Offshore Company Formation News

The appeal of setting up an offshore business over a UK-based company has been highlighted in the latest Paying Taxes survey by PwC.

Using information on tax costs and payments from a case study flowerpot firm, the report placed the UK in 18th position for its current tax regime.

This position marks a steep decline for the UK and provides further evidence of why a number of companies are...

A tax expert has warned individuals holding offshore funds in Switzerland to ensure all accounts are in order, with warning letters from the HMRC set to be sent out this week.

The news comes as the HMRC continues its focus on offshore accounts through its special Offshore Co-Ordination Unit.

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HM Revenue & Customs plans to end Low Value Consignment Relief (LCVR) for offshore business in the Channel Islands could be against European Union (EU) rules, according to one tax expert.

Speaking in an interview with the BBC, Deloitte tax partner Jo Huxtable said that the changes were discriminatory and could be in breach of EU laws.

Ms Huxtable believes that the UK government are...

HM Revenue & Customs has come under criticism for branding anyone with overseas property as tax cheats, according to one expert.

The concern comes as an increasing number of wealthy individuals with overseas property or legal offshore accounts face further scrutiny from the HMRC.

Stephen Barratt, who is a private client director at James Cowper, made the comments in an interview with...

Inheritance tax (IHT) and capital gains tax (CGT) could be set for a major overhaul under plans for a new project from the Office of Tax Simplification (OTS).

The news is likely to provide a welcome boost to offshore account holders and those utilising legal offshore funds to avoid high IHT and CGT...

Offshore business in the retail sector is set to be affected after the Treasury announced that a VAT loophole would close next year.

Under the current scheme, any offshore company based in the Channel Islands could take advantage of Low Value Consignment Relief (LCVR) to sell goods without a VAT charge....

The Panamanian government has rejected French president Nicholas Sarkozy's suggestions that the country is a tax haven instead point of pointing to its legal offshore fund options.

Mr Sarkozy's comments came at the G20 summit in Cannes, during which he named a list of 11 countries he believed failed to meet financial transparency standards.

Panama was named in the list, with the French leader warning that they would be "shunned by the international community"...

Offshore bonds continued to grow in mainstream popularity after Clydesdale Bank International admitted that an increasing amount of customers signed up for them.

The increase in these offshore funds came as the company, which is owned by the National Australia Bank Group, reported a four per cent rise in...

Offshore account opponents HM Revenue and Customs have come under fire today after it was revealed that banking giant Goldman Sachs was let off a ten million pound tax bill.

The news came as part of a hearing from the Public Administration Committee held in Parliament yesterday that saw parliamentary members react furiously to the news.

In the meeting, it was revealed that HMRC tax chief...

Offshore funds critic and Labour MP Chuka Umunna has been left embarrassed after The Daily Mail revealed the Shadow Business Secretary purchased his family home using money from a tax haven.

Mr Umunna has long been critical of offshore account holders in his role as a Labour frontbencher labelling those...