Our site uses cookies

I agree Our site saves small pieces of text information, called “cookies” on your device. Find out more in our cookie policy. You can disable the usage of cookies by changing the settings of your browser. By continuing to browse the site you are agreeing to our use of cookies.

Offshore trusts and onwards gifts

The onward gift rules can have the effect of taxing a distribution from an offshore trust if that distribution has been made to a non-UK resident person (who would not be taxable) and that non-UK recipient passes on the distribution to a UK resident (who would be taxable had he received it directly from the trust).

The legislation has been drafted in such a way that it can be incredibly complicated to unpick but once deciphered can deliver some interesting results, which Partner Fiona Poole discusses in an article recently published in The Tax Journal.

Please click on the attachment below to read the article in full.

File Attachment


Offshore trusts and onwards gifts - 84.5 KB

Related Expertise

Private Wealth

Related in brief posts

What's new in the EU: Asset ownership after Brexit.

As the UK settles into its new role as a ‘third country’ in the wake of 31 December 2020, Britons need to explore and understand the new rules relating to their much-loved French gîte, Swiss chalet or Mediterranean yacht.

The Court of Protection and the vaccine: to administer or not to administer

The Court of Protection and the vaccine: to administer or not to administer - Nicola Boulter considers two recent Court of Protection decisions.

No-one expects a 1975 Act claim......

Two decisions under the Inheritance (Provision for Family and Dependants) Act (enabling a spouse/civil partner and others, to bring a claim if a Will fails to make reasonable financial provision for that person) have produced very different results.