nder the Labour Government the use of offshore structures by British Residents has been strictly contolled and any obvious tax avoidance structures have been subject to enquiry and brought "onshore" for UK taxation purposes.

Nevertheless for overseas residents and overseas domiciled individuals the use of offshore stuctures can be benificial from the UK Tax planning point of view. Furthermore due to a low rate of UK Corporation Tax Overseas companies have found that International group structures with a UK Resident Company can be extremely beneficial.

Some of the advantages of using an offshore company are as follows:-

1. To provide a secure base for assets of all descriptions including protection from political confiscation or evaporation.
2. To shield assets from exchange control regulation.
3. To enable income or capital taxes to be avoided or deferred.
4. To separate different beneficial owners or business activities.

Legislation has been adopted not only in the United Kingdom but also throughout the developed nations of the world to counteract the loss of tax revenue through the use of "offshore companies". Nevertheless the scope still exists for the legitimate avoidance, reduction or deferral of income and capital taxes through the use of offshore companies. It is however, most important that anyone seeking to establish an offshore company for whatever purpose, should first seek professional advice, to ensure that any taxation advantages gained are not outweighed by other taxation or commercial disadvantages.

We maintain close contacts with other professional firms throughout the world and are able to utilize their expertise to advise on client's affairs.