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Where Taxpayers and Advisers Meet

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by AnthonyR
Fri Mar 08, 2019 12:22 pm
Forum: International Tax
Topic: NRIs and Double Taxation between India and UK
Replies: 7
Views: 5553

Re: NRIs and Double Taxation between India and UK

First things first - this is a complex area and she shouldn't rely on info from a forum. She should take paid for professional advice (the below is a rough outline of the position - certainly not advice): 1a. IHT is charged on the estate of the deceased. So the question is whether the person they in...
by AnthonyR
Fri Mar 08, 2019 12:00 pm
Forum: General
Topic: Transfer money from my savings aboard to my UK account
Replies: 3
Views: 4617

Re: Transfer money from my savings aboard to my UK account

If this was your cash which resulting from work and sale of the property when you were not UK resident then there's no tax issues and you will be able to bring it into the UK free of tax. However, if you sold the property while resident in the UK and the property wasn't your home throughout (ie a re...
by AnthonyR
Wed Mar 06, 2019 10:47 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Family Home IHT
Replies: 1
Views: 296

Re: Family Home IHT

If you sold the property at market value (I assume to a family member) and then leased it back from them at market value this should not cause any complications from an IHT point of view. I assume you would then gift some of the proceeds of sale to start to reduce your IHT exposure? The Hood case wa...
by AnthonyR
Wed Mar 06, 2019 10:23 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Will Trusts
Replies: 9
Views: 608

Re: Will Trusts

The trust in question could be one of two options, either a life interest trust or a discretionary trust. If it's a life interest trust then there's no IHT on first death as the life interest is treated as part of their estate. No need to loan assets out as the surviving spouse has the right to use ...
by AnthonyR
Mon Mar 04, 2019 10:13 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT
Replies: 6
Views: 517

Re: IHT

1. Good to know that a trust is likely to fail the cost of care, and might incur large CGT. Trusts will usually allow you to defer the CGT, but you lose the opportunity of a CGT uplift on their death. Putting all your assets into trust is likely to be seen as deliberate deprivation of capital and ch...
by AnthonyR
Mon Mar 04, 2019 9:46 am
Forum: Savings & Investments, Pensions & Retirement
Topic: Can one member take their share of a ssas
Replies: 1
Views: 4588

Re: Can one member take their share of a ssas

You can transfer your share out into another registered scheme and leave your partner in as the sole member. Just be aware that there may be complications where the SSAS holds joint assets as your share will need to be transferred into the new scheme.
by AnthonyR
Mon Feb 25, 2019 11:34 am
Forum: Business Tax
Topic: Best company structure for Legal Tax Avoidance - New Company
Replies: 4
Views: 2241

Re: Best company structure for Legal Tax Avoidance - New Company

Not sure what the previous posters are concerned about, if you structure things correctly what you're looking to do is perfectly legal. If you become non resident in the UK and don't undertake any UK based work then you are not subject to UK tax... except if you have a UK company (which will always ...
by AnthonyR
Wed Feb 20, 2019 12:06 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Solicitors for Flexible Life Interest Trust
Replies: 1
Views: 305

Re: Solicitors for Flexible Life Interest Trust

Are you talking about a Will incorporating a FLIT or a lifetime settlement of an interest in possession trust? While you can set up a trust which functionally provides a life interest during lifetime it's still considered a relevant property trust unless meets certain criteria (set up for a bereaved...
by AnthonyR
Sun Feb 17, 2019 4:39 pm
Forum: VAT & Excise Duties
Topic: VAT is taking it’s toll on ‘holiday let’ business – is there any way to reduce this?
Replies: 5
Views: 572

Re: VAT is taking it’s toll on ‘holiday let’ business – is there any way to reduce this?

It may be time to let one of the properties go and then reduce our income to under the threshold. The worry there is that there appears to be rumours that the threshold is going to be reduced. It's been debated for a while. The issue is that across most of Europe VAT registration thresholds are gen...
by AnthonyR
Tue Feb 12, 2019 2:28 pm
Forum: VAT & Excise Duties
Topic: VAT is taking it’s toll on ‘holiday let’ business – is there any way to reduce this?
Replies: 5
Views: 572

Re: VAT is taking it’s toll on ‘holiday let’ business – is there any way to reduce this?

Is it an option to let one or more of the properties on long terms lets, which brings your taxable supplies below the de-registration threshold (£83k) and then come out of VAT altogether? Disclaimer - I'm not a VAT adviser - so hopefully someone with more VAT experience can point out the issues with...

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