Capital Gains Tax (CGT) Holdover Relief and Trusts
We can help you understand how your personal UK taxes are affected. We also help offshore trustees and other professional service firms with advice in these complicated areas.
An offshore trust is defined as a trust where the majority of trustees are based in an offshore jurisdiction. Creating an offshore trust can be an efficient way of protecting and transferring your wealth, but there are UK tax consequences for the unwary. This can include Income Tax, Capital Gains Tax (CGT) or Inheritance Tax and sometimes all three.
If you are a beneficiary living in the UK, it is important that you understand that the actions taken by overseas trustees may have direct UK tax consequences for you. This can be simply because of the type of investment profile, which results in adverse tax charges in the UK or because trustees accidentally trigger a CGT charge on a beneficiary. Managing the UK tax consequences of an overseas trust is therefore an important responsibility for the professional trustees based offshore.
The services we can provide you include:
Our specialist advice can help you protect and transfer your wealth on a range of matters, from planning a tax efficient distribution of funds, through to considering the UK tax implications of the trustees owning a UK property within a corporate structure.
Our private client team is one of the top accountancy firms for private client in the UK.
We offer you a truly joined-up service, with both our financial planning and private client tax working together to give you the best possible advice
Tolley's Taxation Awards 2019 Best Private Client Practice Finalist
We are a founder member of The International Accounting Group (TIAG)
4 Offices, London, St Albans, Rickmansworth and Milton Keynes