Released on = May 24, 2007, 9:00 am

Press Release Author = Lee Handum

Industry = Financial

Press Release Summary = \"You\'ve probably read in the newspapers of various
celebrities and successful business who manage to avoid or at least substantially
reduce their UK taxes - whilst a significant proportion of the general public are
paying close to 50% of their income in tax.

Press Release Body = \"You\'ve probably read in the newspapers of various celebrities
and successful business who manage to avoid or at least substantially reduce their
UK taxes - whilst a significant proportion of the general public are paying close to
50% of their income in tax. Well, there\'s nothing to prevent you using some of these
techniques to slash your UK taxes as well, depending on your circumstances.
Here\'s some of the techniques that the Rich & famous use:
Make the most of your offshore status
People like Mohammad al Fayed make tremendous use of their non UK domiciled status.
If you\'re an overseas national and were born overseas (typically your father will
also have been a non UK domiciliary at the date of your birth) you can avoid paying
any tax on your overseas income and capital gains. The main condition to this is
that you need to keep the income or proceeds outside of the UK. As you\'d expect
though there are ways around this to enable some of the proceeds and income to be
brought into the UK free of taxes
Make the most of your spouses offshore status
If you\'re lucky enough to have a husband or wife that is either non UK resident or
non UK domiciled you can use their offshore status to your advantage. This is what
Philip Green did (the billionaire owner of BHS). His wife is a resident of Monaco
and he ensured that she extracted dividends from his UK companies free of UK (and
overseas) tax. This saved him paying UK tax of around £200Million that he would have
otherwise had to pay if he\'d extracted the dividends.
Using a tax efficient holding company.
Famous bands such as U2 and the Rolling stones make use of some of the best
Web Site = http://www.wealthprotectionreport.co.uk

Contact Details = 234 Manchester New Road
Manchester
M24 1NP
UK