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By: Mercury Tax Group  05/12/2011
Keywords: tax, Employee Benefit Trusts

INCOME AND CAPITAL GAINS EXTRACTION

Mercury Tax has developed a product which allows for the virtually tax free extraction of funds, including income and capital gains, from various trusts and types of company.

This product is proprietary to Mercury Tax and is not offered elsewhere in the market as far as we are aware. It provides an advantage over other products, particularly for extractions from EBTs and EFRBS, and is an efficient alternative to loans.


EMPLOYEE BENEFIT TRUSTS

The main features of our EBT planning are:

  • A Corporation Tax deduction may be claimed
  • The EBT fund should be IHT free
  • The value of assets within the fund can grow tax free
  • Family members can be beneficiaries
  • Funds can be extracted for little or no tax
  • Can be used to invest in UK Property


OFFSHORE COMPANIES

In the current market, any advantage is key for the continued survival of many companies. Many companies have already left the UK, and many more have sought advice.

Have you considered whether it would be possible to move your company offshore, have you considered the potential advantages and tax savings?

If the idea of reduced CT and NIC liabilities is attractive to you and you would like to learn more please let us know.


SDLT PLANNING

Much has been made of Alistair Darling’s political gesture of increasing the rate of SDLT to 5% for properties worth £1m or more.

SDLT now represents a serious expense at a time when many home buyers are seeking to rein in their costs. We at Mercury Tax can assist in reducing or extinguishing this additional burden on property buyers with effective tax planning.

There are no requirements for the vendor to be involved or aware of the SDLT planning. Also fees are linked to the success of the planning.


PLANNING FOR DIRECTORS LOANS

Many directors of OMBs are experiencing the problems that current trading conditions have generated a very competitive market, and profits may have dropped, while individual cash requirements have remained the same. Very often this leads to an extended reliance on a directors loan account, and the ensuing tax problems.

We can help! We can assist you in reducing the loan balance without having to suffer the tax liabilities on dividends or bonuses.


IHT PLANNING

Inheritance Tax thresholds have been frozen for the next four years. This is good news in a sense, but over those four years the real value of those thresholds will decline in relation to the value of estates, and particularly so if the UK property market continues its recovery.

It is now more important than ever to make those decisions and Mercury Tax is here to help.

Our unique approach will allow you to minimise your IHT exposure while allowing you the continued use of all your assets.

The information in this article was current at 02 Dec 2011

Keywords: Employee Benefit Trusts, tax,

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