In today’s fast-moving society, the ease of travel and communications means that there is often an international element to our clients’ financial affairs. Questions of where an individual is legally domiciled or resident can be surprisingly complex to resolve.
Hill Dickinson has developed a specialist practice advising clients on the opportunities and pitfalls associated with non-domiciled status in the UK. We help families and business owners to structure their assets in a way that will preserve their wealth now and for the benefit of future generations.
We advise on asset holding structures, using domestic and international trusts, foundations and companies, for the purposes of asset protection and tax efficiency.
Our advice includes:
- The creation, restructuring and termination of offshore or onshore trusts and companies
- Using offshore or onshore trusts and other vehicles to preserve family wealth and legitimately minimise UK taxes and other claims, such as forced heirship
- Pre-arrival planning for non-UK persons moving to the UK
- Departure planning for UK residents, whether foreign or UK domiciled, leaving the UK
- Co-ordinating multi-jurisdictional tax planning for international families
- Will and estate planning for families with cross-border estates
We have advised foreign domiciliaries on the fundamental changes made to the remittance basis of taxation by the Finance Act 2008. The team tracked the development of the proposals of the Finance Bill and has advised clients on the detail of the Finance Act.
The team works closely with the firm’s London office, including the yachts, shipping and commercial departments to advise clients with significant multi-million pound estates.