OVERSEAS TAX PLANNING
Relocating overseas to reduce taxes can be an attractive prospect, however care must be taken.
Overseas tax planning is a complex process, which requires careful consideration of the various options available, such as an overseas trust, company, or personal non-residency. Each of these options comes with a unique set of complexities, and it is essential to seek expert advice to ensure that your planning is effective.
When it comes to companies, there are additional considerations to keep in mind to ensure that the company is an overseas resident, and the place of central management and control is located overseas. Failing to meet this criteria could lead to HMRC charging the company with corporation tax on its profits.
There are many jurisdictions to consider when it comes to offshore tax planning, each offering its unique advantages. Among the popular offshore tax havens are Dubai, UAE and Monaco.
It is important to note that there is no one-size-fits-all solution to overseas and offshore tax planning. It’s imperative to work with an expert advisor who understand the landscape and can provide tailored advice to suit your individual circumstances, at JSM Tax we do just that.
JSM Tax have extensive experience working with influencers, entrepreneurs, and high-net-worth individuals to structure their income and assets tax-effectively, reducing taxes and increasing privacy.
We provide a full overseas tax planning and strategy service taking into consideration the UK and overseas tax issues giving you a step by step plan and complete peace of mind.