`You`ve probably read in the newspapers of various celebrities and successful business who manage to avoid or at least substantially reduce their UK taxes
Released on = May 24, 2007, 9:00 am
Press Release Author = Lee Handum
Industry = Financial
Press Release Summary = \"You\'ve probably read in the newspapers of various celebrities and successful business who manage to avoid or at least substantially reduce their UK taxes - whilst a significant proportion of the general public are paying close to 50% of their income in tax.
Press Release Body = \"You\'ve probably read in the newspapers of various celebrities and successful business who manage to avoid or at least substantially reduce their UK taxes - whilst a significant proportion of the general public are paying close to 50% of their income in tax. Well, there\'s nothing to prevent you using some of these techniques to slash your UK taxes as well, depending on your circumstances. Here\'s some of the techniques that the Rich & famous use: Make the most of your offshore status People like Mohammad al Fayed make tremendous use of their non UK domiciled status. If you\'re an overseas national and were born overseas (typically your father will also have been a non UK domiciliary at the date of your birth) you can avoid paying any tax on your overseas income and capital gains. The main condition to this is that you need to keep the income or proceeds outside of the UK. As you\'d expect though there are ways around this to enable some of the proceeds and income to be brought into the UK free of taxes Make the most of your spouses offshore status If you\'re lucky enough to have a husband or wife that is either non UK resident or non UK domiciled you can use their offshore status to your advantage. This is what Philip Green did (the billionaire owner of BHS). His wife is a resident of Monaco and he ensured that she extracted dividends from his UK companies free of UK (and overseas) tax. This saved him paying UK tax of around £200Million that he would have otherwise had to pay if he\'d extracted the dividends. Using a tax efficient holding company. Famous bands such as U2 and the Rolling stones make use of some of the best Web Site = http://www.wealthprotectionreport.co.uk
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