Thinking of setting up in the UK but unsure on the things to consider? Our quick guide narrows it down to 10 easy steps!
For further information and advice, please contact gabi.olson-welsh@ocsolicitors.com, or 020 7067 4300.
This document discusses moving assets offshore to protect wealth and secure inheritance through a Qualifying Non-UK Pension (QNUPS) Trust structure. It outlines some of the tax issues with holding assets in the UK, such as capital gains tax, property tax, and inheritance tax. The document then presents the QNUPS Trust as a solution, explaining how it provides estate protection, wealth creation, and avoids UK taxes when assets are held offshore. It provides comparisons of different structures for holding UK property and asserts that a QNUPS Trust is the best option. The document aims to reassure on the legality and credibility of this strategy and outlines the benefits for both clients and HMRC.
The Tender Trap (or - I haven\'t got time to write tenders, I\'m too busy try...richardporter
- Small companies should bother submitting tenders because there are opportunities for repeat work and contracts that are sympathetic to small- and medium-sized enterprises. Government targets require 25% of contracts be awarded to SMEs.
- While the tendering process may seem complicated, there are resources available to help small businesses, and contracts under £64,000 can have an informal process. Buyers also see advantages in working with SMEs like better value and innovation.
- Opportunities are widely publicized through various websites and portals, contradicting the idea that one needs insider connections to learn about contracts. Pursuing tenders requires initial investment but there are ways to improve odds of winning.
Foreign investors are entitled to the repatriation of profits deriving from business activities carried out in Ireland. Our team of Irish lawyers can advise on this subject at https://www.lawyersireland.eu/.
The document discusses key tax points from the recent UK budget, including an increase in employers' national insurance contributions to 13.8% and a reduction in the annual investment allowance from £100k to £25k. It also discusses the advantages of using flat rate VAT for contractors with turnovers under £150k, and how contractors can save thousands in taxes by structuring their pay efficiently, such as paying up to the national insurance threshold of £5,715 and taking the rest as dividends. The document encourages visiting the Crunch.co.uk website for more information and tax calculation tools.
This document outlines the benefits of using Ireland as a holding company location, including its extensive tax treaty network, favorable tax treatment of dividends and intellectual property, lack of withholding taxes, and capital gains tax exemptions. Ireland provides foreign tax credits and exemptions from dividend withholding tax. It also offers a 25% tax credit for qualifying research and development expenditures. Companies are considered Irish tax residents if incorporated in Ireland or centrally managed and controlled in Ireland.
Ireland is an advantageous location for holding companies, due to:
- Favourable tax treatment of dividend income;
- No Withholding Tax on dividends from Irish Holding Company to EU / tax treaty countries;
- No Capital Gains Tax on disposal of shareholdings in subsidiaries;
- Favourable tax regime for R&D / intangibles;
- Tax deductions for interest on borrowings;
- Favourable Withholding Tax regime for interest and royalty payments
- & more...
This document provides information about Gresham Street Partners' wealth creation platform, which utilizes a Qualifying Non-UK Pension (QNUPS) Trust structure. It outlines problems with the UK system like capital gains tax, property taxes, inheritance tax and pension inflexibility. The QNUPS Trust is presented as a solution that avoids these issues and allows assets to grow tax-free. Tables show the tax benefits for both clients and HMRC over time. The document also details how the investments are managed, who the trustees are, and that funds can be accessed from age 55 if living in the UK.
As part of its wider Brexit offering, BDO provides AEO application support, which is tailored to our clients’ specific needs. This flyer summarises the benefits of AEO and how we can assist you.
This document discusses moving assets offshore to protect wealth and secure inheritance through a Qualifying Non-UK Pension (QNUPS) Trust structure. It outlines some of the tax issues with holding assets in the UK, such as capital gains tax, property tax, and inheritance tax. The document then presents the QNUPS Trust as a solution, explaining how it provides estate protection, wealth creation, and avoids UK taxes when assets are held offshore. It provides comparisons of different structures for holding UK property and asserts that a QNUPS Trust is the best option. The document aims to reassure on the legality and credibility of this strategy and outlines the benefits for both clients and HMRC.
The Tender Trap (or - I haven\'t got time to write tenders, I\'m too busy try...richardporter
- Small companies should bother submitting tenders because there are opportunities for repeat work and contracts that are sympathetic to small- and medium-sized enterprises. Government targets require 25% of contracts be awarded to SMEs.
- While the tendering process may seem complicated, there are resources available to help small businesses, and contracts under £64,000 can have an informal process. Buyers also see advantages in working with SMEs like better value and innovation.
- Opportunities are widely publicized through various websites and portals, contradicting the idea that one needs insider connections to learn about contracts. Pursuing tenders requires initial investment but there are ways to improve odds of winning.
Foreign investors are entitled to the repatriation of profits deriving from business activities carried out in Ireland. Our team of Irish lawyers can advise on this subject at https://www.lawyersireland.eu/.
The document discusses key tax points from the recent UK budget, including an increase in employers' national insurance contributions to 13.8% and a reduction in the annual investment allowance from £100k to £25k. It also discusses the advantages of using flat rate VAT for contractors with turnovers under £150k, and how contractors can save thousands in taxes by structuring their pay efficiently, such as paying up to the national insurance threshold of £5,715 and taking the rest as dividends. The document encourages visiting the Crunch.co.uk website for more information and tax calculation tools.
This document outlines the benefits of using Ireland as a holding company location, including its extensive tax treaty network, favorable tax treatment of dividends and intellectual property, lack of withholding taxes, and capital gains tax exemptions. Ireland provides foreign tax credits and exemptions from dividend withholding tax. It also offers a 25% tax credit for qualifying research and development expenditures. Companies are considered Irish tax residents if incorporated in Ireland or centrally managed and controlled in Ireland.
Ireland is an advantageous location for holding companies, due to:
- Favourable tax treatment of dividend income;
- No Withholding Tax on dividends from Irish Holding Company to EU / tax treaty countries;
- No Capital Gains Tax on disposal of shareholdings in subsidiaries;
- Favourable tax regime for R&D / intangibles;
- Tax deductions for interest on borrowings;
- Favourable Withholding Tax regime for interest and royalty payments
- & more...
This document provides information about Gresham Street Partners' wealth creation platform, which utilizes a Qualifying Non-UK Pension (QNUPS) Trust structure. It outlines problems with the UK system like capital gains tax, property taxes, inheritance tax and pension inflexibility. The QNUPS Trust is presented as a solution that avoids these issues and allows assets to grow tax-free. Tables show the tax benefits for both clients and HMRC over time. The document also details how the investments are managed, who the trustees are, and that funds can be accessed from age 55 if living in the UK.
As part of its wider Brexit offering, BDO provides AEO application support, which is tailored to our clients’ specific needs. This flyer summarises the benefits of AEO and how we can assist you.
With Brexit almost here, businesses may think that they have run out of time to achieve Authorised Economic Operator (‘AEO’) accreditation. But, regardless of the future EU/UK trade relationship, AEO accreditation is likely to remain a ‘must have’ for many businesses.
HMRC has been targeting the motor retail industry for VAT compliance in three key areas: partial exemption, the Capital Goods Scheme, and VAT recovery on deal costs. Partial exemption calculations may require restriction if exempt income like finance commissions exceed 1% of turnover. The Capital Goods Scheme requires reviewing refurbishment costs annually for VAT recovery adjustments. HMRC has also focused on VAT recovery for costs related to acquiring or disposing of businesses. Errors in these areas can result in penalties if not voluntarily disclosed to HMRC within four years. RSM's VAT team can assist with compliance reviews, calculations, negotiating methods, and managing HMRC queries.
International Tax For SMEs September 2011 Abbreviatedsarogers99
These slides were used in a presentation given to attendees at a recent UKTI / Natwest / Francis Clark LLP seminar in Salisbury - How to Open Up New Markets Overseas.
Following approval of the State Budget for 2014 by the Portuguese Assembly of the Republic and the reform of the corporate income tax, various changes have been made to the Portuguese tax regime, some of them of relevance to the International Business Centre of Madeira (IBCM). This presentation highlights the most relevant changes and its impact on the Madeira tax regime. Updated: January 30, 2014.
Brexit - Trade and Supply Chain Implications - BDOJulietWallwork
What will be the Brexit implications for your supply chain?
EU Versus Global Supply Chains - Immediate Steps
Developing a Brexit Strategy - Longer Term Planning
US desk quarterly newsletter - December 2016 editionVesko Petkov
This document summarizes tax law changes and initiatives across several European countries. It discusses proposed changes to dividend withholding tax rules and hybrid mismatch rules in the Netherlands. For Ireland, it outlines the new Knowledge Development Box tax regime. For Luxembourg, it discusses corporate tax rate reductions and increased transparency requirements around country-by-country reporting and transfer pricing rules. For Germany, it previews potential amendments to tax laws around real estate entities and losses. The UK section forecasts tax implications for multinationals from its upcoming autumn statement.
Brexit - Trade & Supply Chain Implications for the Manufacturing SectorJulietWallwork
Manufacturers should take steps to protect their supply chains against the potentially adverse effects of Brexit. BDO sets out immediate steps you should take to prepare for the EU Exit.
This document provides guidance for manufacturers on preparing their supply chains for Brexit. It recommends immediate steps like registering with HMRC as an importer/exporter and applying for customs accounts. It also suggests longer term steps such as reviewing contracts, customs procedures, and supply chains to identify potential cost increases and mitigate these through duty reliefs and simplifications. The document promotes applying for AEO status which offers benefits like fast customs clearance and recognition with trade partners. BDO specialists are listed who can assist manufacturers with Brexit supply chain implications.
The document outlines 7 methods for legally avoiding property tax:
1. Capital gains tax exemptions for principal private residences and partial letting exemptions.
2. Claiming repairs and maintenance as expenses to reduce taxable profits rather than improvements which reduce capital gains.
3. Using intermediaries like letting agencies to divert rental profits to lower-tax entities.
4. Claiming interest deductions on mortgages and loans related to investment properties.
5. Strategies for avoiding stamp duty land tax, though some may no longer be valid after recent changes.
6. Claiming capital allowances for properties with communal facilities like houses of multiple occupancy.
7. Hiring a
The document discusses upcoming changes to the tax treatment of termination payments in the UK. Specifically:
1) From April 2018, payments in lieu of notice (PILONs) will be treated as earnings rather than termination payments, making them subject to income tax and national insurance contributions.
2) The £30,000 income tax exemption for termination payments will remain, as will the unlimited NICs exemption for certain termination-related payments like redundancy. However, PILONs and payments over £30,000 will be subject to employer NICs.
3) Changes to make employers liable for Class 1A NICs on termination payments over £30,000 were delayed by one year and will now take
The document summarizes hot topics related to VAT (Value Added Tax) in the UK, including:
1) VAT registration requirements and thresholds for compulsory and voluntary registration.
2) Schemes for flat rate, cash accounting and annual accounting VAT payments that provide benefits for small businesses.
3) Rules around VAT liability, rates, discounts, bad debt relief and voluntary disclosures.
4) Future changes including a potential VAT rate increase and complex areas like property and services.
This document provides an overview of R&D tax credits in the UK. Some key points:
- R&D tax credits incentivize companies to invest in innovative technology by providing tax relief of up to 32% of qualifying R&D costs.
- Both profitable and unprofitable companies can claim tax credits, either as a reduction in taxes owed or as a cash refund.
- Qualifying costs include direct labor, external staff, subcontracted R&D work, and consumables used in R&D projects.
- To qualify for credits, projects must involve technical uncertainty that a competent professional could not easily resolve.
This document provides information on investing and locating businesses in the UK. It discusses the UK's economic context, how to register and choose a legal structure for a business, available financial support programs, taxation details, intellectual property protections, and recommended locations for technology and innovation zones. Specific organizations like UK Trade and Investment are highlighted as resources for international companies seeking to invest or expand in the UK.
Our Spring Tax Update will be taking place across the region between the 8th and 10th March 2017.
The update will include the following:
•An update on the latest HMRC consultations
•Analysis of the tax announcements in the 2017 Budget
•A review of the current property tax environment
•The latest on Making Tax Digital and interaction with cloud accounting
DMIEXPO - Arosal - Where To Hold Your IP: The A To Z Guide For Digital MarketersMorning Dough
Arosal will walk you through the challenges and pitfalls which characterize the global tax scene post-BEPS, specifically as regards IP Boxes and the so-called ‘Nexus’ approach. We shall walk you through the process of registering and protecting your IP, whilst designing a robust international structure which will stand up to any BEPS-related challenge.
Furthermore, Arosal will outline the services which you will require, and the process through which these will be obtained regarding the implementation of your structure, whilst focusing on the tax optimization of the group’s entire structure as concerns all types of taxes. Finally, we shall discuss the administration of your international structure, and comment on the way forward in the global market place.
Our Spring Tax Updates will be taking place across the region in March 2018.
The update will include the following:
• Comment on the latest legislative changes
• Provide practical advice
• Help to prepare for the end of the tax year
• Give thoughts on the current tax policy
This document summarizes several topics from a newsletter:
1) It introduces Investors' Relief, which provides a 10% capital gains tax rate for investments in unlisted trading companies held for at least 3 years, similar to Entrepreneurs' Relief. Investors' Relief may benefit non-working investors and companies seeking capital as an alternative to EIS/SEIS.
2) It outlines the key eligibility criteria for Investors' Relief, including requirements for the shares, holding period, and that the shares must be newly issued.
3) It notes that while Investors' Relief and Entrepreneurs' Relief are similar, Investors' Relief is designed for non-working investors rather than shareholders
The document discusses reviewing estate plans in light of the introduction of the Residence Nil-Rate Band (RNRB), which provides an additional inheritance tax exemption for passing on a family home. Key points:
- The RNRB provides an additional £100,000 inheritance tax exemption in 2017/18, rising to £175,000 by 2020/21, for passing on a family home or downsizing.
- Up to £1 million of a married couple's estate could eventually be exempt from inheritance tax if both nil-rate bands and the RNRB are fully utilized.
- Reviewing estate plans is important to ensure the RNRB exemption can be claimed by passing the family home to direct descendants
1. The document provides a summary of the top 10 tax tips, including reductions to the annual investment allowance and capital allowances rates, changes to company car tax rates based on emissions levels, increases to R&D tax relief rates, and changes to penalties for late self-assessment tax returns.
2. It outlines reforms to entrepreneurs' relief, the introduction of a multiple dwellings relief for stamp duty land tax, and increases to the annual ISA allowance limit.
3. The tips cover issues like salary vs. dividends, the IR35 rules around personal service companies, and income shifting between spouses.
Residential property can be a lucrative business, but profits or gains will be subject to tax. In this post we discuss some of the property tax planning options, including using limited companies or LLPs, trading vs investment property, capital gains tax and entrepreneurs relief.
With Brexit almost here, businesses may think that they have run out of time to achieve Authorised Economic Operator (‘AEO’) accreditation. But, regardless of the future EU/UK trade relationship, AEO accreditation is likely to remain a ‘must have’ for many businesses.
HMRC has been targeting the motor retail industry for VAT compliance in three key areas: partial exemption, the Capital Goods Scheme, and VAT recovery on deal costs. Partial exemption calculations may require restriction if exempt income like finance commissions exceed 1% of turnover. The Capital Goods Scheme requires reviewing refurbishment costs annually for VAT recovery adjustments. HMRC has also focused on VAT recovery for costs related to acquiring or disposing of businesses. Errors in these areas can result in penalties if not voluntarily disclosed to HMRC within four years. RSM's VAT team can assist with compliance reviews, calculations, negotiating methods, and managing HMRC queries.
International Tax For SMEs September 2011 Abbreviatedsarogers99
These slides were used in a presentation given to attendees at a recent UKTI / Natwest / Francis Clark LLP seminar in Salisbury - How to Open Up New Markets Overseas.
Following approval of the State Budget for 2014 by the Portuguese Assembly of the Republic and the reform of the corporate income tax, various changes have been made to the Portuguese tax regime, some of them of relevance to the International Business Centre of Madeira (IBCM). This presentation highlights the most relevant changes and its impact on the Madeira tax regime. Updated: January 30, 2014.
Brexit - Trade and Supply Chain Implications - BDOJulietWallwork
What will be the Brexit implications for your supply chain?
EU Versus Global Supply Chains - Immediate Steps
Developing a Brexit Strategy - Longer Term Planning
US desk quarterly newsletter - December 2016 editionVesko Petkov
This document summarizes tax law changes and initiatives across several European countries. It discusses proposed changes to dividend withholding tax rules and hybrid mismatch rules in the Netherlands. For Ireland, it outlines the new Knowledge Development Box tax regime. For Luxembourg, it discusses corporate tax rate reductions and increased transparency requirements around country-by-country reporting and transfer pricing rules. For Germany, it previews potential amendments to tax laws around real estate entities and losses. The UK section forecasts tax implications for multinationals from its upcoming autumn statement.
Brexit - Trade & Supply Chain Implications for the Manufacturing SectorJulietWallwork
Manufacturers should take steps to protect their supply chains against the potentially adverse effects of Brexit. BDO sets out immediate steps you should take to prepare for the EU Exit.
This document provides guidance for manufacturers on preparing their supply chains for Brexit. It recommends immediate steps like registering with HMRC as an importer/exporter and applying for customs accounts. It also suggests longer term steps such as reviewing contracts, customs procedures, and supply chains to identify potential cost increases and mitigate these through duty reliefs and simplifications. The document promotes applying for AEO status which offers benefits like fast customs clearance and recognition with trade partners. BDO specialists are listed who can assist manufacturers with Brexit supply chain implications.
The document outlines 7 methods for legally avoiding property tax:
1. Capital gains tax exemptions for principal private residences and partial letting exemptions.
2. Claiming repairs and maintenance as expenses to reduce taxable profits rather than improvements which reduce capital gains.
3. Using intermediaries like letting agencies to divert rental profits to lower-tax entities.
4. Claiming interest deductions on mortgages and loans related to investment properties.
5. Strategies for avoiding stamp duty land tax, though some may no longer be valid after recent changes.
6. Claiming capital allowances for properties with communal facilities like houses of multiple occupancy.
7. Hiring a
The document discusses upcoming changes to the tax treatment of termination payments in the UK. Specifically:
1) From April 2018, payments in lieu of notice (PILONs) will be treated as earnings rather than termination payments, making them subject to income tax and national insurance contributions.
2) The £30,000 income tax exemption for termination payments will remain, as will the unlimited NICs exemption for certain termination-related payments like redundancy. However, PILONs and payments over £30,000 will be subject to employer NICs.
3) Changes to make employers liable for Class 1A NICs on termination payments over £30,000 were delayed by one year and will now take
The document summarizes hot topics related to VAT (Value Added Tax) in the UK, including:
1) VAT registration requirements and thresholds for compulsory and voluntary registration.
2) Schemes for flat rate, cash accounting and annual accounting VAT payments that provide benefits for small businesses.
3) Rules around VAT liability, rates, discounts, bad debt relief and voluntary disclosures.
4) Future changes including a potential VAT rate increase and complex areas like property and services.
This document provides an overview of R&D tax credits in the UK. Some key points:
- R&D tax credits incentivize companies to invest in innovative technology by providing tax relief of up to 32% of qualifying R&D costs.
- Both profitable and unprofitable companies can claim tax credits, either as a reduction in taxes owed or as a cash refund.
- Qualifying costs include direct labor, external staff, subcontracted R&D work, and consumables used in R&D projects.
- To qualify for credits, projects must involve technical uncertainty that a competent professional could not easily resolve.
This document provides information on investing and locating businesses in the UK. It discusses the UK's economic context, how to register and choose a legal structure for a business, available financial support programs, taxation details, intellectual property protections, and recommended locations for technology and innovation zones. Specific organizations like UK Trade and Investment are highlighted as resources for international companies seeking to invest or expand in the UK.
Our Spring Tax Update will be taking place across the region between the 8th and 10th March 2017.
The update will include the following:
•An update on the latest HMRC consultations
•Analysis of the tax announcements in the 2017 Budget
•A review of the current property tax environment
•The latest on Making Tax Digital and interaction with cloud accounting
DMIEXPO - Arosal - Where To Hold Your IP: The A To Z Guide For Digital MarketersMorning Dough
Arosal will walk you through the challenges and pitfalls which characterize the global tax scene post-BEPS, specifically as regards IP Boxes and the so-called ‘Nexus’ approach. We shall walk you through the process of registering and protecting your IP, whilst designing a robust international structure which will stand up to any BEPS-related challenge.
Furthermore, Arosal will outline the services which you will require, and the process through which these will be obtained regarding the implementation of your structure, whilst focusing on the tax optimization of the group’s entire structure as concerns all types of taxes. Finally, we shall discuss the administration of your international structure, and comment on the way forward in the global market place.
Our Spring Tax Updates will be taking place across the region in March 2018.
The update will include the following:
• Comment on the latest legislative changes
• Provide practical advice
• Help to prepare for the end of the tax year
• Give thoughts on the current tax policy
This document summarizes several topics from a newsletter:
1) It introduces Investors' Relief, which provides a 10% capital gains tax rate for investments in unlisted trading companies held for at least 3 years, similar to Entrepreneurs' Relief. Investors' Relief may benefit non-working investors and companies seeking capital as an alternative to EIS/SEIS.
2) It outlines the key eligibility criteria for Investors' Relief, including requirements for the shares, holding period, and that the shares must be newly issued.
3) It notes that while Investors' Relief and Entrepreneurs' Relief are similar, Investors' Relief is designed for non-working investors rather than shareholders
The document discusses reviewing estate plans in light of the introduction of the Residence Nil-Rate Band (RNRB), which provides an additional inheritance tax exemption for passing on a family home. Key points:
- The RNRB provides an additional £100,000 inheritance tax exemption in 2017/18, rising to £175,000 by 2020/21, for passing on a family home or downsizing.
- Up to £1 million of a married couple's estate could eventually be exempt from inheritance tax if both nil-rate bands and the RNRB are fully utilized.
- Reviewing estate plans is important to ensure the RNRB exemption can be claimed by passing the family home to direct descendants
1. The document provides a summary of the top 10 tax tips, including reductions to the annual investment allowance and capital allowances rates, changes to company car tax rates based on emissions levels, increases to R&D tax relief rates, and changes to penalties for late self-assessment tax returns.
2. It outlines reforms to entrepreneurs' relief, the introduction of a multiple dwellings relief for stamp duty land tax, and increases to the annual ISA allowance limit.
3. The tips cover issues like salary vs. dividends, the IR35 rules around personal service companies, and income shifting between spouses.
Residential property can be a lucrative business, but profits or gains will be subject to tax. In this post we discuss some of the property tax planning options, including using limited companies or LLPs, trading vs investment property, capital gains tax and entrepreneurs relief.
Our Spring Tax Updates will be taking place across the region in March 2018.
The update will include the following:
• Comment on the latest legislative changes
• Provide practical advice
• Help to prepare for the end of the tax year
• Give thoughts on the current tax policy
Fenin en colaboración con el departamento comercial UK Trade and Investment, de la Embajada británica en Madrid, han organizado un foro empresarial dirigido al sector de tecnología sanitaria, con el objetivo de evaluar los sistemas de compras de los sistemas sanitarios de España y Reino Unido (NHS), y conocer las oportunidades de negocio que el NHS representa para empresas españolas de tecnología sanitaria.
Presenter - Simon Cook Company - SRC Accountancy Services Ltd
The area of tax for businesses is not straightforward, in fact it can be a real minefield for business owners. However, if you take a little time, and work with your accountant, it’s usually possible to find ways to save some tax.
This document provides an overview of setting up a business in the UK. It discusses that it is easy and inexpensive to set up a limited company, with a minimum share capital of £1. The UK has relatively low taxes and flexible employment laws that make it pro-business. When setting up, companies should consider whether to establish as a subsidiary or branch. Limited companies are strongly recommended over partnerships due to future tax uncertainty. The document also outlines the tax rates for corporations and various tax reliefs available including R&D tax credits, the Patent Box, EIS, and SEIS.
Our Spring Tax Updates will be taking place across the region in March 2018.
The update will include the following:
• Comment on the latest legislative changes
• Provide practical advice
• Help to prepare for the end of the tax year
• Give thoughts on the current tax policy
Reviewing contracts swiftly and efficiently is crucial for any organization. It ensures compliance, reduces risks, and keeps business operations running smoothly.
The presentation deals with the concept of Right to Default Bail laid down under Section 167 of the Code of Criminal Procedure 1973 and Section 187 of Bharatiya Nagarik Suraksha Sanhita 2023.