Practitioners Zone continued
- Article Dates:
- 2007
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Displaying Matches 1 thru 10 of 10 Found.
Dividend waivers can be an effective tool to allow profits to be extracted from a company other than according to the actual shareholdings. This article looks at a sample dividend waiver form and assesses when a dividend waiver can be used effectively to avoid income tax....
Many people want to pass assets and in particular property onto their children. This could be in the hope of avoiding inheritance tax or simply as a means to give children a 'good start' in life. Any transfer of property will however have tax implications and these should be carefully considered. This article looks at the capital gains tax, inheritance tax and stamp duty implications of transfers of both UK and overseas property....
Leaving the UK to sell up and avoid capital gains tax ('CGT') is always a popular area. Of course aside from ensuring you're exempt from CGT in the UK, the other side of the coin is ensuring that you can avoid CGT overseas. This list of countries that have no CGT makes interesting reading. It includes a selection of countries that can be used for general CGT avoidance....
Establishing an overseas domicile of choice when you leave the UK is not straightforward. Here's one option to assist you in demonstrating the required intention to live overseas permanently....
Capital gains tax can represent a big chunk out of your eventual disposal proceeds. Therefore any investments that are CGT exempt offer an immediate advantage over other homes for your cash. In some cases the investment return could be 40% less without impacting on the actual net proceeds. We've therefore put together a quick guide to some of the top CGT exempt assets. Of course CGT isn't the only tax that you'll need to bear in mind....
This article looks at how debts are taxed. Not just family type debts but also trading, company and government debts. It's not just a case of examining the implications if the debt is repaid, but crucially if the debt is not repaid. In other words if you, as a lender lose your cash can you offset that against any other income or gains that you may have, and reduce your tax bill....
For detailed information on making a PPR election see our capital gains tax book, How to Avoid CGt In 2013/2014. If you own two or more properties you may be eligible to make an election to the Revenue to determine which of the properties will qualify for Principal Private Residence ('PPR') relief. This can be a very valuable in terms of reducing capital gains tax as the property that you choose doesn't have to actually be the main residence. This gives great flexibility as it essentially allows you to pick and choose which property will get some PPR relief, so you can ensure that properties with the highest gain qualify for relief. This article includes a sample pro forma Principal Private Residence election for you to fill in and send to the Revenue....
Most people like the thought of living in a sun drenched offshore tax haven such as a Caribbean island - however for many its not too practical given the distance from the UK and the fact they would be away from close family. We've therefore took a quick look at some of the offshore tax havens that are a little closer to the UK....
Given the high rate of divorce (something like 40%) many wealthy individuals about to be married need to carefully consider the impact of a future divorce on their wealth. Although it's preferable to consider these type of issues before any marriage in practical terms this will not be an option for many (and may in fact hasten a costly divorce!). In this article we'll take a brief look at whether and how trusts can be used to shield assets from a money grabbing spouse both before a marriage and also after a marriage has taken place....
Here's something a bit different. Over the past few years a new form of corporate entity has been developed in a number of offshore jurisdictions. Places such as the Seychelles, Bermuda and the Channel Islands have introduced the concept of the segregated or protected cell company. It was primarily designed for the offshore insurance market but for the creative thinkers amongst you, it could be adapted to other situations, such as trading or property investment. We've had a look at some of the possible UK tax and asset protection implications...
Displaying Matches 1 thru 10 of 10 Found