We are offering onshore trust services to non-dom clients who would like to consider the advantages of bringing their trusts onshore.
HMRC has said time and time again that it is committed to stamping out tax evasion and has deep pockets to do so. On receipt of sensitive financial information of assets held in trust offshore it will start an investigation. Any evidence of sham, or oversight in reporting will be treated as evasion, regardless whether tax evasion was intended or not. Such an investigation can go on for years, at great expense, with no right of appeal or compensation if no tax is payable.
If you are non dom and wish to be on HMRC’s good side, you should bring your trust back to Britain.