Taxation of offshore trusts: overview
An overview of the taxation of offshore (non-UK resident) trusts set up by UK individuals. This practice note outlines how capital gains tax and income tax apply to offshore trusts, including special rules for trusts for vulnerable beneficiaries. The note links to information about UK trusts and inheritance tax, and deals briefly with stamp taxes and VAT. It is aimed at those who are unfamiliar with the taxation of offshore trusts, or those who require a quick reminder.
We are reviewing this practice note in light of the 2014 Autumn Statement.