Capital Gains Tax changes for offshore trusts – How UK resident beneficiaries will be affected - Grunberg & Co

Capital Gains Tax changes for offshore trusts – How UK resident beneficiaries will be affected - Grunberg & Co

By James Thomson ATT CTA, Tax Manager at Grunberg & Co. Following the major Inheritance Tax reforms and remittance basis changes covered in the first two parts of our series, the final article focuses on the recent Capital Gains Tax (CGT) changes that will impact UK resident beneficiaries of offshore trusts. These changes mean that beneficiaries receiving capital payments or benefits from foreign trusts could face increased CGT liabilities. How …