Services

Services

Sectors

Home

12th October 2016

Thrings acts on cross-border re-organisation

Leading commercial law firm Thrings has acted for an Ultra High Net Worth (UHNW) family on its on-shoring of a multi-million pound prime London real estate portfolio held in a British Virgin Islands (BVI) structure as part of its tax planning.

London-based corporate partner, Jonathan Morris, and solicitors Jack Delaney and Nikul Kad, worked closely with tax advisors to implement a fiscally efficient reorganisation.

Thrings partner Bill Dunmore provided advice on property matters, having previously acted for the client on the leasing of the portfolio.

Jonathan Morris said: “With UK residential property held by non-doms in offshore trust and company structures no longer being excluded property for inheritance tax purposes from 6 April 2017, we anticipate a number of similar transactions in the run up to this deadline.

“Thrings has worked on a number of complex cross-border re-organisations for UK and overseas clients in recent years, and we expect this to continue as international governmental collaboration to share information increases.”

Share This

Related News

News

PSC register – an analysis of the data

In June 2016, the UK government’s plan to implement the world’s first open data register of the real ownership of companies came into force.  The People with Significant Control (PSC) register identifies the ultimate "beneficial" owners of companies.  

Read More

News

Interpreting written terms – a Sureterm

In the recent case of Wood v Capita Insurance Services Ltd, the Supreme Court clarified the methods of contractual interpretation that should be used when examining a written provision in a contract.  The Supreme Court’s decision provided a clear reminder to buyers entering into share and asset purchase agreements...

Read More

Search Latest