Isle of Man Trusts Update

Outline

A review of the IOM and UK taxation of IOM resident trusts. This session will review the tax position of IOM resident trusts. We will consider the tax position of settlors, beneficiaries and the trustees themselves. There will be a brief summary of the tax position of trusts in the Isle of Man.

We will then move on to the complex provisions the UK has for taxing offshore trusts, this will include:

- the new capital payments regime following FA 2008
- the taxation of settlors and beneficiaries
- non-domiciled settlors
- Inheritance Tax
- trustee tax compliance

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