Offshore Companies and Trusts
In the UK as in nearly all other jurisdictions there are issues around tax avoidance and tax evasion. The first is legitimate the latter illegal.
Tax avoidance is where you arrange your affairs in such a way so as to minimise your tax liability.
Offshore companies and trusts can be used to evade tax but this is illegal.
Legitimate offshore structures can be legal and save large amounts of tax, if properly constructed and will depend on individual circumstances. Often the fees involved do not make it worthwhile.
Since 9/11 nearly all tax haves have agreed to disclose information on offshore companies and trusts to local tax offices.
South Africa is not considered a tax haven and trusts are well regulated through legislation and can be attractive to persons wishing to legally minimise their tax. It also can be a useful vehicle for UK and other EU residents to control their South African investments. For further advise please contact K&S Accounting at
Telephone: Int. +27-21-448200
or E-mail: Info@ksacc.co.za