Case Studies
Personal Taxation Advice
A firm of solicitors needed personal taxation advice for two of its clients, but did not have a private client department. The clients were from overseas. They were buying a property in the UK and required advice on:
- when they became UK tax resident;
- whether they will be taxed on the remittance basis;
- how to bring funds into the UK in a tax-efficient manner;
- how to hold the property; and
- capital gains and inheritance tax issues.
PWT Advice Limited was happy to help the law firm advise its clients on these issues.
Settlor Interested Settlements
A financial advisory company has received correspondence from HMRC raising assessments against a number of its clients. HMRC was arguing that offshore pensions set up by these clients were in fact 'settlor interested settlements' so that the clients should be taxed on the income and gains arising overseas. PWT Advice Limited was happy to be helping the financial advisers respond to HMRC's enquiries, to explain why offshore pensions do not fall foul of the settlement rules.
New QROPS Rules
An overseas trust company had set up a pension under the new Qualified Recognised Overseas Pension Scheme rules. PWT Advice Limited advised the trust company on the impact of the new QROPS rules and on transferring assets from UK pensions to the offshore QROPS in appropriate circumstances.
Articles
The View From Down Under
Jo Summers reviews Australian case law on beneficiaries' rights to view trust documents.
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