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Using a UK company to hold personal assets
KEY POINTS
- Low UK corporate tax rates are making companies an attractive alternative as investment “wrappers”.
- The tax advantages and disadvantages which drive this use of companies.
- Is there “bounty” and can the corporate veil be drawn aside?
- Not all investments will be suitable for corporate ownership.
- If this use of companies becomes prevalent will HMRC seek to change the rules to discourage this?
The UK now has one of the lowest corporation tax rates of any of the Group of 7 (G7) countries a fact often cited as an incentive for multinationals and international entrepreneurs to locate their corporate activities here.
However the impact of falling corporate tax rates is having a wider impact and is spreading into the world of investment advisers and private client practitioners.
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