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Property Taxation

April 27, 2016 Jeremy Mindell

Since the General Election, investment property has been hit with a series of measures designed to increase the tax take from property income.

This course looks at the impact of the changes as a result of

The restrictions in mortgage tax relief
The new rules on dividends
The increasing charge on enveloped dwellings
Capital Gains Tax on non-residence
Abolition of wear-and-tear allowance
The new family home allowance for IHT
The new 3% surcharge on stamp duty land tax on buy to let properties
The new rules making all UK properties subject to Inheritance Tax
Use of REITS
The revival of Furnished Holiday Lettings

It is clear that property is bearing the brunt of the tax increases as it is not included in the triple-lock which stop tax rises which is effective for this parliament.

These tax rises should encourage a rethink in property tax strategies. The course looks at traditional property tax strategies and sees how they should be adapted for the new circumstances.

In particular, the course will look at incorporation relief and its relevance to property businesses.

Lectures

Property Course

April 21, 2016 Jeremy Mindell

The course will cover recent developments in Property taxation particularly since the May General Election. It will also look at the special rules that cover transactions in land and property. It will also look at recent case law and international developments, including the new disclosure requirements under FATCA and other asset disclosure legislation

It will also focus on investment in UK property covering both investment from within and outside the UK. (Half UK; half overseas)

UK half to cover:

incorporation relief,
transactions in land,
SDLT,
use of different ownership vehicles for property matters
CGT planning

Overseas half to cover:

ATED,
CGT for non-UK residents,
SDLT,
IHT and other matters
The operation of Double Tax Treaties on property

Lectures

Overseas Tax Issues Outline

April 19, 2016 Jeremy Mindell

The impact of UK tax and double tax treaties on those leaving or entering the UK as well as investors in and outside the UK

The course will cover the treatment of those coming into the UK and those leaving the UK. The past five years have seen more changes to the taxation of internationally mobile persons than has occurred in the past 200 years. The introduction of a statutory residence test and the changes to domicile as well as the European Social Security agreement, overseas workday relief and the abolition of ordinary residence has created both new opportunities and pitfalls for those who move in or outside the UK, as well as those investing in it. In addition the enhanced exchange of information cooperation between tax authorities means that the net is closing in on those who seek to evade taxes as well as more innocent parties.

Moreover, the Government has made clear its determination to tax non-residents on the gains from residential property and is introducing CGT for non-resident on UK property with effect from 6 April 2015. This comes on top of the ATED charge and the additional charge for non-natural persons. Given the size of the deficit, these pressures are unlikely to abate soon.

The course first examines the impact of UK domestic tax law on those entering and leaving the UK.

The course will start by looking at increasing reach of UK taxation for those who are not resident in the UK, and may be dual resident. As the previously generous exemptions for capital gains tax for non-residents have been eroded, we will look at the position of non-UK resident investors and those who are trading the United Kingdom.

For those who are arriving in the UK, one will look at the point at which taxation starts and ends and the potential reliefs which are available for those who are temporarily seconded to the UK. This will include an examination of the detached duty relief rules. We will examine the residence rules to see at what point an individual becomes resident in the UK and the potential opportunities and risks, which the new statutory residence tests impose on those who come to the UK.

The course will also examine the recent changes to domicile and the opportunities which still remain for those who are non-UK domiciled as well as the impact of the substantial increase in the UK personal allowance.

The course will then cover the issues and opportunities which taxation treaties give to both individuals and companies. It will also look at the potential Social Security (NIC) savings that arise from the use of Social Security agreements.

Finally in this section, the course will look at the compliance obligations, tax return and information requirements which are imposed by both the UK and overseas authorities.

What income can be excluded from tax returns and when you can claim UK personal allowances?

The second section will look at the position of those who are leaving the UK and the domestic law considerations. These will cover the change of status to non-residents and its implications, residual tax liabilities for those who leave the UK and their compliance obligations, including filing tax returns. It will also cover the Social Security position of those who are seconded abroad.

The course will look at the operation of double tax agreements and their effects on overseas income which is derived by a resident in the UK. This will include understanding how double tax treaties affect overseas tax relief on overseas income, using DTR or ‘by deduction’, 10% deductions on overseas pensions, how residence and domicile affect UK tax, how residence is decided and how tax treaties impact on this.

Finally one needs to look at HMRC activity in this area and the recent case law developments.

Introduction
The long arm of the taxman—taxing non-residents on income and gains
Residence– the new Statutory Residence Test
The new domicile regime
Reliefs-Overseas Workdays and Detached Duty relief
Leaving the UK—shaking off UK residence
Post residence taxation on income and gains
Who should use Double Tax Treaties and when?
Interpreting Double Taxation Treaties
Social Security agreements and NIC
Compliance – when do returns need to be filed and tax withheld?
Anti-avoidance developments
Double Tax Treaties and Employment Income
Double Tax Treaties and Pensions
HMRC activity
Recent case law
OECD BEPs Report
Illustrative case study

Lectures

Lifetime Tax Planning

April 14, 2016 Jeremy Mindell

This course is designed for anyone who has personal tax clients.

This course goes through the lifecycle from cradle to grave examining the tax planning issues which advisors may wish to raise with their clients.

The course includes discussions regarding :-

Minor children

Tax efficient investments
Settlements and trusts
The removal of child benefit
The use of the personal allowance
Spreading wealth around the family
Saving for education
Childcare – tax efficiently

Young adults

University
Starting work
Debt management
Starting your own company

Marriage

Children
Property
Divorce
A spell abroad
Re-marriage

Middle Age

Empty nesters
Surplus assets
Capital gains
Tax efficient investments
Pension planning

Senior

IHT planning
Wills
Generation skipping
Non residence

The course is designed to provide useful information for those clients who ask “Is there anything I should be doing to manage my taxes?”

The course will look at planning which may be valuable and pitfalls for the unwary.

Lectures

OMB Tax Planning – Opportunities, Myths & Blunders

April 11, 2016 Jeremy Mindell

This course is suitable for all professionals who deal with owner managed businesses.

The course deals with a business from its start until its disposal (hopefully for a large capital sum!)

The Beginning

Obtaining tax efficient sources of finance including SEIS, EIS and VCT
Getting the share structure right at the beginning
Setting up processes to keep the company on the straight and narrow
Setting up incentive plans to allow for a tax efficient future including EMI and shares for rights
Examining other tax efficient arrangements

The Middle

How to deal with employees both incentives and cost control
How to deal with changing shareholder interests
Balancing opportunities with risk
Taking advantage of overseas opportunities

The End

Tax efficient disposal of business
Passing on the business-business property relief
The use of trusts
Reinvestment opportunities

Lectures

Pension Auto Enrolment – Your Role

April 7, 2016 Jeremy Mindell

This course is suitable for anyone who is required to advise clients on the obligations of pension auto-enrolment.

Pension auto-enrolment is being introduced in stages. The largest companies have already adopted it. Auto enrolment is now in the final stages which will effect smaller companies. The challenges for small and medium sized companies are in many ways bigger than for the larger companies. This is because there are fewer economies of scale which make this market less attractive to providers. This course will advise you of the legal requirements regarding auto-enrolment.

These include:-

The staging date when auto-enrolment becomes compulsory
Consideration as to whether an existing pension scheme needs to be modified to comply with auto-enrolment regulations
Who needs to be invited into the scheme
Who may wish to opt out – in particular higher earners
How to plan for auto-enrolment
How to engage pension providers
The communication process—how to get employees to appreciate the benefit

The course will also go through how the communication will change with the abolition of compulsory annuities.

Finally there will be a discussion of where this process is likely to lead and how your advice can be tailored for the long term benefit for your clients.