George Osborne said the transparency rules on beneficial ownership showed that Britain and other governments were working to shine a spotlight on “those hiding spaces, those dark corners of the global financial system”. Osborne said he hoped that the regulations, which will come into effect in January 2017, would be followed up by other countries.
It has also been reported that finance ministers from other European countries had pushed Britain to extend the new rules to all trusts, rather than just those that “generate tax consequences “and will continue to do so.
It is clear from the above that avenues that allow non-disclosure of assets to a tax authority – whether it be for the super-rich, corporations or individuals – are slowly being closed or their existence and beneficial owners are being disclosed to tax authorities.
If you haven’t done so already now is the time to get your financial affairs in order, you may no longer be able to evade or avoid tax but you can ensure your investments are in tax-efficient products, approved by the tax authorities with full transparency. There are many legitimate ways you can mitigate your tax liabilities, if you want to know what your options are, I am here to help you find the right solution to make your money work for you, in the most tax efficient way possible.
You can find out more about our wealth management services here and contact me directly.
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
ery worker in the UK who is a member of a company pension scheme will have to help fill a black hole estimated at £571million in the BHS pension scheme. This is because the Pension Protection Fund, which steps in when businesses collapse, gets its money through a levy imposed on all company schemes. 
The start of a new decade, and with it the beginning of a new era for Britain and its citizens in the form of Brexit, represents the perfect time to review your wealth management plans. From taking a look at the suitability of your asset allocation and your pension savings to reviewing your tax and estate planning, now is an especially pertinent time to develop a clear path into the future.