The primary objective for most of our clients is to mitigate tax. “The hallmark of tax mitigation is that the taxpayer takes advantage of a fiscally attractive option afforded to him by the tax legislation” as defined by the House of Lords.
Changes in case law, legislation, and the attitude of HMRC in recent years, have severely constricted tax mitigation in the UK. However, significant opportunities still remain for efficient tax structuring for the affluent client, who wishes to maximise the planning opportunities that are available for their benefit and that of their families.
UK legislation provides a number of statutory reliefs which allow assets to be passed, free of tax, from UK individuals into offshore trust arrangements. A simple, low-cost route has been created to take full advantage of the reliefs available.
A UK resident individual owns a Portfolio of investments. These are usually properties but may be anything of a capital nature. The properties may be mortgaged. The incidence of capital gains and income taxes is a significant problem in the commercial management and growth of the Portfolio. The Portfolio also carries the burden of inheritance tax on the death of the owner(s).
BUSINESS ASSETS PLAN:
Using legal strategies successfully implemented for over a decade now, the Portfolio can be moved under statutory protection into a tax free trust based environment, usually Jersey which has a well established pedigree in such matters and which operates under a robust regulatory structure.
These benefits are provided through the implementation of a highly technical Product by collaborating expert taxation, legal and fiduciary professionals. Comprehensive written professional advice, together with specialist consultation and client support – both during and after the transactions – are included in the fixed fee.