Introduction
2008 has seen dramatic changes in the UK tax rules applicable to offshore tax planning. The headlines were captured by the new rules for non domiciliaries. But that legislation has also resulted in changes to the CGT capital payments code and to the rules applicable to individual residency.
The effect of the changes is that offshore trusts remain a vital tool in financial planning for non domiciliaries resident in the UK. They also continue to secure advantages for those who are both resident and domiciled in the UK. But as always the rules are complicated and must be understood if the hoped-for advantages are to be secured. Many traps exist for the unwary. Read more >>