Tag Archives: Offshore Tax Planning
What Is the Difference Between Residence and Domicile?
One thing that can be clearly seen amid all the arguments over the status of Lord Ashcroft is that neither the press nor the politicians really understand the difference between someone being resident in the UK or being domiciled in the UK. It is rather painful to listen to the claim and counterclaim of so [...]
Full StoryWhat Is Transfer Pricing?
“Transfer pricing” is an increasingly important and contentious area of international tax law. This is because so much of modern world trade involves the transfer of goods, intangibles or services within multinational enterprises (MNEs) – groups of companies or related businesses based in 2 or more countries.
Such international trade offers scope for an MNE to [...]
Last Desperate Attempt by a Bankrupt Government
In what may be seen as a final act of desperation by a morally, legally and financially bankrupt UK government, the Treasury, having failed to “crack down” on what it sees as tax avoidance by banks (the UK courts don’t agree with HMRC) has now come out with a “Voluntary Code”.
Not only is this daft – [...]
Offshore Investing
Investing Offshore can be a very attractive option for the discerning investor who would like to explore other markets, shield his or her investments from potential capital lawsuits, or grow them in a confidential, secure investment not governed by the rules and regulations of their home jurisdiction.
Over a year ago I posted an article Investing [...]
The Benefit of Offshore Trusts
For many years UK taxpayers benefitted greatly by transferring (settling) their assets in offshore trusts, but increasing ant-avoidance legislation has led people to believe that there is no point in using an offshore trust any more.
Whilst it is true that the tax advantages are no longer as good and they once were the fact is [...]
It is official: the Isle of Man is NOT a Tax Haven
As promised by Gordon Brown at the end of the G20 summit today, the OECD (Organisation for Economic Cooperation and Development) has provided a detailed report on progress by financial centres around the world towards implementation of an internationally agreed standard on exchange of information for tax purposes.
The list is split into four sections and [...]
Offshore Tax Havens: Who Did Chancellor Merkel Have in Mind?
Anyone setting up a business in Germany has a few problems to overcome. High taxation, high social charges, and high cost of company formation to name just three. That’s why more and more Germans are setting up companies in the United Kingdom.
Believe it or not, the UK remains very business friendly. Anyone can set up [...]
