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Offshore Companies
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Using Offshore Companies and Offshore Trusts to reduce UK tax
This section includes articles on when offshore companies and offshore trusts can be used to reduce your UK income tax, capital gains tax and inheritance tax liabilities.
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Free Offshore Tax Guides For Members |
Tax guides are unique to WealthProtectionReport.co.uk and are free to members.
All tax guides have been written by a tax specialist (Chartered Accountant & Chartered Tax Adviser).
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Questions HMRC may ask when assessing the residence of an offshore company
28/08/2009
If you're planning on setting up an offshore company to avoid UK corporation tax on the profits of a UK trade or capital gains, one of the difficulties is ensuring that the central management and control is based overseas. In this article we look at some of the questions that HMRC may raise in an enquiry into the residence of an offshore company . . . keep reading
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How distributions from offshore trusts to UK residents are taxed
17/06/2009
Beneficiaries of offshore trusts will be looking at how to extract cash from the trust tax efficiently. Broadly speaking there are two options, either (1) an income distribution or (2) a capital distribution. This article looks at the UK tax implications of extracting cash as income or capital from an offshore trust . . . keep reading
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Capital gains tax and offshore foundations
08/06/2009
The tax treatment of capital gains which arise to offshore foundations is a complex and uncertain area. It's made more complex by the fact that there is no definitive guidance on exactly how a foundation is treated for UK tax purposes. Strictly speaking it is treated as a corporate vehicle but it displays some of the characteristics of a trust. This has led to a certain degree of overlapping in the provisions. In this article we look at how the capital gains tax anti avoidance rules could apply to offshore foundations. . . . keep reading
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Foreign footballers using offshore companies for UK property
01/06/2009
It's been reported that foreign footballers have been using offshore companies to purchase UK property. This can be advantageous in terms of avoiding UK tax, and in this article we look at exactly how using an offshore company can be a benefit in purchasing UK property. . . . keep reading
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Using an offshore trust to buy a UK property to reduce UK tax
17/04/2009
'Can I use an offshore trust to buy a UK property and save UK tax?' - It's a common question that we're asked, particularly by non doms who may already have an offshore structure in place. In this article we'll look at the key UK tax implications of using an offshore trust to purchase a UK property. . . . keep reading
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Reporting income of an offshore company on a UK tax return
08/4/2009
Offshore companies can provide significant UK tax advantages providing they're established as non UK resident. The two main problems for a UK resident looking to use an offshore company to avoid UK taxes are firstly Company residence and secondly the Transfer of assets abroad legislation. In this article we look at disclosure of income of an offshore company on a UK tax return . . . keep reading
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Tax planning for an offshore company with shareholders coming to the UK
30/03/2009
Many overseas individuals (usually non doms) come to the UK to live and work. A large number of them may be shareholders in an offshore company formed before they were UK resident which holds UK and overseas investments. This article looks at the UK tax impact of the UK resident director/shareholder and tax planning options . . . keep reading
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What level of central management & control needs to be carried out overseas?
20/03/2009
Establishing a company as non resident is now mainly applicable to offshore companies that can establish their management and control overseas.However actually achieving this is less straightforward. It's essentially a question of fact so HMRC / the Commissioners will look at where in actual fact the company is controlled from (where the 'real heart' of the company is). However when they refer to 'management and control' exactly what level of control do they mean? . . . keep reading
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Transferring a trade to an offshore company & UK tax
16/03/2009
If you carry out a trade via a UK company this will automatically be UK resident and as such subject to corporation tax on its worldwide income and gains. You can't 'migrate' the company to transfer it overseas. The only way you could achieve this result would be by establishing treaty residence overseas. However there is another option - transfer the trade to an offshore company. This article looks in detail at the UK tax implications and planning opportunities from transferring a trade to an offshore company . . . keep reading
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UK protectors and offshore trusts
27/02/2009
Protectors are often part and parcel of an offshore trust package. They can provide valuable comfort to the trust settlors (ie the person who establishes the trust) that their wishes and the wishes of the beneficiaries are being taken into account. This article looks at how an appointment of a UK resident protector would be treated for UK tax purposes. . . . keep reading
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Non Doms & their offshore companies after April 2008
13/03/2009
Many non doms had offshore companies that were used to trade overseas or otherwise hold overseas investment income. The changes to the tax treatment of non doms after April 2008 will necessitate a rethink of whether the offshore company structure should be retained.This article looks at the tax position of offshore companies for non doms after the April 2008 tax changes . . . keep reading
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Using offshore trusts and companies after April 2008
10/04/2008
There have been a number of tax changes - particularly to non UK domiciliaries that apply from April 2008. As such this article in intended as a summary of how UK residents will be taxed in relation to any offshore trusts or companies that they set up or are beneficiaries/shareholders of. . . . keep reading
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Offshore Tax Book
Non Dom Tax Book
Tax Havens Book
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Capital Gains Tax
Tax Planning Strategies with Offshore Companies
Using Offshore Trusts To Save Tax
