There's light at the end of the tunnel

Around UK budget time it is usually the offshore life companies that have the hardest time and this year has been no exception. Not only have these companies taken the brunt of the UK's attempt to crack down on tax avoidance schemes, but it has occurred just when negotiations between International Financial Centres (IFCs) and the EU over everything from money laundering to tax avoidance have been peaking. In the UK, the big issue is that of the 'pre-owned asset tax', which attempts to prevent obvious inheritance tax mitigation schemes to do with gifting assets like a house and then conti...