TRUST & UK 10 YEAR TAX CHARGE
Overview
The ten-year tax charge that HMRC levy on almost all trusts can be a minefield for many businesses involved in the offshore trust/fiduciary world. It places responsibilities on businesses which, if not dealt with properly, can be problematic for trustees and clients alike.
It will guide participants through the rules and how they apply. Some of those applications may come as a surprise to some. It will be both knowledge enhancing, but also practical with in-class exercises and interactivity, including completion of a Return itself.
The course is delivered by Bernard O’Kelly BCL, AITI CTA, Barrister-at-Law, Fios Limited, Isle of Man. Bernard has been providing practical tax advice and solutions ‘offshore’ for 30 years.
Who should attend?
- Accountants
- Bankers
- CSPs
- Custodians
- Fiduciary specialists
- Tax specialists
- Trustees
Content Overview
To whom does it apply? When is it relevant?
UK domicile and UK deemed domicile
When does the Charge apply?
Residential Property Interest
- Definition and applications (or not)
- Loans
- Non-UK situs assets
- The Two-Year Tail
The Return and Payment
- Who has responsibility?
- Penalties on late returns and the HMRC scope
- Payments
- Late payments and penal rates of interest
- Paying by instalments
Duration
1 day (over 2 x half days)
Price
£420 + VAT
A 10% discount will be applied to the 3rd or subsequent attendees from the same firm.
Companies may wish to consider the delivery of an in-house workshop.
