Personal Perspectives - February 2017

Personal Perspectives

KPMG’s Private Client magazine for wealthy individuals, family offices and entrepreneurs.

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Partner, Head of Private Client, Tax

KPMG in the UK

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Personal Perspectives is KPMG’s regular magazine about current issues relevant to Private Clients including wealthy individuals, family-owned businesses and entrepreneurs. It focuses on a variety of contemporary issues on which we are currently advising.

This edition is issued at a time when the UK’s economy is strong within the global market place, but the negotiations around leaving the EU inevitably promise a challenging period of uncertainty. Accordingly, we focus on the challenge of change with the theme of managing through uncertainty and dealing with disruption.

Download a full copy of Personal Perspectives – February 2017 or
to view on your eReader please click here.

In this edition we cover:

Thriving on the challenge of change

Greg Limb, Head of KPMG Private Client, interviews entrepreneur Ian Townsend. Ian talks about how, having spent a number of years building up and then selling businesses, he thrives on the challenge of getting to grips with something new and explains how this has now led him into new ‘lifestyle’ related ventures.

The family business - til death do us part?

An individual owning a successful family business needs to identify clear commercial and family objectives before weighing up the various impacts of either selling or keeping the business. We examine the tax impact of continuing to own a profitable business until death.

Do you hold offshore assets?

HMRC are raising the financial stakes and introducing the reputational damage of being ‘named and shamed’ for failure to correct compliance errors in relation to offshore assets. With complex tax rules, unintentional errors can easily happen and we highlight some positive actions to help manage the resulting uncertainty.

The times they are a-changin' (for non-doms)

With the fundamental changes impacting non-doms, we highlight how Wednesday 5 April 2017 will be ‘switchover day’ for many long-term resident non-doms and question if those who might be affected are prepared.

UK transparency for non-UK companies

Do you own a UK company, a UK business or property through a non UK company? Are you aware of the legal obligations, including those which bring personal obligations for individuals who are the ultimate owners? Our guide looks at what you need to look out for.

Would you like to live in the UK?

With an impending Brexit we are expecting to see restricted access to the UK for EU citizens. But the UK is still a welcoming attractive country and a place which many people would like to relocate. We explore the ‘investor visa’, which allows non-UK nationals access if they invest in the UK.

On the horizon

A snapshot of developments on some of the other more significant areas of change that are relevant for Private Clients.

 

If you would like to find out more about any of the points raised in Personal Perspectives, please contact your normal KPMG Private Client contact or one of the advisers listed at the end of the magazine.

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