Articles & Video
Complex offshore structures – traps and pitfalls: a practical guide
There has been a growing trend over recent years for the development of bespoke and complex holding structures to accommodate the needs and sensitivities of ultra-high net worth individuals. Often, the clients originate from civil law jurisdictions and as a consequence are unfamiliar with trusts and the fiduciary relationship created. There is (understandably) suspicion.
I can see clearly now…
In recent years, there has been a positive deluge of reporting initiatives affecting UK individuals, entities and structures with a UK connection. Some of these have come from the USA (so-called “FATCA”), some from the OECD (the Common Reporting Standard), others from the EU (as a result of the 4th Anti Money Laundering Directive) and others are simply ground-breaking initiatives by the UK government.
Pensions Tax: Chancellor Must Fix Past Failings
Nobody will ever criticise former Chancellor of the Exchequer George Osborne for bringing forward too few new tax laws. The sheer weight of tax legislation enacted on his watch will ensure that. But in a report published on 11 October 2016 the respected Office of Budget Responsibility highlights inadequacies in the policy thinking which underpinned Mr Osborne’s changes to private pensions and savings. ‘Never mind the quality, feel the width’ to quote the old television sitcom. We call on the new Chancellor to remedy the defects