Tax Issues for Family-Owned Companies - 15 October 2020 (On Demand)
This webinar considers a number of practical tax issues that arise with family-owned companies. These issues include structuring family-owned companies, paying remuneration and making distributions to owners, dealing with overdrawn current accounts and debt remission, restructuring family-owned companies, and liquidating family-owned companies. The application of COVID-19 tax relief to family-owned businesses will also be considered.
ORIGINAL BROADCAST DATE
15 October 2020
- Understand the key differences between ordinary companies, qualifying companies and look-through companies.
- Know what COVID-19 tax relief measures are available to family-owned companies.
- Understand the rules relating to remuneration paid to owners and relatives of owners.
- Know when non-cash benefits will be subject to FBT, taxed as a dividend or can be made tax-free.
- Learn how to deal with overdrawn current accounts and restructuring debt owed by insolvent companies.
- Understand what tax issues arise when the ownership of a family-owned company changes or a family-owned company is restructured.
- Know when capital gains can be distributed tax-free on liquidation, including how to deal with “tainted capital gains”.
Junior and intermediate accountants, and lawyers that advise clients on structuring and restructuring family-owned businesses.
Stephen Tomlinson, Principal, Tomlinson Law
1.5 CPD Hours
On Demand Event
Complete online in your own time (Self-paced)