Objectives
The team at Lifetime Financial Therapy Ltd, in conjunction with our strategic partners, aim to deliver the highest possible standard of service to both personal and corporate clients, in assisting them to meet their tax planning objectives.
The primary objective of our clients is to mitigate tax, defined by the House of Lords as
“The hallmark of tax mitigation is that the taxpayer takes advantage of a fiscally attractive option afforded to him by the tax legislation”.
Although the tax mitigation industry has been severely constricted by changes in case law, legislation and the attitude of HMRC in recent years significant opportunities still remain for efficient tax structuring for the affluent client who wishes to maximise the planning opportunities that are available for their benefit and that of their families and businesses.
UK legislation provides a series of statutory reliefs which allow assets to pass, free of tax, from UK individuals or corporations into offshore trust arrangements. A simple, low-cost route has been created to take full advantages of the reliefs available.
Why would you want to use an offshore trust?
- Protect your wealth from punitive rates of tax?
- Protect your wealth for your family and future generations?
- Shield yourself against harassment or vengeful lawsuits?
- Protect your property against government confiscation ?
- Enhance your financial privacy?
- Achieve financial immortality
- Limit personal liability ?
- Minimise economic and political risk?
- Provide anonymous, simple means of transferring ownership of almost any asset?
Punitive taxes are among the major obstacles in accumulating wealth today. In high-tax countries such as the U.K. the government will try to take more than 50% of your income while you are alive and working (consider higher rate tax plus national insurance).
After you’ve gone, government will try to take at least a further 40% of what you have left through inheritance taxes. The mathematics are simple: for every £100 you earn, that government takes £75 of direct taxation, before considering the myriad of other local taxes, VAT, duty on fuel and alcohol, stamp duty and levies paid by businesses to support government regulators.
As well as mitigating tax liabilities, adopting appropriate tax planning solutions can create the ideal opportunity to:
- Diversify your assets, in order that your personal wealth is less tied to the fortunes of the property market or any other narrow investment sector
- Increase the prospect for growing your wealth
- Ensure that a portion of your assets are held in cash which can be used to meet any future fees associated with the management of your investment
- Meet any current financial liabilities