Equiom: Tax analysis expertise par excellence

A conversation with Nina Johnston and Jenny Akrigg of Equiom

Equiom is a global trust and corporate services provider with over 45 years of experience supporting international corporations, high-net-worth individuals, and families worldwide with their wealth and succession planning and related business support needs. The European spoke to Nina Johnston, Managing Director of Equiom’s Isle of Man office and Jenny Akrigg, Director, Equiom Tax Services Limited about its service capabilities and approach to doing business.

How does Equiom tailor its trust and estate planning services to meet the unique needs of high-net-worth clients?

Nina Johnston: We understand that being successful is one thing and staying successful is quite another. That’s why our range of award-winning private wealth services are tailored by our dedicated advisors to support, protect and grow the rewards of your hard work. We understand that each clients’ needs are unique to them and their families and as a result we implement bespoke strategies that align with their personal objectives and financial goals. Developing a relationship of mutual trust and confidence is extremely important to us to build a clear picture and understand each clients ultimate goals. This approach ensures we not only meet but surpass our clients’ expectations in managing their complex succession planning needs.

Can you elaborate on the specific tax advisory services Equiom provides that support the Locate Isle of Man agenda?

Jenny Akrigg: Recognised as one of the largest providers of both private client and corporate tax services in the Isle of Man, Equiom Tax Services Limited (ETSL), delivers an extensive range of tax advisory and compliance services through our dedicated private client tax team. 

Our tax experts can advise on all core tax areas from both a UK and Isle of Man perspective, including personal tax (with a focus on offshore trust taxation), corporate tax, employment tax and VAT. We utilise our expertise to liaise with the Isle of Man and UK tax authorities for the benefit of our clients, including representing both individuals and corporations involved in tax investigations and disputes across both direct and indirect taxes. 

ETSL have assisted many individuals with a tax analysis of a potential relocation to the Isle of Man for their families and their businesses, offering tailored advice, a comprehensive step plan and tax structuring solutions to optimise their UK and Isle of Man tax position. Our experienced team will “hand hold” the client through all tax-related aspects of their move, including entry and exit filings, structuring matters, and ongoing tax compliance requirements.

What are the key benefits of establishing a family trust or private trust corporation with Equiom?

NJ: Establishing a family trust offers numerous benefits, particularly for wealth preservation and estate planning, enabling assets to be managed and distributed according to specific terms and facilitating financial stability for future generations. Family Trusts can provide significant tax advantages through mitigation of gift and estate taxes, while offering asset protection by safeguarding wealth from creditors. Additionally, a trust can facilitate the smooth transfer of assets between generations, reduce the potential for disputes amongst heirs, and can also support philanthropic goals or provide for the needs of specific beneficiaries. Families can choose to appoint an independent professional trustee or, where a family wishes to retain greater control, they might establish a Private Trust Company to fulfil their objectives.

How does Equiom ensure compliance and efficiency in wealth structuring across multiple jurisdictions?

JA: In a time of increased global mobility amongst the ultra-high-net-worth community and an evolving regulatory framework driven by international organisations such as the OECD, Equiom is able to leverage its scale and substance in a number of the leading financial centres to deliver solutions to clients that incorporate cross border legal frameworks, international tax law and regulatory obligations. Equiom maintain a global professional network and stay updated on evolving international regimes to ensure clients receive tailored services. In addition, our continuing investment in technology enables us to maintain and utilise data to meet our international reporting obligations efficiently and effectively.

Further information

To find out more about Equiom’s services, please visit: www.equiomgroup.com

For more about the regulatory status of Equiom’s companies please visit: www.equiomgroup.com/regulatory

This article has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. This article cannot be relied upon to cover specific situations, and you should not act, or refrain from acting, upon the information contained within this content without obtaining specific professional advice. Please contact Equiom to discuss these matters in the context of your particular circumstance. Equiom Group, its partners, employees, and agents do not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this article or for any decision based on it.