Offshore and international tax planning is an extremely complex area that requires specialist advice. Many business owners believe that it’s not possible to structure offshore or it would be too expensive to do so, however in the long term the savings on an annual basis can be many times the initial setup costs.
Offshore structures can protect against unfair levels of taxation, provide creditor protection and give owners a level of anonymity for their assets.
Where a business has:
- International transactions with offshore customers/suppliers
- International owners/investors
- Online sales or an electronic product
It can be extremely attractive to set up the ownership of a business in an overseas jurisdiction, offering the business and its owners numerous advantages.
UK based business owners can also look to take advantage of international pension legislation which allows them to hold the assets offshore, outside of the reach of HMRC in terms of inheritance tax and capital gains tax.