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Wealth Tax

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Wealth Tax

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Wealth Tax

Workshop Details

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Our Wealth Tax Workshops are of great value to those involved in advising clients or implementing structures for clients in their interactions with the UK tax rules.
You will not be tax experts afterwards, but Bernard’s easy delivery style will impart you with the confidence to ask the right questions and know the pitfalls that come with making assumptions on tax matters.
The Workshops are intentionally participative, thus optimising the post workshop benefit for attendees.

Who are these workshops for?

  • Accountants
  • Bankers
  • Corporate Service Providers (CSPs)
  • Custodians
  • Fiduciary specialists
  • Tax specialists
  • Trustees
See individual course details below for workshop duration and pricing.
10% Discount Available* 
*1 person attending more than one workshop or 
2 or more attendees from same company at any workshop

Bernard O'Kelly

Our Wealth Tax Workshops are of great value to those involved in advising clients or implementing structures for clients in their interactions with the UK tax rules.
You will not be tax experts afterwards, but Bernard’s easy delivery style will impart you with the confidence to ask the right questions and know the pitfalls that come with making assumptions on tax matters.
The Workshops are intentionally participative, thus optimising the post workshop benefit for attendees.

Who are these workshops for?

  • Accountants
  • Bankers
  • Corporate Service Providers (CSPs)
  • Custodians
  • Fiduciary specialists
  • Tax specialists
  • Trustees
See individual course details below for workshop duration and pricing.
10% Discount Available* 
*1 person attending more than one workshop or 
2 or more attendees from same company at any workshop

Bernard O'Kelly

Our Wealth Tax Workshops are of great value to those involved in advising clients or implementing structures for clients in their interactions with the UK tax rules.
You will not be tax experts afterwards, but Bernard’s easy delivery style will impart you with the confidence to ask the right questions and know the pitfalls that come with making assumptions on tax matters.
The Workshops are intentionally participative, thus optimising the post workshop benefit for attendees.

Who are these workshops for?

  • Accountants
  • Bankers
  • Corporate Service Providers (CSPs)
  • Custodians
  • Fiduciary specialists
  • Tax specialists
  • Trustees

Bernard O'Kelly

See individual course details below for workshop duration and pricing.
10% Discount Available* 
*3 people from same company at one workshop or 1 person attending all workshops. Contact us for more information.

Workshop Details

Register Your Interest

Let us know which Workshops you're interested in and we will be happy to assist.

Register Interest

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.

 

In this workshop, Bernard will guide you through the rules and how they apply. Some of those applications may come as a surprise to some. The workshop will be knowledge enhancing, but also practical, with in-class exercises and interactivity, including completion of a Return itself.

 
Workshop 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

The question of offshore structures holding UK situs property is one that directors and trustees in international finance centres contend with on an ongoing basis; it is one which should be reviewed regularly. This question may be focused on queries from clients (usually non-UK) wanting to invest in UK property via offshore structures, or indeed, in respect of existing structures and whether the structure is still required.

 

This workshop will look at the holding of UK property during a timeline of pre-purchase, ownership, and disposal. It will look at the various taxes that apply generally, and how they apply at each stage of the ownership cycle. It will be interactive and utilise practical exercises to emphasise the areas covered. It will not make participants tax experts, but will highlight what needs to be considered by them to avoid pitfalls and assumptions on treatment.

 
Workshop Overview
The Ownership Cycle
  • The Taxes that apply
  • The definitions of those taxes to ensure clear application throughout the cycle
  • Buying the Property and Considerations
  • Is the structure right for the client?
  • Existing client owned property
  • Traditional Structure v Property Partnerships – an overview
  • Existing client owned property and considerations
  • Lifetime thresholds and the care required
  • Supplementary charges
  • Non-Primary residences
  • Offshore companies
  • Anti-Avoidance clearance and HMRC
 
Owning the Property
  • The taxes relevant and their application
  • Where & when
  • What tax is becoming ‘historical?
  • Restrictions on reliefs available during this part of the cycle
  • Disposal of the Property – The taxes relevant and their application
  • Where & when
  • Tax that has a non-resident application
  • Exit charges
 
The Common Pitfalls
 

Duration

1 half day
 

Price

£245 + VAT

British ex-Pats, who are considering returning to live in the UK, may have accumulated levels of wealth which, anecdotally, they understand they should protect by wrapping the wealth in an offshore structure as a matter of course. Is this really the case? It may not be, based on the individual’s personal circumstances. So what are the criteria that should be brought in to play, when deciding how best to optimise their position from the moment they arrive in the UK?

 

This half day workshop will take Corporate Service Providers and Trust Fiduciaries through the issues that need to be considered when they are interacting with clients in order to arrive at the most appropriate answer for the client. It will be interactive and use practical exercises and case study to consolidate the learning process.

 
Workshop Overview

The danger of advice from the ‘man in the pub’!

 

Returning to the UK

  • When are they proposing to return (and why this matters)?
  • What will they do upon returning (and why this matters)?

 

Fiscal Connections with the UK or other countries

  • The importance and the potential opportunities.
  • Where were they born?
  • Domicile and its impact (Origin/Dependency/Choice)
  • Deemed Domicile and its impact?
  • Citizenship/Nationality/Residency
  • How much time have they spent in the UK in recent years?

 

Protection of the Assets – action steps

  • What assets has the individual accumulated?
  • The type of asset and why this is important?
  • How long have they been held? Are any of the assets UK situs?
  • Could/Should assets: Be Sold? Be Held? Be Gifted?

 

Structure Type – what does and doesn’t create UK tax liabilities?

 

Duration

1 half day.

 

Price

£245 + VAT

Workshop Details

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.

 

In this workshop, Bernard will guide you through the rules and how they apply. Some of those applications may come as a surprise to some. The workshop will be knowledge enhancing, but also practical, with in-class exercises and interactivity, including completion of a Return itself.

 
Workshop 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

The question of offshore structures holding UK situs property is one that directors and trustees in international finance centres contend with on an ongoing basis; it is one which should be reviewed regularly. This question may be focused on queries from clients (usually non-UK) wanting to invest in UK property via offshore structures, or indeed, in respect of existing structures and whether the structure is still required.

 

This workshop will look at the holding of UK property during a timeline of pre-purchase, ownership, and disposal. It will look at the various taxes that apply generally, and how they apply at each stage of the ownership cycle. It will be interactive and utilise practical exercises to emphasise the areas covered. It will not make participants tax experts, but will highlight what needs to be considered by them to avoid pitfalls and assumptions on treatment.

 
Workshop Overview
The Ownership Cycle
  • The Taxes that apply
  • The definitions of those taxes to ensure clear application throughout the cycle
  • Buying the Property and Considerations
  • Is the structure right for the client?
  • Existing client owned property
  • Traditional Structure v Property Partnerships – an overview
  • Existing client owned property and considerations
  • Lifetime thresholds and the care required
  • Supplementary charges
  • Non-Primary residences
  • Offshore companies
  • Anti-Avoidance clearance and HMRC
 
Owning the Property
  • The taxes relevant and their application
  • Where & when
  • What tax is becoming ‘historical?
  • Restrictions on reliefs available during this part of the cycle
  • Disposal of the Property – The taxes relevant and their application
  • Where & when
  • Tax that has a non-resident application
  • Exit charges
 
The Common Pitfalls
 

Duration

1 half day
 

Price

£245 + VAT

 

British ex-Pats, who are considering returning to live in the UK, may have accumulated levels of wealth which, anecdotally, they understand they should protect by wrapping the wealth in an offshore structure as a matter of course. Is this really the case? It may not be, based on the individual’s personal circumstances. So what are the criteria that should be brought in to play, when deciding how best to optimise their position from the moment they arrive in the UK?

 

This half day workshop will take Corporate Service Providers and Trust Fiduciaries through the issues that need to be considered when they are interacting with clients in order to arrive at the most appropriate answer for the client. It will be interactive and use practical exercises and case study to consolidate the learning process.

 
Workshop Overview

The danger of advice from the ‘man in the pub’!

 

Returning to the UK

  • When are they proposing to return (and why this matters)?
  • What will they do upon returning (and why this matters)?

 

Fiscal Connections with the UK or other countries

  • The importance and the potential opportunities.
  • Where were they born?
  • Domicile and its impact (Origin/Dependency/Choice)
  • Deemed Domicile and its impact?
  • Citizenship/Nationality/Residency
  • How much time have they spent in the UK in recent years?

 

Protection of the Assets – action steps

  • What assets has the individual accumulated?
  • The type of asset and why this is important?
  • How long have they been held? Are any of the assets UK situs?
  • Could/Should assets: Be Sold? Be Held? Be Gifted?

 

Structure Type – what does and doesn’t create UK tax liabilities?

 

Duration

1 half day.

 

Price

£245 + VAT

Register Your Interest

Let us know which Workshops you're interested in and we will be happy to assist.

Register Interest

Workshop Presenter

The Workshops are delivered by Bernard O’Kelly and are available Online or Face to Face (Isle of Man). 

Bernard, a Barrister at Law, has been providing practical tax advice and solutions ‘offshore’ for 30 years. He is the principal of Fios Limited, Isle of Man.

Contact

For more information, contact Gerry, email: 

gerry.ganly@ganlytipper.com

or call +44 (0)7624 490809

Get in touch!