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Holding a website offshore to reduce UK tax
03/02/2012
If you're looking to set up a website and want to reduce UK tax on the profits generated by that site, one option to avoid tax on the profits is by operating the site from overseas. This article looks at the offshore options to avoid tax on the profits of a website including non residency and using an offshore company. . . . keep reading
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Interesting case on the tax treatment of disposal of Goodwill
01/02/2012
Determining whether a receipt is taxed as capital gain or income will have a significant impact on the tax treatment. For individuals in particular capital treatment will often be preferred. In this article we look at a very recent case that considered how a receipt for the transfer of Goodwill should be taxed . . . keep reading
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Structuring a share sale to avoid income tax for directors
30/01/2012
If you're an employee or director in a company, any enhanced rights to payments on a share sale are usually subject to income tax. This could potentially mean income tax and NIC at 50%. If you can structure this as within the charge to capital gains tax you'd be looking at a tax charge up to 28%. In this article we'll look at the facts of a case where the directors undertook some planning to avoid the income tax charge. . . . keep reading
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CGT position on the remittance of pre 2008 capital gains
27/01/2012
Following a post in our forum we've looked in detail at the position of capital gains that arise before April 2008 but are subject to the remittance basis. In this article we analyse the tax provisions to assess how remittances after April 2008 will be treated . . . keep reading
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Tax treatment of dividends in a recent case
25/01/2012
There's been an interesting example of how HMRC and the Courts approach the tax treatment of dividends in a recent case. In this article we look in particular at how the approach taken by the appeal courts has led to some strange decisions being taken . . . keep reading
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Tracing and valuing remittances for non doms
23/01/2012
The new rules that govern when income and gains are classed as remitted to the UK are very wide. In particular the tracing provisions can apply to trace the 'original' income and gains through any number of subsequent investments or transactions and there are provisions to trace income and gains through other individuals. This article looks at how to identify and value taxable remittances to the UK . . . keep reading
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Gibraltar - make the most of the attractive personal tax regime
18/01/2012
Due to significant tax increases there has been a marked increase in wealthy individuals moving to fiscally attractive jurisdictions. Gibraltar is one of the jurisdictions beginning to see an increase in individuals relocating there. In this article from our Gibraltar tax expert we look at the tax benefits of moving to Gibraltar . . . keep reading
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Asset Protection in a Recession
13/01/2012
With the current financial downturn, protecting what you have is more important than ever. In this article we look at the implications of the recession for asset protection strategies and what you can do to safeguard your assets . . . keep reading
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UK CGT when remitting proceeds from foreign capital gains
11/01/2012
If you're a non dom and have been taxed on the remittance basis, determining the tax treatment of any remittance of proceeds from your foreign capital gains is crucial. In this article we look at the tax treatment of proceeds and capital gains under the remittance basis . . . keep reading
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How to generate a tax loss on properties without actually selling
06/01/2012
As you'd expect, property traders and investors can get tax relief for property losses when they sell. If they're traders they'd incur a trading loss and if investors they'd incur a capital loss. These losses can be offset against other income or capital gains dependent on the type of loss incurred. But what about if the property isn't sold? Is there any way that tax relief can be obtained for an 'unrealised' loss? . . . keep reading
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Tax planning on the sale of a business
04/01/2012
There are a variety of ways that both individuals and companies could look to reduce or even avoid capital gains tax on the sale of a business. In this article we look at some of the main tax planning opportunities available to both individuals and companies . . . keep reading
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Top Tax Planning Uses For Offshore Trusts
02/01/2012
In this article we'll provide a summary of some of the top tax planning opportunities for offshore trusts. There are now numerous anti avoidance provisions that can apply, however for the well advised there are still options available to use these tax efficiently. . . . keep reading
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Latest case on selling part of a business and Entrepreneurs Relief
23/12/2011
Ensuring that you qualify for Entrepreneurs Relief on a disposal of your business can reduce your CGT rate from 28% to 10%. Where you're not selling all of your business a crucial distinction is whether you are selling business assets or part of your business. Only in the latter case will you qualify for Entrepreneurs Relief. This article looks at a recent case covering this important point . . . keep reading
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Court of appeal decision on extracting remuneration as dividends
21/12/2011
There are clear benefits to many workers from extracting cash as dividends as opposed to salary/bonus. Not only does it avoid national insurance, but in most cases the lower rates of income tax on dividends will outweigh the benefit of the corporation tax deduction for salary/bonus. It's therefore no surprise that structuring is often implemented to take advantage of this. This article summarises the results of a recent court of appeal decision . . . keep reading
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Best way for non doms to hold UK property?
14/12/2011
It's often asked which is the best way for non doms to hold UK property. In this article we look at the key tax issues and whether it is beneficial to hold personally, use an offshore trust or an offshore company . . . keep reading
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Concerns from the European Commission about the UK-Switzerland Tax Agreement
09/12/2011
The recent tax agreement between the UK and Switzerland provides for provisions to collect tax from UK residents with undisclosed bank accounts in Switzerland. Essentially it provides for a payment to reflect back taxes and then ongoing taxes on income/gains etc. The benefit to the UK resident is that banking confidentiality is maintained. However, it is now uncertain that this agreement will be implemented after concerns from European Commission. . . . keep reading
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Buying property tax efficiently whilst your children are studying
07/12/2011
The slump in property prices will have made many people consider whether buying property for their children to occupy whilst at university is cost effective. However, given the currently low prices, if you're looking at the long term with perhaps other family members occupying the property and also renting it out to third parties it can still be a worthwhile investment. In this article we look at structuring such a purchase tax efficiently . . . keep reading
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Offshore Tax Book
Non Dom Tax Book
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Our Latest Articles
Revealed - QC approved scheme to avoid CGT on the sale of UK investment property whilst UK resident/domiciled
Tax Book - Tax Planning Techniques Of The Rich & Famous
How UK residents can use a Singapore company to avoid UK capital gains tax
How tax hurts your investments - moving abroad to retain your wealth
