Taxation

 

Tax Reductions for HNWI's

A Life Time Trust may be the answer?

 

Information and offer for our High Net Worth and Ultra High Net Worth (HNW - UHNW) clients: You will be aware from numerous media reports that the U.K. Government finances are in very serious trouble. “Brexit” was, in part, an attempt to stop the EU implementation of its worldwide tax regulations onto the U.K. These regulations would have many similarities to the USA FATCA (Foreign Account Tax Compliance Act) regulations where all banks are obliged to report to the USA revenue all earnings, incomes, and gains. At some point in time, a U.K.

Government may be voted into power, where “resident but not resident for tax purposes” may change to “worldwide income”. If this were to happen it is possible that many HNWs and UHNWs would have to pay tax on worldwide income. In addition, other assets could fall under the “Income Taxes Management Act”, where substantial death duties may also need to be paid (severely depleting the assets available for heirs and successors).

If you have concerns relating to the protection of your cash and hard assets and you wish to secure the financial future of your family, children, grandchildren etc, we can help. Succession planning via a “Life Time Trust¨ may be the answer.

 

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