Helping our client to understand complex offshore tax planning2024-03-21T12:46:58+00:00

Helping our client to understand complex offshore tax planning

Get in touch to discuss your tax 07813 434195 stephanie.churchill@churchilltaxation.co.uk

The Problem

We were called upon to advise Mary on her UK residential portfolio, which is owned via a company and trust structure based in Jersey, set up many years ago.

New rules were introduced by HMRC on 6 April 2017, which mean UK property owned by non-residents is now within the scope of UK capital gains tax and UK inheritance tax.

Mary wanted to know how the new rules would impact the day-to-day running of her offshore structure. She was considering closing the structure and wanted to know what the tax impact of doing so would be.

The Solution

We produced a comprehensive report on how her offshore structure would operate following the introduction of the new rules. Our findings also considered the tax implications of closing the trust, and what that would mean for the trustees and beneficiaries.

Mary identified there was a need to consider her offshore structure on an ongoing basis because the tax changes in this area were vast and evolving. She also discovered it would be difficult to unwind the structure without incurring some form of tax.

As a result of our report, Mary has a clear understanding of the impact of any decision she might take, which means she’ll avoid making costly errors.

TAX ADVICE
ACROSS THE UK

Based in Dudley, in the West Midlands, we’ll work with you over the phone or on email, so it doesn’t matter where you are in the UK.

Our support can help you whether you live in London, the South, the Midlands, Wales, or the North.

With Churchill Taxation, you’ll benefit from the skills of a highly qualified team, combined with a tailored, personal service, ensuring you receive the right advice for you.

PERSONAL
TAX

We’ll review all your personal tax matters to give you peace of mind. Our services include self-assessment tax returns, capital gains tax, offshore tax planning, inheritance tax and personal tax investigations.

We work with a wide range of private clients, from sole traders and entrepreneurs to high net worth individuals (HNWIs), retirees and married couples. With our support, you can be confident your tax matters are in safe hands.

SMALL BUSINESS
SUPPORT

As a small business owner, the word ‘tax’ may fill you with dread.

But it doesn’t have to be that way.

We’re here to take the pain out of your business tax by saving you time and hassle and making sure you don’t fall foul of HMRC rules. Our advisers are trained to deal with all areas of tax that are relevant to your small business. This includes corporation tax for limited companies, VAT and income tax for partnerships.

TRUSTS AND
ESTATES

If you’re a trustee or executor, we’ll work with you to ensure your trust or estate is managed efficiently and correctly.

We can also help if you’re a financial adviser, accountant or solicitor looking for specialist tax advice in relation to trusts and estates.

Our team of experts understand complex tax legislation and are up to speed with the latest developments, so you can rely on our advice.

No surprises

Our prices start from £295 per hour plus VAT, and our fees are agreed at the start, so you’ll be clear on the cost.

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