Tax Implications in The UK Between Family Companies 1 Credit
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In recent years, HMRC has seen the increased use of so-called ‘bed and breakfast’ techniques to circumvent the s455 tax charge.
HMRC has tightened its grip on Section 455 loans to owner-managers. Section 455, Corporation Tax Act 2010 (CTA 2010) is a key anti-avoidance weapon for owner-managed companies. Without it, owner-managers could easily avoid a tax charge by arranging for 'their' company to lend them funds (as opposed to paying a 'taxable' bonus or dividend).
This CPD Tax webinar looks at how income can be distributed between the shareholders and the potential pitfalls - in particular surrounding the settlements legislation. Director’s loan accounts are frequently used, which merits some examination alongside the bed & breakfasting rules, as does the tax implications of gifting/sale of shares between family members.
This course covers the following Major Topics:
Join this CPD webinar by Chris Thorpe, we will cover DLA, and understand the tax implications for both the company and the shareholder.
Chris is a Fellow of the Chartered Institute of Taxation and a member of the Society of Trust & Estate Practitioners. He is the Technical Officer for the CIOT's Digital & Agent Services, Private Client (International), and Scottish Taxes committees. He started his career in private practice in 2008, training at Grant Thornton and subsequently specializing in agricultural and private client taxes. He has expertise in Income Tax, Inheritance Tax, trusts & Estates, and Owner-Managed Business Taxes in the United Kingdom.
| License details | Credits | Status |
|---|---|---|
| Association of Chartered Certified Accountants (ACCA) | 1 CPD | Eligible |
| Chartered Accountant - ICAEW | 1 CPD | Eligible |
| Chartered Accountants - Ireland (CAI) | 1 CPD | Eligible |
| Chartered Accountants - Scotland | 1 CPD | Eligible |
| CPA - Ireland | 1 CPD | Eligible |
| License details | Credits | Status |
|---|---|---|
| Association of Chartered Certified Accountants (ACCA) | 1 CPD | Eligible |
| Chartered Accountant - ICAEW | 1 CPD | Eligible |
| Chartered Accountants - Ireland (CAI) | 1 CPD | Eligible |
| Chartered Accountants - Scotland | 1 CPD | Eligible |
| CPA - Ireland | 1 CPD | Eligible |
Credit
Course Level
Instructional Method
Pre-requisites
Advance Preparation
Chris is a Fellow of the Chartered Institute of Taxation and a member of the Society of Trust & Estate Practitioners. Having trained at Grant Thornton and previously qualifying as a barrister, he worked as lecturer at Mercia Group as well in several accountancy firms. He now works as a technical officer at the Chartered Institute of Taxation and is the author of Implied Trusts and Beneficial Ownership in Modern UK Tax Law.
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GRGI
Thank you very much for the very useful and interesting course. Although I found the content very technical it was well presented and explained.
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