‘Nothing is certain except death and taxes’ (Benjamin Franklin, 1789). The first part is true (for now), but the second is certainly a variable element if appropriate planning is undertaken. Adding to pension schemes and gifting assets away is a start, but planning can venture into Family Investment Companies, Offshore Bonds and Trusts. Although planning at the more complex end of the scale can appear straightforward, in reality it can be extremely complex, touching on several areas of taxation. The family situation and the ages of children also need to be considered to ensure the solution presented is appropriate.
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‘Nothing is certain except death and taxes’ (Benjamin Franklin, 1789). The first part is true (for now), but the second is certainly a variable element if appropriate planning is undertaken. Adding to pension schemes and gifting assets away is a start, but planning can venture into Family Investment Companies, Offshore Bonds and Trusts. Although planning at the more complex end of the scale can appear straightforward, in reality it can be extremely complex, touching on several areas of taxation. The family situation and the ages of children also need to be considered to ensure the solution presented is appropriate.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
