• IN469 - The Annual Dixcart Seminar - March 2017: Risk Mitigation for Family Offices and Corporates

    As many of you know, each year Dixcart hosts a seminar. This year the topic was risk mitigation for family offices and corporates and was held at the Institute of Chartered Accountants in England and Wales (ICAEW) in London.

    Risk is an increasingly important factor to mitigate for any business and for this particular seminar Dixcart chose to highlight the areas of geographic risk, family risk, … more

  • IN468 - Worldwide Disclosure, UK Tax Liabilities and What You Should Do

    The Worldwide Disclosure Facility (WDF) runs from 5 September 2016 to 30 September 2018. It is designed to enable taxpayers to disclose a UK tax liability which relates wholly or partly to an offshore issue.

    All other offshore disclosure facilities have now closed and this is the final opportunity for UK taxpayers to come forward before the Common Reporting Standard (“CRS”)  information exchange … more

  • IN466 - Dixcart Business Centres: Serviced Offices Where and Why?

    Dixcart Business Centres offer extensive serviced office capacity and are ideal for companies establishing themselves in a new location. Dixcart Business Centres are located in Guernsey, the Isle of Man, Madeira (Portugal), Malta and the UK.

    Business Centres can offer a productive work environment and a cost effective option for organisations with international interests wishing to operate from … more

  • INSAA - Why Companies and Individuals are Relocating to the UK and a UK Entrepreneur Visa Case Study

    During 2016 and also this year, an increasing number of Dixcart contacts are expressing interest in moving to the UK, either for themselves personally or for their clients.  They are not only attracted to the UK due to its rich culture and the British "way of life," it is also because of the tax advantages available for both companies and individuals.

    London was rated top city in the world in 201 … more

  • IN459 - Relocating a Company to the UK? Why Consider the Dixcart Business Centre

    Individuals wishing to establish a company in the UK may, for a variety of reasons, consider the use of a Business Centre offering serviced office capacity, which will provide substance. Business Centres can offer a productive work environment and a cost effective option for organisations with international interests wishing to operate from a particular location.

    A company establishing itself in … more

  • IN454 - Cross-Border Mergers in the EEA: Potential Advantages and the Need to Act Soon if a UK Company is Involved

    With increasing political uncertainty across the world, particularly at the current time in the EU, a cross-border merger can be used as a way to secure business from one country in the European Economic Area (EEA) to another country in the EEA.

    The Cross-border Merger Option Available to EEA Countries  

    For companies resident in EEA states, including the UK, the option of a ‘true’ merger … more

  • IN446 - United Kingdom and United Arab Emirates Double Taxation Agreement - Potential Action to Consider

    On 12 April 2016 the United Kingdom (UK) and the United Arab Emirates (UAE) signed a Double Tax Agreement (DTA).  This is the first DTA to be signed between these two countries. The agreement is yet to come into force and requires ratification by both countries. 

    The DTA contains provisions regarding the location of corporate residence which may have important implications for a number of … more

  • IN444 - Moving to the UK and the Opportunities Provided by the UK Investment Visa and the UK Entrepreneur Visa

    Why the UK?

    The UK is a very popular destination for many individuals. The legal and education systems are of high quality and there is an excellent choice of property, both residential and commercial. It offers a rich culture, traditions and history and has a distinctive “British way of life”, which many people feel comfortable with.

    The UK has a number of international airports; Heathrow, … more

  • IN436 - Restarting the Clock for Non-UK Domiciles: Why Cyprus, Malta and Portugal are Attractive Jurisdictions to Consider for Relocation

    The UK offers an attractive tax regime for up to 15 years for individuals who are resident in the UK but do not have a UK domicile.

    Individuals who are UK resident, but not UK domiciled, do not have to pay UK tax on their foreign income and gains, as long as these sums remain outside of the UK.

    Individuals may choose to structure their tax affairs so that they cease to be UK tax resident for a … more

  • IN430 - What are the Major Factors Non-UK Residents Should Consider When Investing in UK Commercial Property?

    Background

    Whilst there have been several recent taxation changes relating to UK based residential property (explained in Dixcart Article IN396) the taxation regime for UK based commercial property remains largely untouched.

    This, combined with the reducing UK corporation tax rate to 17% by 2020, mean that the UK commercial property market continues to be an interesting investment for current … more

  • IN425 - The Potential Tax Efficiencies Offered by UK Business Investment Relief for Non-UK Domiciled Individuals

    What is UK Business Tax Relief and What are the Tax Advantages?

    UK Business Investment Relief (BIR) was introduced in 2012.

    The key advantages provided through BIR are:

    A non-UK domiciled individual who is taxed on the remittance basis can use ‘idle’ overseas funds in the UK, as long as the remittance is channelled into a qualifying investment with a qualifying underlying UK commercial … more

  • JNF: UK Jurisdiction note

    Why Use a UK Company?

    The UK Government has introduced many changes to make the UK tax system more competitive. This has led to the return of UK holding companies, the re-shoring of manufacturing and increased UK based research and development (R&D). 

    United Kingdom (UK) entities have a respectable international image and can be used tax efficiently for cross border trading and as international … more

  • IN318 - What is the UK Remittance Basis of Taxation and How Can it be of Benefit?

    Advantages Available Through the Use of the UK Remittance Basis Of Taxation

    The UK continues to offer significant tax advantages for individuals who are resident but not domiciled in the UK. This is due to the availability of the remittance basis of taxation.  The availability of the remittance basis for longer term residents will be restricted from April 2017. Additional advice should be … more

  • IN174 - Trusts: The Importance Of Accounts And Detailed Accounting

    Dixcart Assistance

    Dixcart can provide advice to the trustees of trusts established outside of the UK, who are not familiar with UK tax law. Advice may be needed to ensure that such trustees are making tax efficient distributions to any UK resident beneficiaries. We can also advise trustees on how to keep accounting records to ensure that they are able to provide the information that UK resident … more

  • IN222 - Company Management Services Available Through Dixcart In The UK

    Background

    The World Bank has rated the UK as the eighth easiest place to do business (to June 2014) out of 189 countries surveyed. This survey takes into account a number of factors, ranging from taxation to employment law, to the enforceability of contracts. 

    Location of a European Holding Company in the UK

    The UK has also become an attractive place to locate a European Holding Company (see … more

  • IN294 - Cyprus, Madeira, Malta and the UK as Holding Company Jurisdictions

    Ideal Characteristics for the Location of an International Holding Company

    The location of a holding company is an important consideration in any international structure where the objective is to minimise the tax charged on the income flow.  Ideally the company should be in a jurisdiction which: 

    Has a good double tax treaty network, thereby minimising withholding taxes on dividends received. … more

  • IN379 - The UK – Arguably the Best Location for Corporate Headquarters in Europe

    What the UK Offers as a Tax Efficient Jurisdiction

    One of the UK Government’s key ambitions has been to create the most competitive tax system in the G20.  It has developed strategies to support, rather than hinder, growth and to boost investment. 

    Through the implementation of these strategies the Government is aiming to make the UK the most attractive location for corporate headquarters in … more

  • IN396 - What are the Key Changes to the Taxation of UK Residential Property for Non-UK Tax Residents?

    The approach to the taxation of UK residential property has changed significantly over recent years and further changes have been announced. These changes mean that restructuring should be considered to avoid unnecessary taxation, charges and costs.

    This Information Note summarises the main UK taxes that need to be considered when structuring the ownership of UK residential property by non-UK … more

  • IN410 - Persons with Significant Control (PSC) Register for UK Companies

    From 6 April 2016 UK companies and limited liability partnerships must keep a register of Persons with Significant Control (PSCs).

    From 30 June 2016 PSC details need to be included on a company’s annual confirmation statement (which replaces the current annual return).  This is a public document.

    Who is a PSC?

    You are a PSC if you meet one of the following conditions:

    Hold directly or … more

  • IN406 - UK Tax Residence - Planning Opportunities, Case Studies and How to Get it Right

    Major reforms regarding how UK tax resident, non-UK domiciliaries (“non-doms”) are taxed were introduced in April 2017.

    The changes impact on individuals who have been tax resident in the UK for 15 years or more.

    The Attractive Remittance Basis of Taxation will Continue for Many Non-UK Domiciliaries

    The availability of the remittance basis of taxation for non-UK domiciled individuals who have … more

  • IN317 - An Important Guide: Moving to the United Kingdom

    CONSIDERATION OF THE ROUTE CHOSEN TO ENTER THE UK

    Immigration Considerations

    When first coming to live in the UK it is important to ensure that your immigration status will allow you to do what you wish to do; will it allow your family members and any staff to come to the UK to study or work? Will it allow you and your family members to remain in the UK in the long-term if you wish to do so? … more

  • IN303 - Reasons Why Companies and Individuals are Relocating to the UK and a Case Study for the UK Entrepreneur Visa

    Since 2013 an increasing number of Dixcart contacts have expressed interest in moving to the UK, either for themselves personally or for their clients.  They are not only attracted to the UK due to its rich culture and the British "way of life" but also because of the tax advantages that are available to both companies and individuals.

    Tax Advantages Available to UK Companies 

    One of the … more

  • IN349 - UK Inheritance Tax - Even Non UK Domiciled, Non UK Resident Individuals May Be Exposed

    It is important that UK inheritance tax is taken into careful consideration, in particular by individuals who have assets in the UK. This Article examines how, with careful planning, some UK inheritance tax obligations can be mitigated for certain individuals.

    What is UK Inheritance Tax?

    UK inheritance tax (IHT) is a tax on money or assets held at death, and on some gifts made during a lifetime … more

  • IN338 - Moving to the UK - An Attractive Location

    Why the UK?

    The UK is a very popular destination for many individuals. The legal and education systems are of high quality and there is an excellent choice of property, both residential and commercial. It offers a rich culture, traditions and history and has a distinctive “British way of life”, which many people feel comfortable with. 

    The UK has a number of international airports; Heathrow, … more

  • IN382 - Low Tax Trading Opportunities Using Cyprus, Malta and the UK

    It is possible for a company to be incorporated in one jurisdiction and to be resident in another. In certain circumstances this can generate tax efficiencies. 

    It is very important to always ensure that the company is properly managed and controlled from the jurisdiction in which it is resident.

    The jurisdictions of Cyprus, Malta and the UK present a number of opportunities, as detailed below. … more

  • IN364 - Implications of the Introduction of the UK Diverted Profits Tax (Google Tax)

    The OECD is undertaking ongoing discussions regarding Base Erosion and Profit Shifting (BEPS).

    The UK has acted swiftly and unilaterally as one of the first jurisdictions to introduce a Diverted Profits Tax and it is anticipated that many other jurisdictions will introduce similar provisions.

    What is the UK Diverted Profits Tax?

    On 1 April 2015 the UK introduced its new Diverted Profits Tax ( … more

  • IN319 - Setting Up a Business in the UK: The Legal Considerations

    Starting a new business is very time consuming, especially if the UK is new to you, with different rules and regulations. Dixcart Legal Limited (Dixcart Legal) can assist with your legal requirements in a seamless way (as well as providing access to tax, IT, and payroll teams if required) so that you can focus your time on building your business.  

    Set out in this brief note are issues to … more