Fox Smith

🇬🇧 UK 🇦🇪 DUBAI

Offshore Trusts

Our team provides forward-thinking, strategic advice to help trustees adapt and plan effectively.

Comprehensive Tax Planning for Offshore Structures

At Fox Smith, we act as trusted tax advisers to a number of major offshore trust companies, particularly those operating in the Channel Islands. Our specialist team provides comprehensive tax advisory services to Settlors, Beneficiaries, and Trustees, ensuring full compliance, strategic planning, and confidence in managing complex offshore trust structures. With increasing scrutiny from HMRC and continued legislative change following the Autumn 2024 Budget, expert guidance is more important than ever.

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Advising on the Creation of an Offshore Trust

For individuals considering settling an offshore trust, we offer clear and detailed guidance on the legal, tax, and practical implications. This includes assessing UK tax residency, understanding long-term objectives, and ensuring the trust is structured in a tax-efficient and compliant manner from the outset.

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Strategic Offshore Trust Management

Expert advice on structuring, reporting, and maintaining offshore trusts, tailored to meet the scrutiny of HMRC and the latest budget reforms.

Transfer of Assets Abroad Legislation

Our team provides in-depth analysis of the Transfer of Assets Abroad (TOAA) rules to ensure that all parties understand potential UK tax consequences. We help trustees and advisers navigate this complex area, reducing the risk of inadvertent UK tax charges for Settlors or Beneficiaries.

Income and Stockpiled Gains Management

We support trustees with the accurate calculation, maintenance, and reporting of relevant income, stockpiled gains, and trust pools. This ensures transparency, correct beneficiary matching, and compliance with HMRC expectations.

Relevant Property Regime & Non-Resident Capital Gains Tax

Our service includes the calculation and reporting of Relevant Property Charges, such as ten-year and exit charges, along with Non-Resident Capital Gains Tax (NRCGT) obligations for offshore trusts holding UK assets.

Rectifying Historical Issues

Offshore trusts can be intricate, and historical errors often arise—sometimes only when trustees change or structures are reviewed. Fox Smith is experienced in identifying, regulating, and rectifying these issues, working collaboratively with offshore administrators and HMRC where necessary.

Autumn 2024 Budget Changes

The Autumn 2024 Budget introduced reforms impacting offshore trusts, including the treatment of excluded property, non-dom changes, and reporting obligations. Our team provides forward-thinking, strategic advice to help trustees adapt and plan effectively.

Partnering with Fox Smith ensures robust, compliant, and future-proof management of your offshore trust structures.

Ready to Elevate Your Financial Strategy?

Let’s discuss how our bespoke services can address your unique financial challenges and help you achieve your goals.

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Privacy Policy

1. Introduction

Fox Smith Associates Ltd (“we,” “our,” or “us”) is committed to protecting and respecting your privacy. This policy explains how we collect, use, and protect your personal information.

2. Information We Collect

We collect information that you provide through our contact form, including:

  • Name: Fox Smith Associates
  • Email address: info@foxsmith.co.uk
  • Phone number: 01628 276 130

3. How We Use Your Information

We use your information solely to:

  • Respond to your inquiries
  • Provide requested services
  • Maintain records of our communications

4. Data Storage and Security

  • Your data is stored securely in our database
  • We implement appropriate technical and organizational measures to protect your data
  • We retain your information only for as long as necessary to fulfill the purposes we collected it for

5. International Data Transfers

As we serve clients internationally:

  • Your data may be transferred to and stored in countries outside the UK
  • We ensure appropriate safeguards are in place for such transfers
  • We comply with UK and EU data protection laws

6. Your Rights

You have the right to:

  • Access your personal data
  • Request correction of your personal data
  • Request erasure of your personal data
  • Object to processing of your personal data
  • Request restriction of processing your personal data
  • Request transfer of your personal data
  • Withdraw consent

7. Future Updates

This policy may be updated to reflect:

  • New analytics tools
  • Marketing features
  • Additional services

We will notify you of any material changes.

8. Contact Information

Fox Smith Associates Ltd
43 High Street Marlow SL7 1BA
asmith@foxsmith.uk
01628 276 130

Terms and Conditions

1. Overview

These terms govern your use of www.foxsmith.uk and our services.

2. Services

  • We provide accounting services to UK and international clients
  • All services are subject to separate engagement terms

3. Website Use

  • The website is provided “as is”
  • We reserve the right to modify or withdraw the website without notice

4. Intellectual Property

All content on this website belongs to Fox Smith Associates Ltd except the logos who belong to their respective bodies.

5. Limitation of Liability

  • We are not liable for any indirect losses
  • Our total liability shall not exceed £100

6. Governing Law

These terms are governed by English law

Cookie Policy

To make this site work properly, we sometimes place small data files called cookies on your device. Most big websites do this too.

What are cookies?

A cookie is a small text file that a website saves on your computer or mobile device when you visit the site. It enables the website to remember your actions and preferences (such as login, language, font size and other display preferences) over a period of time, so you don’t have to keep re-entering them whenever you come back to the site or browse from one page to another.

How do we use cookies?

This website uses cookies from the following 3rd party tools:

  • Manage WP – Website back ups
  • Google Analytics – User traffic
  • Email marketing tools – Capturing and sending emails and tracking site visits for marketing purposes
  • 3rd party tools for security
  • 3rd party plugins to ensure
  • website functions correctly
  • 3rd party marketing tools

Example:

A number of our pages use cookies to remember:

  • your display preferences, such as contrast colour settings or font size
  • if you have already replied to a survey pop-up that asks you if the content was helpful or not (so you won’t be asked again)
  • if you have agreed (or not) to our use of cookies on this site
  • Also, some videos embedded in our pages use a cookie to anonymously gather statistics on how you got there and what videos you visited.

Enabling these cookies is not strictly necessary for the website to work but it will provide you with a better browsing experience. You can delete or block these cookies, but if you do that some features of this site may not work as intended.

The cookie-related information is not used to identify you personally and the pattern data is fully under our control. These cookies are not used for any purpose other than those described here.

How to control cookies

You can control and/or delete cookies as you wish – for details, see aboutcookies.org. You can delete all cookies that are already on your computer and you can set most browsers to prevent them from being placed. If you do this, however, you may have to manually adjust some preferences every time you visit a site and some services and functionalities may not work.