FORM 720 DEADLINE MARCH 2014 – FATCA DEADLINE JUNE 2014 – THE FINAL NAIL IN THE COFFIN FOR NON DISCLOSURE? NEED WEALTH MANAGEMENT ADVICE?

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FORM 720 DEADLINE MARCH 2014 FATCA DEADLINE
JUNE 2014 THE FINAL NAIL IN THE COFFIN FOR NON
DISCLOSURE? NEED WEALTH MANAGEMENT ADVICE?

• Form 720 must surely have served as a wake-up
  call to many of you even though the majority of
  you have done nothing and failed to report your
  overseas assets. We dont think the same approach
  is going to work in 2014 as Hacienda is
  specifically targeting UK expats with regard to
  obtaining full information and has recruited many
  more tax inspectors and investigators to make
  sure the same thing doesnt happen again.

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Wealth Management

• There seems to be a resistance to providing
  information and yet it is very clear from what is
  happening all over Europe, and the rest of the
  world for that matter, that tax authorities are
  demanding and obtaining information about the
  wealth and location of that wealth for all of
  its citizens. Basically if you dont tell the
  tax man he is likely to find out either by taking
  legal action against you, by receiving
  information from the UK Government (Spain, UK,
  Italy, France and Germany have joined forces to
  share information) or possibly even by anonymous
  information passed on by rogue employees of a
  bank or by snooping journalists eager for a new
  story.
• Now really is the time to do something to put
  your financial planning affairs in order always
  remembering that there are perfectly legitimate
  solutions that can ease your tax burden whilst at
  the same time making you totally tax compliant
  with the tax authorities.

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• If you are hoping that your offshore trust or
  company will negate the necessity for a
  declaration then we are afraid we have bad news
  for you. Being a beneficiary or signatory to any
  trust or company will mean a declaration in most
  circumstances and in any case war has been
  declared on overseas territories like Cayman and
  BVI who have agreed to supply relevant
  information to the taxman. Perhaps now would be a
  good time to review the rationale for holding
  such a vehicle of course estate and inheritance
  tax planning may be a core reason but if it is
  merely to disguise ownership of assets then you
  may be better off rethinking your tax planning
  strategy.
• You may be thinking that all this has nothing to
  do with you and your wealth consists of some
  money in an offshore account in Channel Islands
  or some investments back home in the UK so why
  should I bother. The point is that Channel
  Islands is now disclosing information and in any
  case are you really sure that you have tax
  efficient wealth management products suitable for
  you as a Spanish tax resident. Remember that UK
  investment bonds and ISAs whilst tax efficient
  when you are UK based, lose their tax efficiency
  as soon as you take up residency in Spain.

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• If this is a course of action you would like to
  take please contact a certified financial planner
  on Tel [phone] or email enquiries_at_fiduciaryweal
  th.eu for financial advice on your tax planning
  and financial planning //www.fiduciarywealth.eu/.
  

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• To resolve your problems please call a certified
  financial planner on Tel [phone] or email
  enquiries_at_fiduciarywealth.eu for financial advice
  and wealth management. Visit http//www.fiduciaryw
  ealth.eu/.

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CONTACT US

• Centro Commercial Mar y Sol
• Local 643-644 Sotogrande
• Cadiz 11310 ,Spain
• Tel [phone]
• Fax [phone]
• enquiries_at_fiduciarywealth.eu