Once the residence and domicile status of each of the beneficiaries/settlor or beneficial owners of an offshore structure is known, it is possible to determine how those individuals will be taxed on income and capital gains arising to the offshore structure.  However, the law is complex with this area of taxation being fraught with pitfalls and it is relatively easy to make mistakes or overlook liabilities.

At HOTCHKISS we have experience in providing such advice to trustees, beneficiaries and settlors.