ACQUIRING LIFESTYLE ASSETS

The acquisition of lifestyle assets such as superyachts, private jets, luxury cars, art & timepiece collections can provide clients with a great deal of pleasure but the ownership and maintenance of such acquisitions can lend itself to considerable responsibility and cost.

Lancaster Knox can advise clients on tailored ownership structures that are both tax efficient and offer operational efficiencies in the upkeep of the asset. The mobile nature of the asset requires a knowledge that considers a number of jurisdictions and associated tax implications and is something that Lancaster Knox is comfortable with addressing. In the case of a private jet or a superyacht this can extend to providing VAT advice on both commercial and private ownership.