Released on: February 24, 2008, 9:51 pm

Press Release Author: Hassans International Law Firm

Industry: Law

Press Release Summary:
(Gibraltar - February 22, 2008) - Non United Kingdom (UK) residents, UK resident -
non domiciles, non - resident close companies, non - resident trusts, and UK
resident - non domicile beneficiaries in Gibraltar need not worry about the upcoming
tax changes set to take effect on April 2008. This, as the recognized top law firm
in Gibraltar, Hassans International Law Firm, has asserted that they are the firm to
approach regarding these impending changes.


Press Release Body: Recognized by the Chamber and Legal Partners 500 as the Best
Gibraltar Law Firm, Hassans (www.gibraltarlaw.com) is the only law firm in the UK
that also advises the Gibraltar government itself, making the firm the top choice
when seeking legal advice.
The impending tax changes stemmed last January 18, 2008, when the draft legislation
was released for non domicile - UK Residents that embedded a lot of implications to
offshore trusts and companies. Experts believe that these implications may turn out
to be confusing to all stakeholders as the same retrospectively divert from the
previous tax laws that served to be more beneficial to a vast majority. Hence,
Hassans has advised the public that it is highly recommended to seek legal advice
before these changes take effect on April 2008.
The law firm has warned that the changes cover five main aspects in Gibraltar and UK
business forms and residential status including the facts that for non-UK Residents,
the days of arrival and departure are going to be considered in the number of days
that will be required to establish UK residency, that for UK Resident - Non
domiciles are provided two options in paying their remittances - one option is by
paying an additional £30,000 tax charge for having been a resident in the UK for the
past 7 - 10 years while the other option is to be charged according to worldwide
earnings which, in turn, can lead to a bigger amount of liabilities as well and that
for non-resident close companies that have less than 5 shareholders, they are also
set to be affected in a sense that if their assets are not rebased to its value
prior to April 2008, there is a bigger chance that liabilities will be greater.
There are also several new reporting requirements that need to be submitted for
offshore trusts. These requirements have time considerations for liabilities to be
managed properly. Utmost guidance and keen checklists are advised for ensuring the
maximum accumulation of what people reap.

These, as well as other tax changes, need to be understood well. Experts believe
that there is no better way to have this done than to approach a distinguished and
internationally - acclaimed law firm that has broad experiences with government
taxes.
To answer this need, officers of Hassans International Law Firm pledged that their
agency will serve as the guiding light for individuals as well as companies and will
only provide top service.
Hassans International Law Firm urged current and would-be clients to take control of
their assets the sure and effective way and free themselves from the hassle of
dealing with adjustments that need not be worried about in the first place.
For more information on how Hassans International Law Firm can be of service to you,
get in touch with them by visiting their website at www.gibraltarlaw.com. You may
also call (350) 200 79000 or send e-mail to info@hassan.gi for more information.

About Hassans International Law Firm
Hassan International Law Firm, located in Gibraltar, is one of the world's
pre-eminent offshore law firms. Hassan's global reach, professionalism, innovation
and delivery make their reputation precede them. An impressive, world - renowned and
high caliber group of professionals comprises Hassan's International law firm's
team. The firm, involved in multi-jurisdiction transactions, counts multiple local
and international clients - both private and corporate. A founding member of
TerraLex, the global network of independent law firms, Hassans' particular expertise
lies on international tax advice. For more information on Hassans International Law
Firm, please visit www.gibraltarlaw.com or call (350) 20079000 or send email to
info@hassan.gi. You may also write them at 57/63 Line Wall Road PO Box 199 Gibraltar
and add their Facebook page located at
www.facebook.com/pages/Gibraltar/Hassans-International-Law-Firm/10009796007


Web Site: http://www.gibraltarlaw.com

Contact Details: Tim.Streatfeild-James@Hassans.gi
Marketing Director
Tel + 350 200 79000