Thorogood Reports Series Read Description

Tax Planning Opportunities for Family Businesses in the New Regime

Spiral bound
January 2000
More details
  • Publisher
  • Published
    31st January 2000
  • ISBN 9781854181541
  • Language English
  • Pages 79 pp.
  • Size 8.25" x 11.75"

Following recent legislative and case law changes the whole area of tax planning for family businesses requires very careful and thorough attention in order to avoid the many pitfalls. This Report not only draws attention to potential problems but also provides practical advice and solutions on how to overcome them. It deals with the most important planning opportunities relevant to the family concern and is aimed to be of particular use to accountants and others who regularly act for and give advice to owner-managed businesses.

1. INCORPORATION OF THE FAMILY BUSINESS: Income tax implications; Capital gains tax implications; Enterprise Investment Scheme (EIS); National Insurance Scheme Relief; National Insurance Implications; Corporation Tax Implications; VAT Implications; Inheritance Tax Implications; Non Tax Considerations; Stamp Duty; 2. EXTRACTION OF PROFITS FROM THE FAMILY COMPANY: Remuneration Issues; Dividends; Loans; Rental Income; Pension Provision; 3. ONE MAN SERVICE COMPANY:; Illustrative Examples; The Current Position; Husband and Wife Arrangements; Action Now; 4. EXPANDING AND STRUCTURING THE BUSINESS: Corporate Structures; Capital Gains Planning; 5. EXIT ROUTES: Capital Gains Tax Planning; Inheritance Tax Planning; Pre-sale Transactions.

Christopher Jones

Christopher Jones joined Pannell Kerr Forster in 1989 where his work involved dealing with a whole range of tax compliance and planning issues for owner managed business enterprises, wealthy individuals and larger corporate groups. He qualified in 1994 and joined BPP Taxation Courses the following year where he trained students sitting the Institute of Taxation, ICAEW, and ACCA exams. He joined the BPP Professional Development Team in January 1997 and continued to develop his career in training by presenting public courses on business and personal tax topics. In the past two years he has become a freelance lecturer, still speaking for BPP and Croner.CCH seminars, and he has expanded his specialist tax practice. He is also a consultant for the chartered accountants Clark Hutchinson.