Are your savings evading or avoiding tax?

Published on: 04/15/16 04:35:pm

Offshore banking has come under the spotlight recently and the media is awash with talk of tax avoidance and evasion after around 11.5 million documents were leaked from Mossack Fonseca, a Panama-based law firm which specialises in setting up offshore companies in tax havens.

The terms "tax evasion" and "tax avoidance" although sounding similar have very different meanings.

Put bluntly to evade paying tax is illegal, while avoiding tax is perfectly legal. An example of tax avoidance is placing your savings in an ISA to benefit from tax free savings.

Unsure if your savings plan is evading or avoiding tax? Don't ignore the situation. Take action now!

Here at GWM we help thousands of UK expatriates to ensure they do not pay unnecessary taxes.

As most expats lead a portable lifestyle, using offshore accounts can often be the most effective way to manage their wealth.

We have received a number of calls from concerned clients asking if their policies evade rather than avoid tax to which our answer has been unequivocally NO!

We use UK Crown Dependencies or territories with similar protection and the same transparent regulations. This allows us to offer tax efficient investments and savings with high levels of investor protection which gives peace of mind to our clients.

If you have any concerns over the suitability or structure of your existing savings solutions download our free Offshore Savings e-guide now

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