If you or your clients have UK residential property, you are probably aware that those properties held in offshore vehicles will be subject to tax changes which take effect from April 2017.
  • Inheritance tax will be introduced to all offshore companies that own UK residential property, including tenanted property.
  • Recently the Annual Tax on Enveloped Dwellings (“ATED”) has been expanded to include any property with a value in excess of £500,000. The annual charge can be over £200,000 per annum for high value properties.

Persons holding UK residential property via offshore vehicles, and their advisors, should be looking urgently at their ownership structure though which the property is held and seek expert tax advice.

How can we help?

De-enveloping, or transferring the property from the company to the beneficial owners name and liquidation of the company achieves the desired result to protect your client from additional taxes.

KRyS Global have completed the voluntary liquidation of a number of companies holding UK property with a combined value in excess of £100 million.  We have developed specific expertise in this critically important area.

We work closely with your legal advisors to provide a seamless service achieving your objectives in a timely and cost effective manner.

Why KRyS Global?

As a boutique firm, KRyS Global can offer a truly independent service to your clients.  Further, there are a number of benefits of using an independent, professional Voluntary Liquidation expert to collapse the structure and distribute the asset to the beneficial owner, which include:

  • Transparency
  • Specialist expertise
  • Best practice
  • Peace of mind
  • Cost effective
  • Mitigates risk of reinstatement
If you would like more information on any of the services discussed above, please contact Timothy.LeCornu@KRyS-Global.com or Charlotte.Caulfield@KRyS-Global.com, or visit our website.