Non-resident trusts and beneficiaries

Offshore Trusts have become less tax efficient than they have once been for UK-domiciled individuals due to changes in legislation.  Additional legislation introduced from 2017 onwards has also made significant changes to the UK taxation of non-UK domiciles, including the taxation of trusts. 

However, for non-UK domiciled individuals, there is still scope for appropriate trust structures, particularly created before moving to the UK, if used efficiently. Whilst tax efficiency is unlikely to be a significant factor for UK-domiciled clients in setting up trusts, they do still have a vital part to play in succession planning and asset protection.  We partner with professional trustees for the implementation of the trusts; we also advise on all aspects of taxation for both UK and overseas trusts.

Our team are experienced in assisting clients with tax compliance and reporting requirements for UK resident trusts and non-UK resident trusts with UK source income or gains.