Offshore Messenger August 2015

Offshore Messenger continues to highlight the key areas to assist offshore trustees, company directors and related professionals whose clients have UK connections.

Non doms - stay or go after 15 years?

06 August 2015

Changes to the taxation of non-doms were perhaps expected after the UK general election; however, they were not expected on such a fundamental scale. Whether non-doms will stay or go, and what the net impact on the UK economy will be, is a big unknown!

Chancellor extends tax evasion measures in UK Summer Budget

06 August 2015

There was no let-up in the Government’s and HMRC’s message regarding tax evasion, with significant announcements and publications on how they intend to crack down on offshore tax evaders.

Inheritance tax to apply to UK property held indirectly by nom-doms

06 August 2015

The Summer Budget 2015 introduced yet another significant (and perhaps the last) tax targeting of UK residential property, with the proposal to apply UK inheritance tax to property held indirectly by non-doms including through excluded property trusts.

Non-resident landlords - reliefs to be reduced

06 August 2015

UK government proposes to tackle the buoyant buy-to-let market and perceived tax advantages by reducing tax reliefs for finance costs and wear and tear.