FREE DOWNLOAD: UK Tax Planning With Special Purpose Vehicles (SPV's)
There are a number of reasons why UK residents may use a Special Purpose Vehicle (SPV). Often an SPV is a UK or offshore company although not necessarily. An offshore foundation or specific type of company such as a protected cell company could be used.
Some of the the main occasions when an SPV could be used include:
• To hide ownership (eg by using an offshore company/foundation to hold particular assets)
• To isolate assets from financial risk
• To crystallise capital gains
• To separate assets for tax purposes
• To allow shares rather than underlying assets to be transferred.
In this mini guide we'll look at some of these in a little more detail.
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About the Author
The Author of this article/answer is our site Editor, Lee Hadnum. Lee is a rarity among tax advisers having both legal and chartered accountant qualifications. After qualifying a prize winner in the Institute of Chartered Accountants exams, he also went on to become a chartered tax adviser (CTA).He worked in Ernst & Youngs Entrepreneurial Services department for a number of years before setting up his own tax planning practice. He is now a full time tax author.
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Disclaimer
=============================================================i) Please note that the articles/answers contain general guidance only and do not constitute accountancy, tax, investment or other professional advice.
ii) The contents of this article/answer are for information only and are intended to assist readers in identify any tax planning opportunities that may be available to them. The information contained in this answer is not intended to be a substitute for taking proper taxation advice and should not be relied upon in this way. Always consult a qualified accountant or taxation adviser. Your situation will then be looked at individually and specific advice relevant to your circumstances can be given. The Expert does not accept responsibility for any loss arising as a result of reliance on any information contained in this answer.
These Notes (and Disclaimer) do not affect your statutory rights in the United Kingdom.