Join Us - 27 April 2021

FCTC Offshore Tax 2021:
Non-Doms, Non-Resident Clients,
Settlements And Underlying Companies

Location: Live Online Register
Event Overview

Non-Doms, Non-Resident Clients,
Settlements And Underlying Companies

This Field Court Tax Chambers virtual conference brings delegates fully up to date with the changes in law and practice in the offshore world of individuals, companies and trusts.

  • Golden trusts must be watched like a hawk and check lists for trustees, settlors and their advisers are critical.
  • The FA 2020 changes for settlements must not be overlooked.
  • What property holding structures should be brought into the UK and how?
  • When are single premium policies useful and how does one avoid creating a PPB?
  • When do treaties override the IHT “election” deemed domicile rules and when must the election be exercise?
  • Are liquidations safe from s682?
  • Why are there problems in source identifications (income tax) and asset location and when can HMRC use the GAAR?
  • Is DOTAS a problem?
  • When are loans safe and when do they devastate and when should the taxpayer use a DDS?

There is also a special session from Porus Kaka Senior Counsel India who Chambers & Partners call The International Face of Indian Tax Practice on establishing an Indian domicile for UK death duty treaty purposes and the Indian taxes to consider for UK resident Indian domiciled clients.

This is an area where nothing stops still, there are no pauses for breath! We dare you to miss this conference!

Ticket Information:

£500+VAT

Running Time:

9.30am - 5.30pm

Location:

Live Online

CPD:

6½ Hours

Our Speakers

Expertise in depth

Patrick C Soares

Patrick C Soares

Head of Chambers     …genuinely fantastic; a walking encyclopaedia on tax

Patrick C Soares

Patrick Way QC

Patrick Way QC

Barrister     The consummate lawyer

Patrick Way QC

Philip Baker QC

Philip Baker QC

Barrister     A guru on treaty and cross-border tax

Philip Baker QC

Imran S Afzal

Imran S Afzal

Barrister     Really clever and very assiduous

Imran S Afzal

Peter Vaines

Peter Vaines

Barrister     Incredibly technically able… a legend in the field of residence and domicile

Peter Vaines

Katherine Bullock

Katherine Bullock

Barrister     highly creative, always pragmatic

Katherine Bullock

Dilpreet K Dhanoa

Dilpreet K Dhanoa

Barrister    

Dilpreet K Dhanoa

Porus F Kaka

Porus F Kaka

Barrister     The International face of Indian tax practice

Porus F Kaka

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Reasons To Attend

Why You Should
Attend

A fantastic opportunity to hear top tax barristers discussing topical issues from the comfort of your own space

Event Schedule

When, What, Who

9:30 - 9:35 am

Introduction

Chairman's welcome and opening remarks.

9:50 - 10:10 am

The UK/Indian Estate Duty Treaty and the Deemed Domicile Override

  • In certain circumstances it may be possible to rely on the Estate Duty Treaty with India to override a deemed UK domicile
10:10 - 10:30 am

Planning for Individuals Resident in the UK but Domiciled in India

What you must know about Indian tax law

  • Establishing an Indian domicile of origin for death duty purposes
  • UK/India death duty treaty from the Indian perspective
  • Indian Parents leaving property to children resident in the UK – how should it be done
  • UK remittances basis users who have Indian asset and income
10:30 - 11:00 am

Why you must have a Domicile Pack

  • Be prepared for a potential HMRC challenge to domicile status
  • Gain comfort if tax returns are being filed in reliance on non-UK domiciled status
11:00 - 11:15 am
11:15 - 11:45 am

"God's Particle" Structures

  • Settlor interest settlement caught by the GROB
  • Loss of spouse exemption
  • Special trust clauses
  • Creating an immediate post-death interest to solve the problem (IHTA 1984 s49A)
  • CGT implications
11.45 - 12:20 pm

Golden Trusts - Twenty Point Checklist

What you can and cannot do with a Golden Trust and its underlying companies

  • Dangerous loans
  • Use of adjuster clauses
  • IHT and tainting
  • UK source income
  • Service contracts
  • Catch all clauses with precedents
  • The OIF problem
  • The insurance policy problem
  • Underlying companies
  • Is an anstalt a settlement
  • Loans from connected settlements
12:20 - 1:00 pm

Transfer Of Assets Abroad

  • How to apply the motive test
  • Where are we with EU protections after Brexit?
  • How are non-domiciliaries affected by the rules?
  • How do the Fisher, Davies and Rialas cases help our understanding?
1:00 - 2:00 pm
2:00 - 2:40 pm

Double Tax Treaties

  • The impact of recent changes made by the MLI
    • Introduction to the MLI
    • The new preamble
    • The generalised savings clause
    • The PPT
  • Tax treaties, tax planning and tax avoidance
2:40 - 3:05 pm

Single Premium Offshore Policies

Their strategic roles in offshore settlements - what is happening in practice

  • The magic 5%
  • Avoiding the PPB regime
  • S730
  • Golden Trusts
  • Below trust level gains
  • Chamberlains’ case
  • Dangerous advisers
  • Hermetically sealed trusts
  • CGT
3:05 - 3:40 pm

Non-Resident Companies Dealing in and Developing UK Land

  • Property development structures
  • Beware of the TAAR
  • Fragmentation and enveloping
  • Double Tax Treaty dilemmas
  • The “new” land transaction code
  • When tax might be withheld
3:40 - 4:00 pm

Coffee Break

4:00 - 4:30 pm

Critical Planning - IHT and
Non-Domiciliares

  • Returning Non doms – use the IHT grace period
  • Exempt Gilts
  • Additions to trusts – new rules
  • GROBS and excluded property
  • UK residential property and relevant loans
  • Watch out for unexpected 10 year and exit charges
4:30 - 4:55 pm

Transfers Between Settlements - when the alarm bells must ring

  • How do the new rules in FA 2020 affect non-domiciled settlors when assets are transferred between settlements?
  • How is the relevant property regime affected?
  • What about reservation of benefit under the new rules?
  • How does s.80 operate?
  • Is Barclays Wealth dead and buried?
4:55 - 5:15 pm

Non-Resident Companies Investing in UK Land and when to make them UK Resident

  • Life after the revolution
  • The hidden costs of a non-resident property company
  • NR CGT: direct and indirect UK land disposals
  • Rebasing dilemmas
  • Excluded property traps: Schedule A1
  • When is it time to bring the company home?
  • Onshoring Obstacles and how to avoid them
5:15 - 5:30 pm

Recent Case Review

  • Pike v Commissioner [2020] FCAFC 158; (2020) 23 ITLR 293
5.30 - 5.30pm

Close of Conference