UK and offshore trusts have become very important solutions for high net worth families to protect wealth from the ravages of inflation, taxation, and divorce.
Jersey trusts are exempt from tax in Jersey and are widely used to avoid probate and forced heirship rules in continental Europe and the Middle East. Since the Finance Bill 2008 the use of an offshore trust such as a Jersey trust will become essential to protect UK resident but non-domiciled clients from capital gains on UK assets, and with appropriate planning can help such clients to claim the remittance basis without incurring the £30,000 p.a. charge.
Specialists in our UK and Jersey offices can assist you in the creation of an appropriate trust structure. Our UK trustee often acts as a co-trustee with our Jersey trustee, particulary as such 'mixed residence trusts' do not pay UK tax on non-UK source income.
The UK trustee can then be used to acquire certain trust assets (e.g. shares or property) where the use of an offshore trustee to hold legal and visible title to the assets is not desired.
Contact us to discuss your requirements
