UK Resident Doms and offshore trusts

Postby Pueblo on Thu Apr 20, 2006 6:39 am

Can a UK res dom individual set up an offshore discretionary or IIP trust...a quick answer is much appreciated.
Pueblo
 
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Postby Lee Young on Thu Apr 20, 2006 11:31 pm

yes, but the perceived/expected tax benefits will not apply.
Lee Young
Solicitor, Chartered Tax Adviser and Trust and Estate Practitioner


Partner, Frettens LLP
leeyoung@frettens.co.uk
01202 491701
Lee Young
 
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Postby Taxbar on Fri Apr 21, 2006 3:19 am

Might I just add.

Unless, there is a special type of trust used and expert UK tax planning, there will be absolutely no tax advantages and if over the £285k nil band and immediate charge to IHT @20%!


Daniel Feingold
STP
info@stratax.co.uk
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