Inheritance Tax Traps for Expats - Are you aware that from 2018 your worldwide assets will be subject to tax? [Showcase Session]

  • When:
    Tuesday, 29 November 2016, 6:45pm - 9:00pm
  • Where:
    Crown Lounge, 5/F, The Westin Bund Center Shanghai, 上海威斯汀大饭店五楼皇冠厅
    88 Henan Zhong Lu
  • Price:
    Free for both members and non-members.

Non-member RSVP:

Jason-PearceOscar Winson is delighted to invite Jason Pearce, Area Manager of Hong Kong & NE Asia at Old Mutual International, to deliver an insightful evening that will focus on two key issues: UK Domicile and Inheritance Tax (IHT) and the Automatic Exchange of Information and the Common Reporting Standard.

As a UK domicile, Inheritance Tax (IHT) is a core tax affecting anyone that possesses UK domicile status. Regardless of how many years that you may have lived outside of the UK, all UK domiciles are subject to pay IHT. Jason will begin the showcase session by sharing key information that is of high value to all UK domiciles on how to effectively reduce inheritance tax. Jason will also tackle issues including how all UK domicile assets can be as tax efficient as possible. Key presentation points are:

  • For UK domiciles, their entire worldwide property is subject to IHT (at 40%) upon death
  • Losing UK domicile is extremely difficult, even if you have lived outside the UK for many years
  • The burden of proving a change of domicile rests with the taxpayer
  • There are legitimate and non-aggressive ways of reducing a future IHT bill
  • There are further options available to UK domiciles who are married to non-domiciles
  • Do you have valid, up to date wills for each country in which you own assets?
  • Is your estate structured in the most tax-efficient way?

Appealing to individuals of all nationalities living and working in China, the second part of the showcase session will focus on the Automatic Exchange of Information and the Common Reporting Standard. Jason will navigate attendees through the significant changes regarding the share of information among tax authorities, set to commence in 2017. Key presentation points are:

  • Beginning in 2017, tax authorities around the world will automatically exchange information with each other on financial accounts
  • So far, 104 countries have agreed to exchange, including China, Hong Kong, India, Indonesia, Macao, Malaysia and Singapore
  • This will affect everyone who owns financial assets in a country other than the one in which they live
  • If you have any investments or financial accounts outside China, this will affect you
  • The exchange will eventually also encompass real estate and salaries
  • Are you aware of exactly what will be reported, to whom, and when, and any actions you can take to minimise the inconvenience to you?

Running Order:

  • 6.45pm arrive - networking with coffee and biscuits
  • 7pm start - Who is Oscar Winson
  • 7.15pm - Presentations
  • 8.00pm - Q & A
  • 8.15pm - 9pm networking/canapés/drink

Non-member RSVP:

About Oscar Winson 

oscar-winsonOscar Winson is an independent, privately owned multinational wealth management and private finance firm offering impartial advice and services to individuals, families and businesses. We work with clients on an individual basis to best establish their financial goals. Every client’s needs are different and therefore each solution must also be tailored to each individual client. Our clients benefit from access to our global network of financial institutions, funds and financial solutions.

About Old Mutual International 

omiOld Mutual International is the international arm of Old Mutual Wealth, one of the leading retail investment business. Old Mutual Wealth oversees £111.2 billion in customer investments.

Old Mutual Wealth is part of Old Mutual plc, a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million customers across the world and has a total of £342.7 billion assets under management.

<Showcase Session> is a new service that the Chamber is offering to members. Through the <Showcase Session>, member companies will have the opportunity to introduce and promote their services and products to interested British Chamber Shanghai members and non-members.  Please contact the Chamber at +86 21 6218 5022 for more details. 

Event contact

+86 21 6218 5022