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<b>Latest Tax Structuring </b>
2016 Update:  Tax efficient jurisdictions in Europe 2016 Update: Tax efficient jurisdictions in Europe
23/05/2016
In this article we look at the key "tax friendly" jurisdictions in Europe. These are particularly relevant due to the far reaching changes to the UK non dom regime. UK residents looking to break UK tax residence for a number of years may want to consider these countries keep reading

Non Dom Pre 2017 Tax Checklist Non Dom Pre 2017 Tax Checklist
20/05/2016
Although the details of the 2017 non-dom changes are not yet known, non-doms should start to considering their position with a view to action once details are released. In this Practitioner Zone article we provide a list of key action points non doms should consider before April 2017 keep reading

Using a family property investment company to reduce income tax, capital gains tax and inheritance tax Using a family property investment company to reduce income tax, capital gains tax and inheritance tax
20/05/2016
Using a company to hold buy to let property can be attractive for a number of reasons not least because of the much lower rate of corporation tax when compared to income tax (20% vs 45% at the moment and the rate of corporation tax is to reduce to 17% from April 2020). However, going further than this a property investment company can be very attractive as a way to provide an income to other family members and can also have significant IHT advantages.Practitioner Zone article. keep reading

Claiming home expenses from your company (including pro forma documentation) Claiming home expenses from your company (including pro forma documentation)
19/05/2016
As a limited company company director you can charge your company a rent for using a room in your home as an office. In this Practitioner Zone article we look at how this works, how to calculate the claim and a pro forma of the relevant documentation you need keep reading

Directors salary for 2016/2017 - what should you pay to reduce income tax, NIC & corporation tax? Directors salary for 2016/2017 - what should you pay to reduce income tax, NIC & corporation tax?
17/05/2016
Generally, if you are the director of an owner managed company, you would pay yourself a small salary, which is just enough to maintain your National Insurance Contributions records, and extracting profits above that level as a dividend. However, changes from April 2016 impact on this significantly. In this article we look at the optimum salary Directors should receive to reduce tax keep reading

Restructuring UK property holdings in advance of the new tax transparency changes Restructuring UK property holdings in advance of the new tax transparency changes
16/05/2016
The government has proposed that from April 2017, foreign companies and other non-UK vehicles holding UK residential property will be regarded as transparent for inheritance tax purposes, regardless of the domicile status of the underlying beneficial owner or settlor. In this Practitioner Zone article we consider restructuring options keep reading

Excluded property trusts and the 2017 non-dom changes Excluded property trusts and the 2017 non-dom changes
11/05/2016
A number of changes to the tax treatment of non-doms will apply from April 2017. In this Practitioner Zone article we look at the changes that apply to excluded property trusts keep reading

Alternative jurisdictions for non doms to reset the non-dom clock Alternative jurisdictions for non doms to reset the non-dom clock
29/04/2016
As from April 2017 non-doms will be deemed domiciled in the UK if tax resident for 15 of the previous 20 tax years. An effective strategy to avoid this could be to cease residence for 6 tax years. In this Practitioner Zone article we look at alternative jurisdictions that could be used to reset the non-dom clock keep reading

How to de-envelope a property held by a company How to de-envelope a property held by a company
26/04/2016
Many owners of residential property held in either UK or offshore companies are looking to transfer the properties into their personal name (or into a direct holding by a trust). In this Practitioner Zone report we look at how this could be achieved. keep reading

3% SDLT - Key points for corporate property developers 3% SDLT - Key points for corporate property developers
21/04/2016
The draft legislation published with the March 2016 Budget provides additional details on how the 3% SDLT charge will apply to corporate property developers. In this Practitioner Zone post we look at the key points and options available keep reading


Latest Online Tax Tools
2016 Profit Extraction Calculator: Compare Pre/Post April 2016 2016 Profit Extraction Calculator: Compare Pre/Post April 2016
This tax calculator compares the total tax payable on the extraction of profits from a company pre and post April 2016. It allows you to compare the total corporation tax and income tax on any profit level taking account of the tax changes to dividends from April 2016. Practitioner/Coaching Club members only. keep reading

Dividend Tax Calculator: 2016+ Dividend Tax Calculator: 2016+
This tax calculator calculates the corporation tax and dividend tax for a limited company after April 2016. It takes account of the dividend tax allowance and the new tax regime for dividends. Practitioner Members only keep reading

Non-Resident CGT Calculator: Individuals/Companies After 2015+ Non-Resident CGT Calculator: Individuals/Companies After 2015+
This tax calculator will tell you how the CGT provisions will apply to individuals and companies owning UK residential property from April 2015. You simply follow the step by step instructions and it determines how you and the company will be taxed. keep reading

Non Resident Income Tax Calculator Non Resident Income Tax Calculator
Even if you have established non UK residence status this doesn't necessarily mean that you have no liability to UK income tax. This useful tax calculator will tell you whether you will be subject to UK income tax. You simply follow the step by step instructions. keep reading

Transfer of assets abroad tax calculator Transfer of assets abroad tax calculator
The transfer of asset rules can tax UK residents on the income arising in an offshore company, foundation or trust. This tax calculator will tell you whether these rules will apply to you. You simply follow the step by step instructions and it determines whether you'll be subject to these provisions. This tax tool is free for Gold and Platinum members. keep reading


Latest Tax Answers
Inheritance tax for non UK resident - USERNAME: PFT56 - 27/05/2016
Question: My mother,a foreign national,has lived outside of the U.K for three years. If she want to give money to her children in excess of the normal gift allowance for UK residents,will that money be free from any future inheritance tax claim? If if the future she went back to the U.K would that generate a restrospective liability? keep reading

Tax on Spread Betting Investment Clubs - USERNAME:CR8 - 27/05/2016
I currently run a share investment club in which various people have invested between £10,000 and £30,000. We use spreadbetting companies to trade as there is no capital gains or corporation tax to pay on betting. I am looking into the liabilities for fund members and also myself who has been given the money to trade with. In addition what are the tax liabilities for fund members from profits taken from such a fund, even if there is no tax to individuals who use spreadbetting. keep reading

Investing surplus cash and business property relief - USERNAME: william - 26/05/2016
Tax Question: In your book, inheritance tax planning handbook 2016, in chapter 17, on companies with large cash balances. If I understand correctly, when surplus cash in an unquoted company is invested rather than left on pure cash deposit then it would still qualify for BPR on inheritance tax. Assuming the sums involved were less than 30% of the value of the trading business would mutual funds / index funds / stock & shares etc qualify? Could the cash be invested on a regularly monthly / quarterly basis. keep reading

Tax on sale of shares in IOM company - USERNAME: taxmnr57 - 26/05/2016
Tax Question: Transfer of shares to non dom wife and UK tax continued. Your answer is helpful. If the wife claims remittance basis and avoids UK CGT on the sale of shares by retaining the proceeds overseas. And pays the £30K remittance basis charge. Is there any tax she would have to pay in Italy? Thx keep reading

15 or 13 year non dom rule? - USERNAME: reistrom - 26/05/2016
Tax Question: Hi, coming back to my question and your answer I have been of the opinion that the new deemed domicile rule is that I would become deemed domiciled after having lived 15 out of 20 years in the UK. I seems to me that you took 13 years for your calculation. Is there a reason for this having told to me that I will be deemed domiciled on 6th April 2018? Thanks, reinhold keep reading

Inheritance tax & joint insurance policies
27/05/2016
Inheritance tax & joint insurance policies It's reported that most holders of life insurance policies don't put their policies in trust. This article looks at the benefits of writing life insurance policies in trust, and considers the inheritance tax position of joint policies . . . keep reading

Using a UK company as a holding company
25/05/2016
Using a UK company as a holding company Holding companies are often used as a form of financial funnel. By having a company located in a suitable holding company jurisdiction hold the shares in a variety of companies, it's possible to ensure that the profits are funnelled into a low tax, or tax advantageous environment. . . . keep reading

2016 Update: Tax efficient jurisdictions in Europe
23/05/2016
2016 Update:  Tax efficient jurisdictions in Europe In this article we look at the key "tax friendly" jurisdictions in Europe. These are particularly relevant due to the far reaching changes to the UK non dom regime. UK residents looking to break UK tax residence for a number of years may want to consider these countries . . . keep reading

Non Dom Pre 2017 Tax Checklist
20/05/2016
Non Dom Pre 2017 Tax Checklist Although the details of the 2017 non-dom changes are not yet known, non-doms should start to considering their position with a view to action once details are released. In this Practitioner Zone article we provide a list of key action points non doms should consider before April 2017 . . . keep reading

Using a family property investment company to reduce income tax, capital gains tax and inheritance tax
20/05/2016
Using a family property investment company to reduce income tax, capital gains tax and inheritance tax Using a company to hold buy to let property can be attractive for a number of reasons not least because of the much lower rate of corporation tax when compared to income tax (20% vs 45% at the moment and the rate of corporation tax is to reduce to 17% from April 2020). However, going further than this a property investment company can be very attractive as a way to provide an income to other family members and can also have significant IHT advantages.Practitioner Zone article. . . . keep reading

Claiming home expenses from your company (including pro forma documentation)
19/05/2016
Claiming home expenses from your company (including pro forma documentation) As a limited company company director you can charge your company a rent for using a room in your home as an office. In this Practitioner Zone article we look at how this works, how to calculate the claim and a pro forma of the relevant documentation you need . . . keep reading

UK withholding tax for royalties after the 2016 Finance Bill
19/05/2016
UK withholding tax for royalties after the 2016 Finance Bill This years Finance Bill makes a number of changes to UK royalty withholding tax. In this article we look at the current rules and how UK royalties apply after the Finance Bill . . . keep reading

Directors salary for 2016/2017 - what should you pay to reduce income tax, NIC & corporation tax?
17/05/2016
Directors salary for 2016/2017 - what should you pay to reduce income tax, NIC & corporation tax? Generally, if you are the director of an owner managed company, you would pay yourself a small salary, which is just enough to maintain your National Insurance Contributions records, and extracting profits above that level as a dividend. However, changes from April 2016 impact on this significantly. In this article we look at the optimum salary Directors should receive to reduce tax . . . keep reading

Restructuring UK property holdings in advance of the new tax transparency changes
16/05/2016
Restructuring UK property holdings in advance of the new tax transparency changes The government has proposed that from April 2017, foreign companies and other non-UK vehicles holding UK residential property will be regarded as transparent for inheritance tax purposes, regardless of the domicile status of the underlying beneficial owner or settlor. In this Practitioner Zone article we consider restructuring options . . . keep reading

FREE DOWNLOAD - Company Tax Planning Handbook 2016/2017
12/05/2016
FREE DOWNLOAD - Company Tax Planning Handbook 2016/2017 This book looks at a number of tax planning issues for company owners and considers both corporate and personal tax planning opportunities available. It is updated for the latest changes for 2016/2017 and includes numerous new sections. . . . keep reading

Excluded property trusts and the 2017 non-dom changes
11/05/2016
Excluded property trusts and the 2017 non-dom changes A number of changes to the tax treatment of non-doms will apply from April 2017. In this Practitioner Zone article we look at the changes that apply to excluded property trusts . . . keep reading

Deferred shares and Entrepreneurs Relief
09/05/2016
Deferred shares and Entrepreneurs Relief In this article we look at the impact of a recent decision that looked at whether deferred shares qualify as ordinary shares for the purposes of Entrepreneurs Relief. . . . keep reading

Everything you need to know about the new Land and Buildings Transaction Tax
06/05/2016
Everything you need to know about the new Land and Buildings Transaction Tax As from 1 April 2015 Stamp Duty Land Tax (SDLT) ceased to apply to transactions involving land in Scotland and was replaced by the Land and Buildings Transaction Tax (LBTT). In this Practitioner Zone article we look in detail at LBTT and compare it with SDLT . . . keep reading

Tax implications of Brexit
05/05/2016
Tax implications of Brexit In this article we look at some of the direct tax and indirect tax implications of leaving the EU . . . keep reading

Questions HMRC may ask when assessing the residence of an offshore company
03/05/2016
Questions HMRC may ask when assessing the residence of an offshore company If you're planning on setting up an offshore company to avoid UK corporation tax on the profits of a UK trade or capital gains, one of the difficulties is ensuring that the central management and control is based overseas. In this article we look at some of the questions that HMRC may raise in an enquiry into the residence of an offshore company . . . keep reading

Alternative jurisdictions for non doms to reset the non-dom clock
29/04/2016
Alternative jurisdictions for non doms to reset the non-dom clock As from April 2017 non-doms will be deemed domiciled in the UK if tax resident for 15 of the previous 20 tax years. An effective strategy to avoid this could be to cease residence for 6 tax years. In this Practitioner Zone article we look at alternative jurisdictions that could be used to reset the non-dom clock . . . keep reading

How non doms can still save tax with offshore trusts even if they're not claiming the remittance basis
29/04/2016
How non doms can still save tax with offshore trusts  even if they're not claiming the remittance basis It's often thought that most of the benefits of non dom status cease to apply if a non-dom claims the arising basis. This is certainly not the case. This article looks at how non doms can still make use of offshore trusts to avoid UK tax whether they claim the arising basis or the remittance basis of tax. . . . keep reading

How to de-envelope a property held by a company
26/04/2016
How to de-envelope a property held by a company Many owners of residential property held in either UK or offshore companies are looking to transfer the properties into their personal name (or into a direct holding by a trust). In this Practitioner Zone report we look at how this could be achieved. . . . keep reading

Tax on the migration of trusts
25/04/2016
Tax on the migration of trusts Following a request from one of our members we've looked in detail in this article at the UK tax implications of trusts migrating overseas. Trust migration essentially means that a UK resident trust becomes non UK resident. . . . keep reading

FREE DOWNLOAD - Buy To Let Tax Planning In 2016/2017
24/04/2016
FREE DOWNLOAD - Buy To Let Tax Planning In 2016/2017 Buy To Let ("BTL") landlords have to consider Income tax, Capital gains tax, Inheritance tax and Stamp duty land tax on their property holdings. In this book we look at tax planning techniques that all BTL landlords can consider to reduce the amount of these taxes they pay. . . . keep reading

3% SDLT - Key points for corporate property developers
21/04/2016
3% SDLT - Key points for corporate property developers The draft legislation published with the March 2016 Budget provides additional details on how the 3% SDLT charge will apply to corporate property developers. In this Practitioner Zone post we look at the key points and options available . . . keep reading

FREE DOWNLOAD - Non-Resident and Offshore Tax Planning 2016/2017: How To Cut Your Tax To Zero
19 April 2016
FREE DOWNLOAD - Non-Resident and Offshore Tax Planning 2016/2017: How To Cut Your Tax To Zero This brand new (April 2016) edition of our best selling offshore tax planning book tells you what you need to know to take advantage of offshore opportunities and slash your UK tax bill. It's a pretty comprehensive look at plenty of UK and offshore tax planning techniques including residence, domicile, emigration, using offshore companies and trusts, buying property overseas and much more. . . . keep reading

Claiming Principal Private Residence relief if you convert a house into flats
18/04/2016
Claiming Principal Private Residence relief if you convert a house into flats Anyone converting a house into flats should be concerned with any capital gain on a future disposal of the flats. If you have previously occupied the house or are planning to occupy the flats claiming principal private residence relief should be a key consideration. This article looks at this in detail . . . keep reading

How March 2016 royalty tax changes effect the UK tax treatment of outbound royalties
15/04/2015
How March 2016 royalty tax changes effect the UK tax treatment of outbound royalties In March 2016 the Government announced significant changes to the tax treatment of royalties paid overseas ("outbound royalties"). In this article we look at effect of the changes and possible solutions . . . keep reading

Review of the draft legislation on the 3% SDLT surcharge
13/04/2016
Review of the draft legislation on the 3% SDLT surcharge In this Practitioner Zone article we review the draft legislation that has been issued to implement the 3% SDLT surcharge. . . . keep reading

Filing requirements for non-doms
11/04/2016
Filing requirements for non-doms In this Practitioner members article we look at exactly when non-doms have to file a tax return, taking account of the key exemptions and reliefs available. . . . keep reading

UK tax and gifting cash abroad
11/04/2016
UK tax and gifting cash abroad If you're considering gifting overseas cash to family members you should ensure that you carefully consider the UK tax implications. In this article we look at the income tax and inheritance implications for both UK domiciliaries and non UK domiciliaries . . . keep reading

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