As highlighted earlier by Comsure https://www.comsuregroup.com/jersey-trust-named-in-non-disclosed-dotas-scheme-during-hmrc-victory-against-tax-avoidance-promoters/ HMRC won £40 million battle against tax avoidance promoters – HM Revenue and Customs has won a legal case over tax avoidance scheme promoter Hyrax Resourcing Ltd, which will help the tax authority collect over £40 million in unpaid taxes. Unfortunately, the scheme relied on an offshore trust in […]

The successor to the infamous Jimmy Carr ‘K2’ scheme has just surfaced following a decision by the First Tier Tribunal which found that a contractor loan scheme should have been notified under the Disclosure of Tax Avoidance Schemes (DOTAS) regulations. With striking similarities in the way it was marketed and operated to K2 the scheme, […]

Chinese wealth manager set up its Ark Trust (Jersey) Ltd with help from Jersey partner JTC. US-listed Chinese wealth manager Noah Holdings Ltd said it has obtained a licence to offer trusts to wealthy Chinese in the offshore financial centre of Jersey, reflecting increased Chinese demand to allocate assets overseas. Noah said it was the […]

In Nolan v Minerva Jersey’s Royal Court held a trust company liable to compensate the victims of their client who had defrauded them even though that company did not carry out the actual frauds. Because it handled the proceeds of the fraud the Court decided it had dishonestly assisted a breach… Click on the link […]

Introduction The law in Jersey relating to the consequences of receiving a bribe has been recently clarified in the case of Lloyds Trust Company (Channel Islands) Limited v Fragoso and Others [2013] JRC 211 concerning a Jersey trust known as the Rex Trust The Rex Trust itself had been established in 1999 by a Mozambican […]