What is the contrast between a private offshore trust and a fund for savers? Are they all designed to avoid tax? We interpret the investment vehicles that are in the newsWho has offshore trusts?In the past,they were mostly wealthy British citizens seeking to hold their money outside the UK to avoid income tax and capital gains tax on their earnings, and to pass their wealth to heirs without inheritance tax. But successive HMRC clampdowns (such as on the notorious Jersey-based K2 trust once used by comedian Jimmy Carr) own made these schemes much less attractive.
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Source: theguardian.com