Continue reading "Taxation of offshore trusts: Gremlins in the legislative machine"
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Taxation of offshore trusts: Gremlins in the legislative machine
Dominic Lawrance and Catrin Harrison highlight the unsettling reality of protected settlements ‘In light of this latest statement from HMRC, the issue of offshore income gains (OIGs) may now lead to litigation, if there is a foreign-domiciled settlor with sufficient tax exposure and sufficient temerity.’ Recent Finance Acts have made major changes to the UK’s …