Originally posted by portseven
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Reply to: Dividend via a Trust
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Previously on "Dividend via a Trust"
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We've had this lot crop up a few times recently.
http://forums.contractoruk.com/accou...ml#post2149988
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Lets just say it is fine now. Give it a few years and HMRC will collect. Retrospectively.
If you are silly enough to try it, then at least put anything "saved" into a CTD.
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Originally posted by northernladuk View PostThe new tax is hardly going to cripple you.
A30% increase I the basic rate of tax from 20 to 26% would probably have raised quite a lot of comment. That is in effect what this change is.
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Originally posted by Gavwar View PostHi
I wouldn't usually entertain these schemes that we all get phone calls on, but with the new dividend tax law coming into force in April I guess I'm a bit more receptive.
Has anyone heard of Trust Planning? Is this really a viable option? Or is it so risky that you're better off paying the additional tax?
Thanks
Is this the one where:
- there is a chargeable lifetime transfer for IHT purposes when you give shares in your limited to the trust,
- there is employment income tax on the value of the shares that you give the trust because the trustee is an associated person of you,
- the trust pays the highest rate of dividend tax,
- there is PAYE/NIC when the trust earmarks the cash for you or pays it to you, and
- IHT is due on the amount in the trust every ten years and when cash is paid to you?
No idea of whether DOTAS would apply but make sure you find out as if there is a tax advantaged it would look like the new Financial Products hallmark will apply.
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Dividend via a Trust
Hi
I wouldn't usually entertain these schemes that we all get phone calls on, but with the new dividend tax law coming into force in April I guess I'm a bit more receptive.
Has anyone heard of Trust Planning? Is this really a viable option? Or is it so risky that you're better off paying the additional tax?
ThanksLast edited by Gavwar; 7 February 2016, 00:01.Tags: None
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