IHT planning for UK domiciled persons and non-UK resident trusts
Basically getting your money back
Try and make sure your income or profits is taxed no more than once (click here to see an example of a typical offshore trust)
Cleaning up and making onshore and offshore structures more tax efficient and robust in the long term.
Prevention is better than cure, so make sure your documents reflect what you are actually doing (it helps).
UK tax law gives so many benefits to help people and businesses get from A to B. Use them.
If HMRC argue that black is white in a case, arrange your affairs to reduce your tax by being white.
HMRC might not like it, but their emotional response is irrelevant.
If they try to say your white is a dark grey, then point them to their own public position.
For example, was the money transfer a loan, a gift, a price?
We review documents with the courtroom in mind. How will this sound or look? Is there a better, less ambiguous, way of expressing something without prejudicing your commercial position?
Law firms will protect your commercial position, but occasionally will use incorrect terms which serve their business purpose but undermine the tax purpose eg fixed assets means something entirely different to a lawyer than an accountant.
As a lawyer I appreciate that almost everything is a grey area
If HMRC challenge you, then there is always an argument which can be raised, the key questions are
What is the law? and
What is the evidence?
HMRC and the courts are obliged to apply the balance of probabilities.
Disputes against HMRC are unique in many ways. Our approach focuses on getting the cash.
Who cares if “technically” HMRC do not concede if they have refunded all of your money plus interest?
What we don’t do
We do not provide ourselves the following services:-
Tax return or tax compliance services (although We are able to review your returns before submission and indeed would recommend that we do so if you have relied on our advice).
Sale of financial products.
Any form of regulated financial advice.
Drafting of documents of any kind (although We will review drafts prepared by qualified lawyers and suggest wording where appropriate).
Litigation services or conducting negotiations with the fraud, civil fraud, or debt collection departments of HMRC (although We can provide expert evidence and technical support).
Accounting or book-keeping services.
If you are an accountancy or legal practice, and provide these services, we will not be looking to take your work.
Indeed, we are much more likely to generate you more chargeable work and save your client money.
And if you need someone in these areas, then our address book is always open to our clients.