The Second Budget 2015

The Second Budget 2015

budget imageFollowing the Budget?Statement announcement we are pleased to confirm that, as far as we are aware, there is nothing new which adversely affects Premiere?s trading and investment opportunities or solutions to HMRC Collection Demands/APN?s. It should be noted that the increase in the cost of extraordinary profits from companies using dividends from April 2016 will make Sovereign Corporate even more attractive by an additional 10%.

As a reminder the key features are:

Sovereign Corporate for companies and their directors

Sovereign Corporate enables your clients to trade in the acquisition and distribution of film rights with the primary objective of generating?profit?but it can also have great tax planning benefits including:

  • Reduced Corporation Tax
  • Tax free profit extraction
  • Director loan account surplus.

EIS and Seed EIS for individuals

  • Income Tax Relief at 50%
  • Capital Gains Tax Relief up to 28%
  • Loss Relief up to 45%
  • Plus our SEED EIS opportunities incorporate risk mitigation to reduce the capital at risk even further.

Sovereign Estate for individuals and their estate

This strategy enables High Net Worth individuals to diversify into film-rights trading with the objective of generating profit for themselves and their estate beneficiaries.

Benefits include:

  • Future film income
  • Reduced IHT liabilities
  • Business Property Relief after two years
  • Initial loss relief against taxable income, subject to statutory limits.

Solutions for tax collection demands including APNs

For clients that have been caught by HMRC tax demands including for DOTAS products, our associated company Cotter Solutions has an Action Group that can provide an immediate solution.

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Claire Gerrard

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