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How to avoid being a property trader for income tax purposes
22/03/2010
Given the rise in the top rate of income tax to 50%, it's even more beneficial to avoid being classed as a property trader for tax purposes, and instead be classed as a property investor. The 18% rate of CGT will make it much more tax efficient for most developers. In this article we look at the different factors to take into account to ensure you're a property investor . . .
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Tax planning for partners and the new 50% rate of income tax
19/03/2010
As members will no doubt be aware as from April 2010 the top rate of income tax for anyone earning over £150,000 will be 50%. Partners in particular will be keen to reduce the tax burden as they will be taxed personally on the business profits. The new 50% tax rate will therefore hit them particularly hard. In this article we look at some of the main ways that Partnerships could look to reduce income tax. . . .
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How setting up a revocable life interest trust can reduce income tax
17/03/2010
As from 6 April there will be a new 'Super' rate of income tax set at 50%. What's not often appreciated though is that this will then represent the main rate of tax for discretionary trusts. In this article we look at how the new tax rate for trusts will apply and how trustees can use a revocable life interest trust to reduce the income tax charge . . .
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Reducing tax on property development by using a trust
15/03/2010
One possibility to reduce tax on property development is by using a trust. The general idea would be that you could save the 40% or 50% income tax charge you'd be subject to if you did the development in your own name by using a trust. The trust could be subject to income tax at the basic rate of 20%. There could therefore be a significant tax saving. . . .
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Some thoughts on a possible Statutory Residence Test
12/03/2010
Given the UK residency rules are, to say the least, currently pretty vague there's speculation that the Government will introduce a Statutory Residency Test. In this article we look at how such a test could be formulated and what impact this would have on prospective emigrants . . .
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Ordinary residence in 2010 following the Tucza decision
10/03/2010
Following a request from a member we've looked at the potentially important case of Andreas Tucza, which addresses UK ordinary residence status. Just like the Gaines Cooper and Grace decisions looked at residence status under common law, the Tucza case looks at ordinary residence status following a review of the case law. . . .
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Are companies now at risk of making unlawful dividends?
08/03/2010
Following a request from a member this article looks at whether companies and their shareholders are at risk of making unlawful dividends. In particular where they are not making the same level of profits as in previous years and yet continue to extract regular dividends it's been suggested HMRC could challenge the validity of the dividends for tax purposes . . .
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Saving SDLT on property purchases
05/03/2010
In this article we look at some of the SDLT planning opportunities for property developers. Although the property market is in a slump development will eventually pick up again, and especially in today's economic climate reducing costs is as important as ever. . . .
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Inheritance tax and your family company
17/02/2010
Given the current rate of inheritance tax is 40% this can represent a substantial tax charge, particularly if you have valuable assets such as shares in your family company. In this article we look at when and how such shares can and can't qualify for inheritance tax relief . . .
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Using estate tax treaties to avoid the deemed domicile rules
15/02/2010
Irrespective of your actual 'domicile' you can be treated as a deemed UK domiciliary which will result in your worldwide estate being subject to UK inheritance tax. In this article we look at how estate tax treaties can be used to prevent you being classed as a deemed domiciliary and how this can avoid UK inheritance tax. . . .
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Here's what our members are saying ...
"I joined the site after reading an offshore tax guide and was certainly not disappointed. The practical and 'to the point' tax planning has already saved me a considerable sum. I'd recommend this website to anyone."
Jerry Brown, Edinburgh
"I've saved £5,659 in CGT by using this site to double check my accountants advice. My wife has also identified further income tax savings of over £2,000 as result of the property tax articles.
In our case it's well worth the £10 membership fee."
Derek Bailey, Birmingham
I must thank you for the most informative reply to my enquiry.
It is so extensive, I intend setting an evening aside to absorb it all.
Again, thank you for a most useful website.
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Natasha Foude, France
"I have to say your web site is by far the best prepared and most informative that I have seen."
Elsa Budding, Newcastle
"I'm planning my emigration and the offshore reports are exactly what I'm looking for. I'll definitely be renewing!"
Sarah Mather, Reigate, Surrey.
"The property tax advice service was excellent, and I'd have no problems recommending it to anyone. I received my answer within 1 day and was very pleased with the response
Robert Saunders, Leicester
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Offshore Tax Book
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Capital Gains Tax
