Do UK Individuals Who Transfer Assets To Jamaica Take A Tax Risk?
| Published date | 06 March 2024 |
| Law Firm | ParrisWhittaker |
| Author | Parris Whittaker |
Are individual shareholders 'transferors' for the purposes of the UK's transfer of assets abroad regime? An important ruling is welcome news for many individuals and company owners considering transferring assets to The Bahamas to minimise tax charges. The experienced corporate lawyers at award winning firm ParrisWhittaker supports directors and shareholders seeking to restructure and save money.
The Bahamas is, given its favourable tax environment, a popular jurisdiction for wealthy individuals and companies in other countries wanting to deposit money and other assets. However, the UK's 'transfer of assets abroad' regime is, like many other jurisdictions, designed to catch offshore tax avoidance...
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