Tolley's Tax Planning for Owner-Managed Businesses 2016-17: (Tolley's Tax Planning Series)

In the current climate, businesses are expecting their advisers to help them make more savings through careful tax planning than ever before. This title enables you to give real-life solutions and guidance on problems faced in every stage of the life-cycle of an owner-managed business. All the key issues are covered in a clear and precise manner, including interaction of different taxes and the Finance Act 2016, to ensure there is a thorough analysis of planning opportunities in each transaction or event. Written by providers of advice to practitioners and their clients, this practical title uses worked examples and case studies to explain tax liabilities, compliance and planning opportunities available for tax mitigation, and as such is essential reading for anyone handling the affairs of owner-managed businesses.

Table of Contents:
Contents Preface Author Biographies Table of statutes Table of statutory instruments Table of cases PART A PLANNING Section I: UK Resident and Domiciled Individuals: use of Offshore Structures as Tax Shelters 1 Offshore trusts 2 Offshore companies 3 Offshore funds 4 Life policies 5 Overview 6 Holding companies 7 Traps and pitfalls 8 Income distributions 9 Capital distributions 10 Planning points in relation to capital distributions 11 Bringing the trust onshore 12 Basic planning 13 Pre-arrival planning 14 Bringing money to the UK 15 Identifying non-UK investments 16 Mitigating tax on UK investments 17 Home ownership 18 Creating offshore settlements 19 Foundations 20 Anticipating UK domicile or deemed domicile 21 General 22 Provision for the settlor 23 Provision for other beneficiaries 24 CGT planning 25 Sheltering business profits 26 Employee benefit trusts 27 Investment in real estate by offshore companies 28 UK houses for non-residents 29 Emigration 30 Migration of trusts 31 Company migration PART B THE DOMESTIC LEGAL FRAMEWORK 32 Characterisation 33 Characterisation of foundations 34 Sham trusts 35 Territorial limits 36 Situs of assets: general rules 37 CGT situs rules 38 Source 39 The residence of individuals 40 Residence of trusts 41 Residence of companies 42 Domicile: general principles 43 Domicile for inheritance tax 44 Eligibility for the remittance basis 45 Long-term residents: the annual charge for the remittance basis 46 Relevant foreign income 47 Foreign chargeable gains 48 Earnings 49 Core meaning of ‘remittance’ 50 Derivation 51 Mixed funds 52 Relevant persons 53 Services provided in the UK 54 Debts relating to property enjoyed in the UK 55 Anti-avoidance provisions: Conditions C and D 56 Business investment relief 57 Other exemptions from tax on remittances 58 The relevant property regime 59 Exceptions to the relevant property regime 60 Excluded property and settlements 61 Excluded property and the relevant property regime 62 UK income of non-residents 63 UK gains of non-residents 64 ATED and ATED related CGT 65 Stamp duty land tax 66 Relevant transfers 67 Transferors 68 Non-transferors 69 The s 733 computation 70 Non-UK domiciliaries 71 The motive defence 72 European defence 73 Attribution of income to the settlor 74 Attribution of gains to the settlor 75 Section 87 76 Capital payments 77 Capital payments and non-UK domiciliaries 78 Trustee borrowing 79 Schedule 4C pools 80 Trust offshore income gains 81 Reservation of benefit rules 82 The IHT treatment of liabilities due from individuals 83 The IHT treatment of liabilities: trusts and reservations of benefit 84 Pre-owned assets 85 The general anti-abuse rule 86 Close companies 87 Corporate gains: section 13 88 Transfer pricing 89 Diverted profits tax 90 Benefits in kind 91 Employment income provided through third parties 92 Offshore funds 93 The regime applicable to life policies 94 Introduction to DTTs 95 Treaty residence 96 Overview of distributive articles 97 Availability of relief 98 Problem entities 99 DTTs and anti-avoidance legislation 100 The fundamental freedoms 101 Impact of the freedoms on anti-avoidance legislation 102 The Liechtenstein Disclosure Facility 103 The UK/Swiss Tax Cooperation Agreement