Many private sector businesses are family-owned and managed by first generation founders. As these businesses mature and grow, there is an increasing need to protect not only the core business assets, but the family’s personal assets as well. “Succession planning and wealth distribution, in what can be a highly complex family structure, is incredibly important
Establishing a company offshore has never been more popular, as many people look for ways to protect their assets in times of uncertainty. “There are numerous reasons to set up and use an offshore company, they can often provide you with access to better infrastructure and legal frameworks. However, one of the primary reasons we
There’s a burst of excitement that every entrepreneur knows. That moment when you are struck with an idea for a new business. It’s a moment of both fear and excitement. Could it work? Has it been done? How big is the market? Is there a sustainable competitive advantage? Once you’ve done your research and reality
The economic substance legislation came into effect in January 2019 in the Crown Dependencies and overseas territories. It is designed to protect the reputation of offshore jurisdictions. It does this by ensuring that income streams from certain activities are based on actual local activity in order to substantiate the use of low tax jurisdictions. The
We’ll always remember 2020 as being the year that COVID-19 swept the world. Arriving at overwhelming speed and on an enormous scale, with organisations facing a paralysing volume of unfamiliar decisions that could have incredible, long-lasting effects. The rapid deployment of measures to prevent the spread of COVID-19 have had a clear impact on how
The UK has long been considered one of the leading business locations in the world, so if you’re thinking about forming a company in the UK, you will be in good company, and will be well placed to take advantage of the opportunities an international business centre brings. James Turner, Director at company formation specialists,
Tax is a subject close to the hearts of most individuals, and business owners. 3 terms frequently used in conversations around tax savings are tax avoidance, tax evasion and tax efficiency. James Turner, Director at York-based Turner Little, tells us that these are themes that run through most conversations with clients, old and new, and
This week, the EU has added four countries and jurisdictions to its blacklist of tax havens, including British overseas territory the Cayman Islands. “The EU set up the system in 2017, to put pressure on countries to crack down on tax havens and unfair competition, sanctioning those it considered unfair in offering tax avoidance schemes.
Superyachts are the epitome of luxury living, with their top-deck swimming pools, state-of-the-art kitchens and on-board jet skis. But buying a yacht or superyacht is both a personal and private investment, and one of significant financial importance. “A superyacht is a floating liability, and owners need to understand the legalities surrounding purchase and ownership, in
Starting a business brings with it its own set of challenges, as well as opportunities. But when setting up a business, the where is often as important as the how, and knowing what to expect in terms of company formation regulations and requirements is key, so you can start your entrepreneurial journey on the right