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Where Taxpayers and Advisers Meet

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by AmanSood
Mon Feb 13, 2017 9:27 am
Forum: Property Taxation
Topic: Directors Loan without any money
Replies: 6
Views: 1369

Re: Directors Loan without any money

1) If I setup a limited company to buy a property from myself which I own (no mortgage) can I wholly fund the purchase using a directors loan, even if no physical money is transferred? Is it just a case of creating a negative number (the loan debt) on the ltd company accounts? I thought only banks w...
by AmanSood
Mon Feb 13, 2017 9:20 am
Forum: Savings & Investments, Pensions & Retirement
Topic: overseas pension advice
Replies: 1
Views: 929

Re: overseas pension advice

The UK/Greece Double tax treaty would exempt the pension from Greek tax but as a UK tax resident your mother-in-law would be taxable on her pension in the UK.
by AmanSood
Fri Feb 10, 2017 2:39 pm
Forum: Income Tax
Topic: Can I offset personal losses against a limited company
Replies: 2
Views: 1561

Re: Can I offset personal losses against a limited company

unfortunately not. You can however carry forward your losses and offset against any profits arising in future accounting periods. Good luck!
by AmanSood
Fri Feb 10, 2017 8:23 am
Forum: Income Tax
Topic: Tax Query
Replies: 2
Views: 1323

Re: Tax Query

Just to also expand, there are a few other considerations. 1) Assuming you are operating out of an office in the US and have an establishment in the US, then it's likely you would need to set up a payroll in the US and withhold taxes/FICA/medicare; 2) also there could be potential corporate tax impl...
by AmanSood
Fri Feb 10, 2017 8:18 am
Forum: Savings & Investments, Pensions & Retirement
Topic: US held stock options - tax position
Replies: 1
Views: 906

Re: US held stock options - tax position

Hi Jon, the simple answer is no. The stock you are receiving I assume is by reason of your employment in the Group (US parent with a UK subsidiary) so exercising your stock options is no different to getting for example a bonus which is taxable in the UK as it has been earned in the UK. One point wh...
by AmanSood
Fri Feb 10, 2017 8:14 am
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Tax code calculation
Replies: 1
Views: 780

Re: Tax code calculation

Hi, without actually reviewing your total earnings in each of the last few tax years, its impossible to work out whether your tax code is correct and calling HMRC as you have found is unlikely to help. Only option would be to get an advisor to review the position but you would have to weigh up the c...
by AmanSood
Wed Feb 08, 2017 11:07 am
Forum: International Tax
Topic: CGT on VCT investments - resident abroad
Replies: 1
Views: 533

Re: CGT on VCT investments - resident abroad

Need more info but at a high level as an Ireland Tax resident you would be taxable on your worldwide income. An exception to this is if you are not domiciled in Ireland (e.g. were not born there or not moving permanently to Ireland) then you would only be taxed on the capital gains if the income is ...
by AmanSood
Wed Feb 08, 2017 10:02 am
Forum: Property Taxation
Topic: Capital Gains Tax
Replies: 2
Views: 748

Re: Capital Gains Tax

you should declare you rental income irrespective of whether or not you sell your property. The capital gains tax treatment will depend on how long you lived in the property, why you rented it out etc but likely there may be some CGT to pay on disposal.
by AmanSood
Wed Feb 08, 2017 9:58 am
Forum: International Tax
Topic: German Early Retirement Scheme
Replies: 5
Views: 755

Re: German Early Retirement Scheme

Unfortunately I would agree with HMRC. As a UK tax resident, the UK would have taxing rights under the double tax treaty. Likewise, in Germany, on the basis that the pension contributions have been tax relieved i.e. you haven't paid any German tax on these (assuming this is fore more than 15yrs in G...
by AmanSood
Wed Feb 08, 2017 9:52 am
Forum: International Tax
Topic: loan to offshore company and tax implications
Replies: 2
Views: 769

Re: loan to offshore company and tax implications

There are going to be both US corporate tax and UK corporate/income tax implications. From a US perspective, operating a US company, you would have to declare any profits made on the investments/rental/gains on disposal etc and pay corporation tax in the US. Likewise from a UK perspective, as you wi...

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