Current popular topics
Moving personal buy to let property portfolios into limited companies
In many cases, we can avoid CGT on the transfer and we can significantly reduce the SDLT to a manageable level. The advantages are lower rates of tax on income retained in the business, avoiding the restrictions on deducting mortgage interest and a tax-free uplift in the capital gains base costs of the properties.
Enterprise Management Incentive (EMI) share option schemes
These have always been useful but are becoming more popular as a tax-efficient way of rewarding senior management as and when there is a future sale or flotation of a company.
Establishing investments within a trading group
As profit extraction schemes tend to be in the risky area of tax avoidance schemes, we question whether company profits need to be extracted at all. In many cases, the profits are used to make investments. We have been assisting companies with accepting a 19% Corporation Tax charge and setting up a structure to use post-tax profits as the seed capital for property and other investments, rather than trying to extract and invest personally.
Inheritance tax planning
We often find that, if we ask clients for their wills, they don’t exist, are old or have been drafted by people who are not experts in Inheritance Tax. We have identified one case where a wealthy lady was going to leave a large share of her estate to her even wealthier daughter rather than going into trust for the family as a whole. Apart form avoiding a double dose of Inheritance Tax, the use of a trust in a will permits much greater sums to be available for school fee planning.
We have also seen two cases where an elderly person can happily give away a half share in the home to an adult child but avoiding gift with reservation problems.
How can we help
We have been dealing with HMRC related troubles for a combined period of over 150 years, having dealt with hundreds of cases both as former HMRC Investigators and assisting and supporting clients in our time in practice. Our clients tell us that they value our extensive knowledge and genuine "hands on" accessible and no nonsense approach to any matter involving HMRC and disputes and difficulties with them.
We operate nationally, or internationally, and are not tied to our desks.
We believe in giving a clear and no nonsense level of support with affordable fees and costs. Our pricing structure is affordable, and we will fix budgets for our engagements avoiding the traditional open-ended, "on the clock" approach of larger firms and our competitors.
To discuss this with us on a non-judgemental, discrete and no-cost basis call our helpline 0800 001 6686 or contact us today.
Leading business, investment and financial magazine Acquisition International recently interviewed Independent Tax owner and managing partner, Gary Brothers about the innerworkings of the company and what sets it apart from its...
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