- Видео 224
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ASWATAX | Chartered UK Tax Advisors
Великобритания
Добавлен 24 июл 2020
We provide quality, bespoke tax advice and solutions for HNW individuals, business owners, entrepreneurs, clients of accountancy firms and anyone who generally seeks it!
Our expertise lies in the following areas:
Private clients -
• Inheritance tax planning including the use of trusts, FICs etc
• Residency and domicile issues - individuals coming to and leaving the UK, remittance basis etc
• Capital gains tax advice
• HMRC Enquiries and investigations
SMEs and corporates -
• Share reorganisations such as insertion of HoldCo, demergers, transfers of trade and assets
• Selling a business, MBOs, EOTs
• Legitimate, robust R&D claims
• International taxation
If you have any problems with the above or would like to explore planning and tax mitigation, please contact:
omar@aswatax.co.uk
Otherwise, you can book an initial, no obligation 15 minute consultation call on the link below:
calendly.com/aswatax/15-minute-introductory-chat
Always happy to talk!
- Omar
Our expertise lies in the following areas:
Private clients -
• Inheritance tax planning including the use of trusts, FICs etc
• Residency and domicile issues - individuals coming to and leaving the UK, remittance basis etc
• Capital gains tax advice
• HMRC Enquiries and investigations
SMEs and corporates -
• Share reorganisations such as insertion of HoldCo, demergers, transfers of trade and assets
• Selling a business, MBOs, EOTs
• Legitimate, robust R&D claims
• International taxation
If you have any problems with the above or would like to explore planning and tax mitigation, please contact:
omar@aswatax.co.uk
Otherwise, you can book an initial, no obligation 15 minute consultation call on the link below:
calendly.com/aswatax/15-minute-introductory-chat
Always happy to talk!
- Omar
What is a share for share exchange? The Mechanics and Opportunities Explained.
In this video, I explain the mechanics - what exactly is happening on a share for share transaction.
We implement group structures for many businesses, all for different reasons. All complete from start to finish within one month, inclusive of Clearance from HMRC.
There are many reasons as to why a company would benefit from a restructure. All must be conducted on a case by case basis.
Some reasons include:
• Commercial protection of valuable assets such as property, cash, IP etc from litigation
• Tax-free dividends. So rather than. paying 39.35% personal dividend tax, you can extract funds into a company and continue with your investments through the corporate wrapper
• Loss relief group. Com...
We implement group structures for many businesses, all for different reasons. All complete from start to finish within one month, inclusive of Clearance from HMRC.
There are many reasons as to why a company would benefit from a restructure. All must be conducted on a case by case basis.
Some reasons include:
• Commercial protection of valuable assets such as property, cash, IP etc from litigation
• Tax-free dividends. So rather than. paying 39.35% personal dividend tax, you can extract funds into a company and continue with your investments through the corporate wrapper
• Loss relief group. Com...
Просмотров: 24
Видео
BUDGET 2024 - A Tax Review
Просмотров 6912 часов назад
Book a free, 15 minute, initial no obligation consultation call on the link below: calendly.com/aswatax/15-minute-introductory-chat Stay connected with us @ASWATAX 📧 omar@aswatax.co.uk 🌐 www.aswatax.co.uk Don't miss out on valuable tax advice and industry updates! Subscribe to our channel and turn on notifications. Your support drives us to continue delivering high-quality content tailored to y...
Transfer money to Dubai and pay no UK TAX!?? 🤦♂️🤣🤣
Просмотров 22516 часов назад
Being physically non-UK resident amd certain specific scenarios can open doors, but specialist advice must be taken. omar@aswatax.co.uk www.aswatax.co.uk
The Midnight Rule: UK Statutory Residence Test
Просмотров 4419 часов назад
Understanding the Statutory Residence Test UK can be confusing and complicated. Whether you’re an expat, a global professional, or considering a move across borders, understanding your tax residency status is crucial to managing your finances effectively. omar@aswatax.co.uk www.aswatax.co.uk #expat #residency #hmrc #statutoryresidencytest #global
Transferring assets into a Discretionary Trust
Просмотров 2814 дней назад
Book a free, 15 minute, initial no obligation consultation call on the link below: calendly.com/aswatax/15-minute-introductory-chat Stay connected with us @ASWATAX 📧 omar@aswatax.co.uk 🌐 www.aswatax.co.uk Don't miss out on valuable tax advice and industry updates! Subscribe to our channel and turn on notifications. Your support drives us to continue delivering high-quality content tailored to y...
4 Smart Strategies To Reduce Your Inheritance Tax Bill in 2024
Просмотров 42221 день назад
Book a free, 15 minute, initial no obligation consultation call on the link below: calendly.com/aswatax/15-minute-introductory-chat For a one-hour thorough tax consultation call: calendly.com/aswatax/tax-consultation Stay connected with us @ASWATAX 📧 omar@aswatax.co.uk 🌐 www.aswatax.co.uk Don't miss out on valuable tax advice and industry updates! Subscribe to our channel and turn on notificati...
#6 Ex-HMRC Tax Investigator - Salman Anwar | talkin.TAX by ASWATAX
Просмотров 441Месяц назад
Book a free, 15 minute, initial no obligation consultation call on the link below: calendly.com/aswatax/15-minute-introductory-chat Stay connected with us @ASWATAX 📧 omar@aswatax.co.uk 🌐 www.aswatax.co.uk Don't miss out on valuable tax advice and industry updates! Subscribe to our channel and turn on notifications. Your support drives us to continue delivering high-quality content tailored to y...
£57,729 ANNUAL TAX SAVINGS! Visual Comparative Calculations on Incorporating Your Business 📊
Просмотров 462Месяц назад
Further tax savings were identified and implemented for our client. We can undertake the whole process for you within two weeks. Complete end-to-end advice on tax, legal documents and everything in between! Book a free, 15 minute, initial no obligation consultation call on the link below: calendly.com/aswatax/15-minute-introductory-chat Stay connected with us @ASWATAX 📧 omar@aswatax.co.uk 🌐 www...
CGT, SDLT AND MORE! What are the tax implications when transferring a property to my daughter?
Просмотров 185Месяц назад
CGT, SDLT AND MORE! What are the tax implications when transferring a property to my daughter?
What Tax Rules Should You Consider When Gifting Your Main Home to Your Son? | UK Tax
Просмотров 9932 месяца назад
What Tax Rules Should You Consider When Gifting Your Main Home to Your Son? | UK Tax
#5 Employee Ownership Trusts (EOTs) - EVERYTHING You Need to Know! | talkin.TAX by ASWATAX
Просмотров 1062 месяца назад
#5 Employee Ownership Trusts (EOTs) - EVERYTHING You Need to Know! | talkin.TAX by ASWATAX
3 tax planning cases I've been looking at this week | Chartered Tax Adviser
Просмотров 682 месяца назад
3 tax planning cases I've been looking at this week | Chartered Tax Adviser
Tax reliefs on a Holding Company Group Structure - The Mechanics
Просмотров 582 месяца назад
Tax reliefs on a Holding Company Group Structure - The Mechanics
Claiming CGT Incorporation Relief without a Partnership + what constitutes a 'business'
Просмотров 1984 месяца назад
Claiming CGT Incorporation Relief without a Partnership what constitutes a 'business'
"Will I be subject to inheritance tax?"
Просмотров 384 месяца назад
"Will I be subject to inheritance tax?"
HOLDING COMPANY GROUP STRUCTURE! 3 benefits (and 2 drawbacks)
Просмотров 1805 месяцев назад
HOLDING COMPANY GROUP STRUCTURE! 3 benefits (and 2 drawbacks)
The Business Lifecycle: Tax Planning for Business Owners (LIVE WEBINAR)
Просмотров 1235 месяцев назад
The Business Lifecycle: Tax Planning for Business Owners (LIVE WEBINAR)
Taper Relief for Inheritance Tax purposes: A short walkthrough
Просмотров 755 месяцев назад
Taper Relief for Inheritance Tax purposes: A short walkthrough
#4 Tax and Legals on Selling a Business, LinkedIn Chat, and Prioritising Happiness! | talkin.TAX
Просмотров 865 месяцев назад
#4 Tax and Legals on Selling a Business, LinkedIn Chat, and Prioritising Happiness! | talkin.TAX
International Tax: Coming to and Leaving the UK (LIVE WEBINAR)
Просмотров 1415 месяцев назад
International Tax: Coming to and Leaving the UK (LIVE WEBINAR)
#3 Capital Gains Tax: 60 Day Reporting & Payment | Talkin' Tax
Просмотров 1026 месяцев назад
#3 Capital Gains Tax: 60 Day Reporting & Payment | Talkin' Tax
£2million and the Residence Nil Rate Band - What is the connection? 🤔 | UK INHERITANCE TAX
Просмотров 2068 месяцев назад
£2million and the Residence Nil Rate Band - What is the connection? 🤔 | UK INHERITANCE TAX
#2 Budget 2024, Less Tax 4 Landlords, SDLT - Jeremy Giles | Talkin' Tax
Просмотров 5778 месяцев назад
#2 Budget 2024, Less Tax 4 Landlords, SDLT - Jeremy Giles | Talkin' Tax
Splitting a trading or property inv group using a Capital Reduction Demerger | Discussing Demergers
Просмотров 1088 месяцев назад
Splitting a trading or property inv group using a Capital Reduction Demerger | Discussing Demergers
Client conversaion: Avoiding the 20% inheritance tax lifetime charge! ✅
Просмотров 709 месяцев назад
Client conversaion: Avoiding the 20% inheritance tax lifetime charge! ✅
How to extract funds tax-efficiently into your Personal Investment Company!
Просмотров 1179 месяцев назад
How to extract funds tax-efficiently into your Personal Investment Company!
4 benefits of Family Investment Companies
Просмотров 26210 месяцев назад
4 benefits of Family Investment Companies
ALL ABOUT PROPERTY INCORPORATIONS FROM A CHARTERED TAX ADVISOR!
Просмотров 104Год назад
ALL ABOUT PROPERTY INCORPORATIONS FROM A CHARTERED TAX ADVISOR!
"I received an inheritance from abroad... will I be subject to inheritance tax?
Просмотров 73Год назад
"I received an inheritance from abroad... will I be subject to inheritance tax?
How can you pay the Inheritance tax if the estate is not settled…
If there is cash in bank accounts, this can usually be released to pay HMRC before probate obtained. Otherwise HMRC may agree to an instalment plan if assets need to be sold like say a property or private company shares, but HMRC will want interest. The executors can take out a loan is another method or there may be life assurance written in trust so not part of the estate. It does seem daft that IHT payable before probate can even start.
@ Thanks for your reply. Seems strange you cannot get probate until you have paid inheritance tax, but you cannot access the deceased bank account until you have probate
Nice one, Aswat! Maybe in your next video, she'd some light on CGT when the assets transferred out of the estate (if the transferor survived 7 years) to their offsprings or descendants. What will the CGT angle on those assets transferred free of IHT?
Hi, how can I successfully move a BTL property in my name into a Ltd company efficiently? Just one property …. Please I need a good accountant
Hi Michael Best to email me and we take from there: omar@aswatax.co.uk
Very interesting
A large number of these HMRC tax inspectors are absolutely insanely incompetent. They can't even calculate tax correctly without disastrous mistakes such as not calculating penalties or even taking out expenses accurately . So many people complain about Thier inability to calculate effectively
What is the time limit for the HMRC come and ask on the case you stated?
2 akhis putting the HMC into HMRC
This video was awesome! More like this would be greT
Hi, could you please help me if I raise money from my buy to let properties and give that money to my child to buy the house then do I have to pay capital gain tax?
very informative
I see you don't have any comments so I thought I'd leave one to say I saw your video.
What happens if your hold co pwns the shares in the trading business that you are selling to the EOT? Does the share holder of the HoldCo get the same zero CGT benefit of the sale amount?
Is there 45% income tax on rental income?
If you already own property in your name and put it into family company do u have to pay CGT AND SD AND OTHER COSTS?
omar@aswatax.co.uk
How do i contact you?
Hello Abdullah, you can contact Omar directly at omar@aswatax.co.uk - alternatively you can go to our website at www.aswatax.co.uk and leave a message in the contact form! Hope to hear from you :)
Bro saved my life 😂.
Will recommend your services to my brother in-law. Exactly what we were looking for
Sure. Please email me at: omar@aswatax.co.uk
Lovin this!!
Great content
bro in Invitae selling its assets to Labcorp what about current invitae's shareholders and what will happen to their money after the deal is through please
Unless you're a politician of course.....when no action will be taken
Sc scam scam scam scam
Lol okay mate
Quick question, when you talk about unliateral tax relief and the lower of the two tax regimes can be claimed as a tax reducer, what do you mean by claimed?
Yiu only need form 17 for joint ownership not individual ownership
Omar , yoir video has fatal errors . First I should have stated if the properties were held in joint names or not . For a landlord who has properties in Thier own name . All Yiu need to do is a partnership agreement stating the Ben interest and a declaration of trust . No form 17 required at all . Both of them I can do yourself as well.
Form 17 is only req if u own the property in joint names
OK thanks
please get a different microphone.
Hi I would like to setup a family investment company. Can you help me on how to set it up.
Please email me. omar@aswatax.co.uk
FYI Omar: 1. £9m @ 20% is £1.8m of tax not £300k! 2. Non resident companies owning UK property or land were bought into the scope of UK corporation tax from 6 April 2019 not 2017. NRLs also had a basis uplift in property values in 2015 and 2019!
1. Agreed. You remind me to update the description. 2. I don't totally agree with this. Non resident companies and corporation is irrelevant as the discussion here is around non-resident INDIVIDUALS. But yes where a non-resident individual makes an indirect disposal in a UK property rich company; the rules were extended in April 2019. I think key points around awareness of temp non-residence rules are clear.
Could I ask? Trust taxation is different depending on the types of trust such as IIP, bare, discretionary. For VAT, is it same? I mean that VAT treatment differs from types of trust?
hi i want to get connected to understand more, how can i do it? I sent you an email
Intriguing video Omar, thanks for putting it out there. One query that I have, and please correct me if I'm wrong: Substantial shareholding exemption is only available for trading companies, either held solely or held in a group trading structure. The exemption does not apply to investment companies and the trading requirement also applies to the period immediately after the sale of the trading company. - Therefore in this situation, upon the client's sale of his trading company he will only be left with his investments, making the group an "investment group" and not be able to claim substantial shareholding exemption on the sale. Am I missing something? Thanks
Thanks. Yes the SSE as you say is only available to TradeCos and therefore this is still preserved. Going forward, there are other strategies we can adopt and implement to ensure mitigation of CGT and IHT!
This is great video that you have made. Much appreciate it.
Great to hear! :)
So If I sold a sole trader business for say £95k and applied for the BADR. would I only have to pay 10% CGT, eg, £9.5k, minus my allowance of £12,500 personal allowance. So a total of £8,250? Does this amount change depending on what you earned in income that tax year, as my accountant says it does?
Interesting scenario Phil. Yes in a way it will. And also note that you wouldn't deduct £12,500; the CGT AE is now at c £6k per tax year. Get in touch if you'd like to speak more!
Do you have to pay CGT when you gift the asset to Trust? Does 7 years rule apply in this case.
Answer is: it depends. If you would like our formal advice or have a situation that needs to be looked at, please email: omar@aswatax.co.uk IHT and CGT need to be mitigated seperately.
Can this be also a trading company at the same time? I mean to have it to receive rents etc from BTL purchases. Thanks. God Bless
Yes although it is always better to keep trading and investment status seperate!
Is there a limit on how many times you can use deed of trust? Can it be reversed?
Not really and yes, not reversed but a new deed can be executed
'PromoSM'
Hi Omar, do you need to obtain clearance/consent from HMRC to transfer shares/ownership of the Trade Co to the new holding Co?
Yes
Can the directors of the company i.e. the parents keep the income from properties, despite wanting to plan for IHT?
Yes. It totally depends on plans going forward. The structuring in the first place could also mean tax-free drawdowns from the company. And of course, prior to any planning, a key question would be 'Funds required to maintain lifetyle' and that would all be incorporated into the advice/structure!
@@aswatax thanks for your reply. I understand the tax-free loans, but what about the gift with reservation rules if all income is wanted to be received, after gifting?
If the property is in my name - can I put all the beneficial interest to my wife who does not work
Hey apologies for delay in reply. Please email: omar@aswatax.co.uk and we can take the discussion from there. Thanks. Omar.
🙌 ᑭяỖmo𝓼𝐦
Thank you for the informative video. I have a question in regards to the family investments incorporation. Leaving the growth to one side, which I understand will be exempt from IHT. You suggested that the properties incorporated, accumulated wealth at point of the incorporation would also fall out of IHT should grand parents survive seven years. I was under the impression that the accumulated wealth would still be a part of their estates at point of death even after the seven year window. Please can you confirm?
Great question and apologies for the delay in reply! As an example, if cash is being introduced into the FIC of say £1m, this cash can be gifted tax free to the children who then introduce the funds into the FIC. The cash gift has no CGT implications of course and for IHT it would be treated as a PET. Once 7 years elapses, the cash gift of £1m will fall out of the parents estate for IHT purposes. After 3 years, the IHT liability will begin to be tapered. A generic video above and as always, all solutions are devised on a case by case basis, tailored to individual and family circumstances. We literally devise our plan from a blank peice of paper! Any specific queries, feel free to email me: omar@aswatax.co.uk Thanks
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