• Offshore Tax Health Check ("OTHC") Now Even More Important STILL

    I originally published this post on 30 September 2016. Not much has changed since then other than HMRC's inexorable tightening of the noose.

    What is an Offshore Tax Health Check?

    Your doctor gives you a medical check-up. An OTHC is a Tax Check-up done by a specialist offshore tax advisor. Its purpose is to

    a) Identify any changes in legislation, case law or practice since you set up the offshore tax planning

    b) Identify any weaknesses in how it was implemented or subsequently run

    c) Advise on any remedial action

    Why have an OTHC?

    HMRC has increased its focus on offshore matters. The Requirement To Correct includes a requirement to check or have checked that your offshore tax planning works.

    FATCA is here but the Common Reporting Standard ("CRS") has in many respects overtaken FATCA. Under CRS almost all countries will be reporting information to its local tax authority who will pass that information on to your tax authority. The early joiners (including the UK, Ireland, Isle of Man, Channel Islands) have already started to exchange this information. For example, if you are living in Ireland and you own a Jersey company, the Jersey providers will give or have already your details (name, address, tax number, etc) to the Jersey tax authorities. In turn, they will pass these details to the Irish Revenue.

    What do we do?

    We work hand-in-hand with existing advisors. If the original promoter of the tax planning is still around, then we liaise with him or her. We work with your accountant, tax advisor or IFA. Our intention is to supplement the advice they give in the specialist area of offshore tax.

    We are happy to work from your office, your advisor’s office or our office.

    How much does it cost?

    Normally we would calculate our fees on a time basis but we always try to quote you a fixed fee if the scope of the work can be determined.


    Our initial “desk” review is free. During this review we gather basic information, ensure that we can help, identify what further documents and information we require and quote a fixed fee for the initial report. The “desk” can be in our office or yours.


    In the first stage, we are willing to give 50% off our standard fees for the first half day. Normally £1,200 reduced to £600.

    Together, the initial and stage 1 reviews would normally be enough time to produce an initial report from which you or your client would be able to decide how to proceed.

    Go here to contact us



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