Technical analysis of the current trust protection rules for deemed-domiciled settlors has now been published, suggesting that offshore income gains from offshore trusts set up before they became deemed-domiciled may in fact be protected from tax.

The analysis has not been endorsed by any of the professional bodies and practitioners, but they are encouraged to use their own judgement. The analysis has been sent to HMRC, but the lack of any response from HMRC has led to the publication of the technical analysis so that practitioners can consider how to deal with deemed-doms' 2017-2018 tax returns.