Trusts in Prime Jurisdictions: The UK tax treatment of offshore trusts by Maggie Gonzalez

Last updated: 14 December 2020

Published by Globe Law and Business, this is the fifth edition of Trusts in Prime Jurisdictions. As a Partner in Buzzacott’s Private Client team, Maggie and her team specialise in the UK taxation of offshore trusts and structures, their settlors and beneficiaries and non-doms generally. 

With over 25 years’ experience in the private client field, this chapter draws on Maggie’s wealth of expertise to explain the complexities of the UK’s tax legislation for offshore trusts. Entitled ‘the UK tax treatment of offshore trusts’, the chapter explores the UK’s extensive anti-avoidance legislation as it applies to different types of offshore trusts, covering income tax, capital gains tax and inheritance tax. It also takes a look at how the domicile status of UK resident beneficiaries and settlors can affect their liabilities for UK taxes arising from their connections with an offshore trust. 

 “The offshore trust has proved a popular tool for financial planning in the United Kingdom – not only to minimise the incidence of UK tax on income, gains and assets, but also to provide financial security for the settlor’s family.” To keep reading, follow the link below for an extract from the chapter.

The UK tax treatment of offshore trusts - chapter extract