Estate and succession planning are key areas for private individuals. Passing assets and wealth down the generations gives rise to a number of UK tax issues as well as more practical considerations. The use of UK-based Family Investment Company (FIC) structures as an alternative to onshore trusts to support succession planning and asset protection is growing.
Edwin Coe’s tax services team will be hosting a seminar to discuss the concept of an FIC, for whom they are likely to be appropriate, the Inheritance Tax advantages of these structures, and the on-going tax benefits, as well as some of the drawbacks and pitfalls.
The seminar will focus on the following issues:
- Background of FIC’s
- The basic structure
- Succession planning and Inheritance Tax
- Asset protection
- Taxation of investment income within an FIC
- Potential challenges
Who should attend:
The event is suitable for individuals who are considering their plans for succession and how best to mitigate Inheritance Tax, and those who advise clients in relation to either their tax affairs or wealth.
Frank joined Edwin Coe as a partner in 2012. He leads the Tax Services team which specialises in advising clients who are subjected to challenges by the tax authorities, as well as advising high-net-worth clients and families wishing to ensure that their tax affairs are suitable for their needs.
Frank has more than 20 years’ experience in tax dispute matters and is an experienced tax dispute resolution practitioner. His detailed knowledge of HMRC’s practices and procedures means that he is able to achieve excellent settlement terms for clients.
Frank is recognised as one of the leading practitioners in this specialised field and works closely with members of the Private Client Group to offer a comprehensive service to private clients.
Sean is a Partner within the Tax Services team and acts for high-net-worth and ultra-high-net-worth individuals, entrepreneurs, companies and trustees. He specialises in advising clients in relation to their personal tax affairs and resolving disputes with HMRC.
Sean provides private client advice to international clients and entrepreneurs with a particular focus on wealth structuring, issues around residence and domicile, UK investment for non-residents (with a particular focus on property driven projects), and offshore trust/company/foundation arrangements. In addition, Sean acts for wealth management firms, fiduciary businesses, and offshore trustees on issues of UK taxation.