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Displaying Matches 17 thru 20 of 20 Found. FIRSTBACK
Tax Question: Hello I am a non UK resident (resident of Malta) but a UK citizen and domicile. I have a residential property portfolio with substantial capital gains that I wish to sell prior to moving back to either France or the UK or elsewhere. The properties are registered in my own name (127 of them in a singles estate) so there is no transfer tax (value less than 125k each). I am thinking of transferring them to to an offshore company to crystallise a capital gain whilst I am non resident. thereby paying no capital gains tax. The plan would then be to sell the properties later, maybe when I am a UK resident or tax payer, so as to minimise the tax payable. Questions: Is an offshore company a sensible way of crystallising this gain? One of the reasons for doing this would be to allow me freedoms to live where i want to without tax considerations. Are there any offshore jurisdictions where it would be better to set up an offshore company for this purpose, bearing in mind I may...
Tax Question: I am self employed business project manager who charges for services via a traditional limited company / accountancy structure. I have a min salary/ dividend withdrawal mechanism and pay corporation tax and pay flat rate VAT. Because of the location of project assignments I do not incur more than £500 expenses (mainly travel/accomm) each month so don't appear to be benefiting from the Ltd company set up. I have been recently contacted by two tax advisers advising the benefit of switching to a LLP set up in order to increase my monthly take home pay. I do not have much knowledge of the LLP process and am nervous of using companies which I have not heard of. Could you provide some guidance of whether a switch would be advantageous to my personal circumstances and if so could be recommend the top 3 market leaders who provide LLP services for contractors. I have been approached by Aston Mae and Rousseau to date....
Tax Question: My mother has just died and I wish to transfer unused nil rate band from my father who died in 1997 to my mother's IHT/probate. IHT402 Q7 requires the value of my father's estate passing under his will but my father's probate just says: It is hereby certified that it appears from information supplied on the application for this grant that the gross value of the said estate in the United Kingdom does not exceed £180.000 and the net value of such estate does not exceed £25,000. So how do I answer Q7? Similarly, since all my father's assets went to my mother under his will and hence were exempt from IHT, no valuations were performed at the time - either his or their shared assets. So how can I fill out IHT402 Q12 & 13?...
Tax Question: My mother set up a Settlor-interested Trust in January 1986. The main objective was to benefit from the IHT 7-year rule, and take funds out of her estate. This objective has long ago been achieved. I am considering winding up this trust. My question is whether there are any benefits from keeping it in existence. This trust pre-dates the Gifts with Reservation rules, brought in later in 1986. Thus, were my mother to place her residence into the trust, I could see that this could have benefit. But that is not going to happen. It being a Settlor-interested Trust, I guess this could allow my mother to add funds to the trust. But this is not going to happen, either. So, I can see no compelling reason to keep the trust in existence. Is there something I am missing?...