Optimising Tax Strategies for Non-Doms
The Benefits of Using an Isle of Man Trust with Manavia
The imminent changes in the UK’s non-dom regime as announced in the Spring Budget 2024 underscore the necessity for effective tax planning strategies. The Isle of Man trust stands out as a particularly advantageous option for several reasons:
Protection of Assets
Establishing an Isle of Man trust allows non-doms to protect their global assets from the impending changes to UK taxation. These trusts offer a secure structure to shield income and gains from UK taxes.
Tax Efficiency
The upcoming changes on April 6, 2025, provide a critical window for non-doms to establish or restructure trusts for optimal tax benefits. An Isle of Man trust facilitates the efficient management and distribution of assets while maintaining tax advantages.
Estate Planning
Utilising an Isle of Man trust can enhance estate planning, offering strategies to minimise potential inheritance tax liabilities under the new tax regime.
Transition Provisions
As current non-doms transition to the new system, an Isle of Man trust can offer continuity and stability in the management of their international financial affairs.
Manavia’s Role
Manavia, as part of MannBenham, is a licensed trust and corporate service provider that can be instrumental in setting up and managing Isle of Man trusts. Our services include:
Trust Establishment
We assist in the formation of trusts tailored to meet specific financial and personal circumstances.
Professional Trusteeship
Manavia provides experienced trustees who ensure that trusts operate in compliance with both Isle of Man and international regulations, optimising the financial benefits while adhering to legal standards.
For non-doms looking to navigate the complexities of the new tax rules, partnering with Manavia offers a strategic advantage. Our expertise ensures that your trust arrangements are handled with the utmost professionalism and in alignment with your long-term financial goals.
Optimising Tax Strategies for Non-Doms | Talk to us today
By acting now to set up an Isle of Man trust with the support of Manavia, non-doms can secure their financial future against the forthcoming changes in the tax landscape.
For more information on how Manavia can assist you, email [email protected] or call us on +44 (0)1624 639350 to arrange your free consultation today.
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