Offshore accounts, trusts & businesses

[Directional]

I found a great article about the ins and outs of using offshore entities for wealth protection.

It is slanted towards US residents and their IRS, but much of the information is generally applicable to UK & Europe too.

check it out, its taken from a magazine called "Worth" which is a wealth management specific magazine published by the Robb Report - a US mag targetted at individuals worth more than $5m.

http://sovereignsociety.com/~web/misc/WORTH-0505.pdf

 

[Jack o'Clubs]

Interesting reading. HMRC recently passed rules requiring UK-based banks with offshore facilities to give them a list of offshore account holders. I don't think their jurisdiction applies to non-UK institutions, but not sure. HMRC are cross-referencing these offshore accounts with their self-assessment forms, apparently saying that of 1,800 SA forms so far checked, only 330 had declared offshore/foreign income. It's started 21 investigations...

See here: http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/01/21/cmtax21.xml

 

[rog1111]

hmm, good if alarming article. Just a matter of time before the UK catches up I guess

rog1111

I found a great article about the ins and outs of using offshore entities for wealth protection.

It is slanted towards US residents and their IRS, but much of the information is generally applicable to UK & Europe too.

check it out, its taken from a magazine called "Worth" which is a wealth management specific magazine published by the Robb Report - a US mag targetted at individuals worth more than $5m.

http://sovereignsociety.com/~web/misc/WORTH-0505.pdf