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November

Company Directors - are you paying too much Tax?

Company Directors need to be aware of many forms of taxation. Quite often company directors focus their attention on trying to minimise their income tax liabilities and the corporation tax liabilities of their companies without giving sufficient regard to the tax liabilities that arise from the sale of certain assets. They may also have little regard for the problems they might be stacking up for their immediate family on their death.   The one day seminar, Essential Tax Guidance for Company Directors, provides crucial, independent and objective information and advice for only £159 per person.

When companies and individuals sell such things as property, shares or other investments there may be a tax liability. There can be a capital gain generated when the asset or investment is sold at a price greater than its original cost. It can also occur when a gift is made. The tax on a capital gain is based on the proceeds of a sale or the market value of a gift - the rules for which are different for companies and individuals.

Companies disposing of substantial shareholdings in subsidiaries are no longer subject to tax on a chargeable gain. The change is designed to help companies that need to restructure when they are considering entering new markets and wanting to dispose of their shareholdings in existing companies. The Chancellor has also introduced the Enterprise Investment Scheme which is designed to encourage share ownership and tempt talented people to join fast-growing young enterprises.

The Chancellor does not appear to be addressing the issues associated with Inheritance Tax, the thresholds for which have not risen in line with house prices. Therefore, a growing number of executors of estates are having to advise people that a large part of their inheritance is subject to 40% tax. There is scope to reduce Inheritance Tax with careful planning but beware, this may give rise to Capital Gains Tax implications.

It is essential that people plan their tax affairs, particularly people who are shareholders and company directors. Is an Independent Financial Advisor or Tax Consultant necessarily the recommended first port of call? Many people find these avenues daunting because they do not quite understand the reasoning behind the advice they are given. The challenge for any third party is to give truly impartial advice.

UK Training have responded to the need for company directors to plan their affairs in a tax efficient manner and have designed a one day seminar, Essential Tax Guidance for Company Directors. This seminar addresses the need to organise the remuneration packages of company directors so that they are tax efficient for both the directors and the company. It also explains the pitfalls of not having sufficient regard for Capital Gains and Inheritance Tax and it highlights the tax implications of savings and investment schemes and personal pensions. UK Training's only interest is to provide you with the knowledge so you are comfortable when talking to Independent Financial Advisors or Tax Consultants. We have no interest in selling you any financial products or services. Please click here to book a place on this important seminar.

 


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