JITU SHAH - Spear's Magazine

JITU SHAH

PRICE BAILEY

JITU SHAH
Category
The Spear’s Indices
Company Size
INTERNATIONAL

Top Recommended Tax Accountants

Jitu Shah is not happy with the way the government is handling tax legislation. ‘They keep bringing in new legislation in different areas on a rolling basis,’ he says. ‘One minute clients are worried about the non-dom regulations and inheritance tax is fine, then suddenly it flips and clients are facing a whole new set of worries.’

Of the non-dom fandango, he says: ‘It’s too radical a change – it’s frightening the richer clients and giving them motivation to leave the country… Clients have done extensive planning based on the law at the time: they’ve made all the arrangements. The government has changed the law so significantly – all the planning they [HNWs] did in the past has to be thrown out of the window.’

Shah says his inbox has been inundated: ‘Those who didn’t take action in the light of the new legislation have found themselves in a rather sticky situation because of the backdating. I now have quite a few new clients.’

However, for overseas clients – especially those who hold properties through companies – it’s been relatively easy for him to deal with the new non-dom regulations by arranging for assets to be reverted to privately owned properties. ‘I’ve moved a lot of property out of the country,’ he explains to Spear’s.



 

FOLLOW US ON