Tax Planning (onshore and offshore)
Royds offers a comprehensive tax planning service whether you are resident in the UK or abroad, and whatever your domicile status. We have a strong client base including traditional landowners, entrepreneurs, individuals in the media & entertainment industries and city professionals.
Taxation is usually a hot topic, but even more so in the present days of the government’s moves to reduce the deficit by increasing tax rates, clamping down on tax avoidance and attempting to simplify taxation.
UK based tax planning may involve:
- making lifetime gifts;
- setting up/varying trust structures and other vehicles;
- loans and other schemes;
- the effective use of inheritance tax and capital gains tax allowances, reliefs and exemptions;
- restructuring your investments;
- succession planning for family businesses and farms; and
- of course, ensuring your Will is drafted in a tax efficient manner.
We work closely with accountants, investment managers and other professional advisers to achieve a smooth, comprehensive service which is cost-effective and tailored to your circumstances. This may involve our own colleagues advising, for example, in relation to a divorce or on corporate structuring for businesses owners.
From an offshore tax planning perspective Royds advises expatriates, overseas investors, city professionals who have to work abroad, and couples with different domicile statuses, on taxation and family wealth preservation.
We are able to advise which jurisdiction is most suitable for individual families and how best to structure your assets, for example creating a separate trust or company structure to hold funds for the benefit of individuals or a company. We will ensure that our advice takes account of practical and family matters and is not purely tax-led, but in the best interests of you and your family and/or your business overall.
Our international network of law firms Interleges gives us access to trusted lawyers in other jurisdictions to provide expert advice on cross-border issues. Royds also has contacts with private banks, family offices and trust companies which enable us to give a fully rounded service.
Recent Cases include:
- Setting up a trust for a non-domiciled individual before they returned to the UK
- Advising on an offshore structure to hold a UK property for a member of a Middle Eastern royal family
- Inheritance tax planning using real property assets
For further information, please contact Tony Millson and Deanna Hurst
