Cash clinic

Q: Are offshore trusts still an attractive structure following the changes in the Finance Acts of 2008 and 2006? A: The current UK Government views 'tax avoidance' as the primary motivation for creating a trust; but is this fair? It is all very well to focus on the tax advantages of offshore trusts, but to look at them in isolation and fail to acknowledge the outnumbering non-tax advantages distorts the bigger picture. Whether you are completely in the UK tax net (i.e. UK resident and domiciled), a UK resident non-dom or a non-dom resident abroad but with assets located in the UK, then ...