As the new tax changes, announced in the October budget, come into force today (April 1st), it is important that business owners and high-net-worth individuals understand what has changed. Here is some insight into those changes, and how best to move forward into the 2025/26 financial year. For businesses The increasing employer national insurance
In an increasingly globalised world, protecting and managing wealth across borders has become a priority for high-net-worth individuals and families. Offshore trusts offer an effective means of preserving wealth, ensuring privacy, and facilitating smooth succession planning. Understanding what an offshore trust is, who the key parties are, and the implications involved is essential before establishing
High net worth individuals (HNWI) and business owners are continually seeking strategies to optimise and protect their financial portfolios in the most tax efficient way possible. One such strategy is offshore banking, which can offer a range of benefits that surpass those provided by traditional onshore high street banks. But what are those benefits?
Incorporating a company in Andorra as a UK tax resident involves understanding the various types of corporate structures available, their respective regulatory and taxation frameworks, and the implications for UK tax obligations. This article provides an overview of these aspects to guide UK residents considering such an endeavour. Andorra offers several corporate structures suitable for business
The United Arab Emirates (UAE) has established itself as a global business hub, attracting foreign investors through its 17 Free Zones, each tailored to specific industries. These Free Zones offer attractive incentives such as full foreign ownership, tax advantages, and simplified business setup processes. However, businesses that are controlled from outside the UAE, particularly from
For individuals or businesses with offshore companies, it is vital to complete a timely renewal to maintain compliance, safeguard assets and sustain operational efficiency. Offshore companies, much like the onshore counterparts, must adhere to jurisdictional specifications and requirements. This often requires annual reviews and renewals. The process is more than just administrative, it plays a
As the aftermath of October’s budget announcement settles down, businesses, high-net-worth-individuals and non-domicile residents are looking to review their current strategies and make changes where necessary. This is especially important as we move towards the end of 2024, and many begin planning for the end of the financial year in March. To make the most
Following October’s unforgettable (for all the wrong reasons) autumn budget announcement, it is quite easy to see why a projected 9,500 millionaires are due to leave the UK this year alone, with around 500,000 set to depart by 2028(1). Even prior to Rachael Reeves announcing the abolition of the non-domiciled tax regime, which is due
Whilst maintaining the rate of national insurance (NI) contributions was a key element of the Labour parties’ manifesto, it seems they are not scared to break this promise. Following her keynote speech during the international investment summit earlier in the month, Chancellor of the Exchequer Rachel Reeves has given some very strong hints that she
It is looking likely that the temporary increase to stamp duty thresholds is ending in 2025 and moving back to the standard levels. Not only will this have a significant impact on the property market, both for first time buyers and those looking to upsize their current home, but it will negatively impact the property
