TITLE

Shore things?

AUTHOR(S)
Penney, Andrew
PUB. DATE
September 2005
SOURCE
Lawyer;9/12/2005, Vol. 19 Issue 35, p25
SOURCE TYPE
Trade Publication
DOC. TYPE
Editorial
ABSTRACT
The article focuses on the future of the offshore trusts in Great Britain. Reports of the death of the international trust industry are perhaps exaggerated. Trusts have been used to reduce, avoid or defer tax liabilities. In Great Britain context, the Finance Act 1980 legislation provided a green light to British-resident and Great Britain-domiciled individuals to use foreign trusts to defer capital gains tax on investment portfolios and property. The original purpose of trusts, that of asset protection, will reassert itself over the purely tax-driven planning of recent decades.
ACCESSION #
18345895

 

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