ecently 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
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.
of the advantages of using an offshore company are as follows:-
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.
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.
maintain close contacts with other professional firms throughout the
world and are able to utilize their expertise to advise on client's