about how you will be taxed if you bring money from abroad or transfer foreign income into the UK. The multitude of answers are enough to tax anyone’s brain, but the foremost deciding factor is domicile. Here,we look at the situation for both UK-domiciled and non-domiciled individuals.

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Will the Swiss tax deal be full of holes?

Thursday, September 22, 2011 | Posted by: Dave Jennings
Categories: Personal, Protecting your wealth | Tags: tax planning, HMRC, offshore, income tax, Dave Jennings, disclosure, tax havens, investigation, banking, penalties, Liechtenstein Disclosure Facility, tax amnesty, Switzerland, Liechenstein, Swiss, savings, evasion, Tax Investigations, UK-Swiss deal

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The new UK-Swiss deal clamping down on tax evasion is expected to drive UK investors into the arms of Liechtenstein – with significant tax savings possible through the Liechtenstein Disclosure Facility (LDF).

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Five arrested as HMRC cracks down on tax evasion among plumbers

Wednesday, August 17, 2011 | Posted by: Dave Jennings
Categories: Personal, Protecting your wealth | Tags: tax, entrepreneurs, HMRC, offshore, government, income tax, Dave Jennings, disclosure, budget, tax avoidance, income, relief, investigation, penalties, Liechtenstein Disclosure Facility, Liechtenstein, amnesty

The

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Seek amnesty or risk investigation as HMRC’s tax net tightens on offshore bank accounts

Friday, July 08, 2011 | Posted by: Dave Jennings
Categories: Personal, Protecting your wealth | Tags: tax, tax planning, HMRC, offshore, Dave Jennings, disclosure, tax havens, investigation, banking, penalties, Liechtenstein Disclosure Facility, tax amnesty, Liechtenstein, Switzerland, amnesty, LDF, HSBC, evasion, Tax Investigations

With a new round of tax investigations being launched into customers of HSBC in Switzerland, HM Revenue & Customs’ (HMRC’s) drive against holders of undeclared offshore bank accounts is heating up. Waiting to come forward could result in higher tax and penalties, so what are the tax amnesty options?

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Changes to non-dom taxation

Friday, June 17, 2011 | Posted by: Sue Knight
Categories: Personal, Protecting your wealth | Tags: tax, HMRC, offshore, Sue Knight, consultation, domicile, non-dom, UK residency, non-domicile, non-UK domicile, remittance, remittance basis, remittance basis charge, UK resident

This could be considered a familiar headline, but once again today, a consultation has been issued by the Government outlining proposed changes to the taxation of non-UK domiciled individuals.

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Shouldn’t there be tax amnesties for all?

Thursday, August 19, 2010 | Posted by: Grant Summers
Categories: Personal, Protecting your wealth | Tags: tax, tax planning, HMRC, offshore, disclosure, tax havens, penalties, Offshore Disclosure Facility, NDO, amnesty, evasion, medical, Grant Summers

With hundreds of billions of national debt and

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Tax truths behind the Dragons’ Den domicile row

Tuesday, May 18, 2010 | Posted by: Sue Knight
Categories: Protecting your wealth | Tags: tax, entrepreneurs, tax planning, investment, offshore, Sue Knight, IHT, James Caan, domicile, non-dom, Cayman Islands, non-domicile, Inheritance Tax, Duncan Bannatyne, Pakistan, earnings, Dragons’ Den

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The

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200% penalty for offshore tax evasion

Thursday, April 22, 2010 | Posted by: Dave Jennings
Categories: Personal, Protecting your wealth | Tags: tax, tax planning, HMRC, offshore, Dave Jennings, investigation, penalties, Liechtenstein Disclosure Facility, Liechtenstein, OECD, amnesty, LDF, tax haven, 200%

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Tax, or National Insurance, was bound to be in the headlines during the Budget and Election but very little beats the threat of a 200% penalty for attention. Combined with a

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Tax scams, offshore partners and millionairesses – April wealth links

Tuesday, April 20, 2010 | Posted by: Fiona Cullinan
Categories: Personal | Tags: tax, links, HMRC, offshore, wealth, women, James Caan, tax haven, millionaire, Duncan Bannatyne, Felix Dennis, phishing, scams

Who wants to be a millionaire? Girls do, apparently – and they’re succeeding in ever increasing numbers. Also this month – how much counts as rich, the latest tax scams being carried out in the name of the HM Revenue & Customs (HMRC) and other wealth-related stories here on the Bespoke blog.

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