Offshore Company Formation News

Any offshore company formation in the Greek state of Porto Heli, is likely to be under threat from the Greek government, which is stepping up its pursuit of overseas investors.

According to a report from MSN News, recent months have seen the hamlet, based on the Argolis prefecture, increasingly targeted by the Greek tax authorities.

It comes after the construction boom of the 1990s,...

Monies stored in an offshore trust represent the most challenging structure for HM Revenue & Customs officers focusing on offshore tax evasion.

That is according to Greg Skyte, the head of HMRC's newly created Offshore Co-ordination Unit (OCU), which is operating from Birmingham.

HMRC set up...

Offshore bonds should be considered by anyone who fears they may lose control of access to their savings, according to a leading tax expert.

Mark Green, head of tax and estate planning with Legal & General, highlighted the benefits of offshore bonds following research by the financial services firm....

Qualifying Recognised Overseas Pension Schemes (QROPS), a popular legal offshore savings facility, could be set for major reform under a new government bill.

Under the latest draft version of the finance bill 2012 the conditions that allow expats to transfer their pensions abroad could be changed.

This in turn could see many who previously benefitted from an offshore fund like the QROPS...

A high number of individuals under 50 years of age have failed to take action against the potential costs of inheritance tax, according to Legal & General.

The research found that 69 per cent of people surveyed under 50 had taken no action beyond making a will to plan against this potentially substantial tax.

This figure comes despite the availability of offshore bonds and funds that...

HM Revenue & Customs (HMRC) has launched a new campaign aimed at gathering more accurate information from employers via face-to-face visits.

The move could prove problematic for any offshore businesses that will be required to work closely with] HMRC in providing up-to-the-minute accurate data for their tax records.

This new initiative, dubbed the Targeted Employer Support (TES) scheme, has been set up to focus on the tax data quality issues that have recently plagued...

An HM Revenue and Customs (HMRC) insider has claimed that chief Dave Hartnett was wrong in suggesting that Goldman Sachs' waived interest on a tax bill was less than £10 million.

Mr Hartnett, who ardently opposes offshore funds, was previously criticised after it was revealed that Goldman Sachs had had interest payments waived as part of a major tax bill.

Many hit out at]...

Entrepreneurs with property portfolios in the Greater London area should ensure finances are in order after HM Revenue & Customs launched a task force investigating property transactions in the region.

The new taskforce has been set up to investigate property transactions where they believe the parties involved have failed to comply with the Option to Tax regime.

Anyone caught up in the investigation could face further scrutiny too, with HMRC planning cross-tax reviews of...

There may be hope for any offshore business utilising low value consignment relief (LVCR) in Jersey after an official suggested they would be appealing an end to the rules.

Under current rules, any firm with an offshore company registration in the Channel Islands can utilise LCVR to sell consumer goods...

The tax charges levied for non-domiciled investment in UK businesses are set to be scrapped by chancellor George Osborne, according to the Telegraph.

These rules have previously seen wealthy non-doms seek offshore business investment opportunities in a bid to avoid the significant charges they would face for investing in UK based businesses.

Under current laws, non-doms face a bill of...