With the "Panama papers" there was one thing that all the media and politicians agreed on, and took time to make clear, and that was that there is nothing even remotely illegal about using offshore companies, trusts or foundations… so why do many people think they are somehow "shady"?
This misconception comes primarily from two areas:-
- Media brainwashing — the media love to have a villain as it sells newspapers, and playing on offshore companies as being for "the rich and famous" does the job very well… The reality is though that much of this is entirely two faced, for example the Guardian newspaper (the "anti tax haven crusader) has direct links to an offshore company based in the Cayman Islands (an EU black-listed tax haven).
- Supposed "secrecy" where the owners of these companies supposedly only use them to hide money whilst hiding their identities… the reality once again is very different. Every country has varying rules on what information is made public, for example, do you know how to find out who are the owners of a Russian business? or a Brazilian one?
Having an offshore business is neither illegal nor dodgy, it's just another way of structuring your business, such as choosing to have a limited company instead of being self employed, the only difference being that it needs to be planned and set up properly — just forming an offshore company and then telling the tax man that your taxi service is really based in Panama will probably result in a lot of awkward questions… It needs to be properly planned, and this is where Ashby Dale come in.
We can help you organise your business in a way that is highly tax efficient and not at risk from the whims of politicians — we design it, help you get it set it up… you can even have it run for you if required… you get all the benefits, minimal changes and none of the awkward questions, and what's more it can be very cost effective, even for businesses with profits as low as £80,000 per year
Simply put, we develop tax structures that enable you to choose how much tax you pay, even if that is no tax at all… and we do this whilst complying fully with UK and international law, as well as ensuring there is little or no disruption to the everyday running of your business.
Please note that our fees in this respect are in two types:
- Where we give you verbal advice on what you need to do to in order to set up a working structure we charge an hourly rate.
- Where we provide a detailed report on exactly what is required, which business/entity types to use etc then you pay a fixed fee, paid 50% on instruction and the balance when you get the report, NOT when you instruct us to "start the ball rolling"
Please note we only give advice that complies with UK & International law and we do not get involved with tax evasion, money laundering or contrived tax avoidance schemes.
Because these are genuine business structures (rather than tax loopholes) they are not on the Revenues "Tax Avoidance Schemes" hit list and they are exempt from the "Google tax" (Diverted profits tax) as well. So if you want to take control of your tax all you need to do is give us a call or drop us an email email@example.com
As for cost, designing such a structure is far cheaper than you would expect and can be from as little as £1,950 (excludes any company formation fees)