There have been significant changes to the UK taxation of Offshore Trusts in recent years, however they can still be beneficial to international families. They can provide asset protection and a form of living Will that allows an individual to control who benefits from their wealth both during their lifetime and after their death.

Our Trust experts can support you in structuring your wealth effectively, whether helping to set up an Offshore Trust, managing an existing structure or responding to Beneficiaries’ changing circumstances. This includes:

• Advising on creating a new trust, managing an existing one, or winding up a structure which no longer serves its purpose
• Assisting trustees and beneficiaries to understand the UK tax implications of making distributions or providing benefits to UK or non-UK resident beneficiaries
• Helping trustees to navigate other actions which might have UK tax implications, for example change of trustee residence, making or taking out loans, investing in different asset classes, etc
• Advising on foreign entities such as anstalts and foundations
• Computing relevant income and stockpiled gains pools
• Dealing with UK Tax Returns whether for Income Tax, Capital Gains Tax or Inheritance Tax purposes
• Assistance with ATED (Annual Tax on Enveloped Dwellings) returns
• Helping trustees with HMRC’s Trust Registration Service
• Preparing Personal Tax Returns for Beneficiaries to disclose their trust distributions and ensure they are taxed correctly.