The Definitive OMB Course

Course Objective

To explore the income tax, corporation tax, capital gains tax and inheritance issues affecting owner-managers and their companies, focussing on the tax planning opportunities that will enable clients to minimise their current and potential tax liabilities without falling foul of the various misguided beliefs and understandings that have grown over the years.
 

Course Content

Structuring ownership from the outset

~ Incorporation of an existing business – income tax and CGT considerations, including a very cautionary tale
~ The pros and cons of including family members as shareholders
~ One class of shares, or alphabet shares?

Structuring the company from the outset

~ Why mixed partnerships are a bad idea
~ More than one activity, or land and buildings? – Groups v associated companies and mitigating the corporation tax liability

Extracting profits from the business

~ Salary v dividends v interest – examples at differing levels of profit
~ Taking advantage of the benefits in kind rules (and avoiding the pitfalls!)
~ Working from home
~ Minimising the impact of s.455 rules on loans to participators

Anti-avoidance obstacles

~ IR35/off-payroll working
~ Settlements and dividends

Closing down the company

~ Cessation issues
~ Liquidation v informal winding up

Succession planning and capital taxes issues for owner managers

~ CGT planning for sales
~ EOTs – the way forwards?
~ Purchase of own shares
~ IHT implications of passing on the shares – lifetime gifts and gifts on death

COURSE MATERIALS - Your materials will be available within your Account Area.

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