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Tax retuns (IRS) 2007

27 Dec 2007 in Taxation and Succession

With 2007 drawing quickly to a close, it is time to think about tidying up your tax affairs before the year ends. The following is a checklist of things to consider before we enter into a new tax year.

Trusts

27 Dec 2007 in Offshores

Trusts have been a favourite vehicle in financial planning and asset protection for centuries. Tax mitigation is often the key element in setting up an offshore trust but they also offer many other benefits which you may not be aware of. They are very useful when it comes to the control and preservation of your wealth, for today and the future.

Calculation C.G.T.

27 Oct 2007 in Taxation and Succession

Gapital gains tax This is an article explaining the capital gains tax consequences of selling property that is in an offshore company. The Situation Options one and two Option three and the conclusion

Setting up a company

19 Aug 2007 in Business structures

Steps to Starting a Business in Portugal The steps to take in order to establish a business entity in Portugal… There are many organisations that can offer advice or help with starting a business. These include the office of Integrated Registration Solutions (Soluções Integradas de Registo - SIR), local Municipal Councils, local Citizen’s Shops (Loja do Cidadão) and local employment services. Some towns and cities have what are known as Business Formality Centres (Centros de Formalidades das Empresas, CFE*)*, designed to facilitate the setting up of businesses. CFEs can inform entrepreneurs about exactly what documents are necessary, can advise on the best company structure, explain the complete set-up procedure and provide contacts with appropriate government bodies.

Buying off-plan

28 Jul 2007 in Buying and Selling

Property Developers often sell some or all of their properties before they have finished building them. This is known as selling “Off Plan”. The main attraction for members of the public to buy “Off Plan” is to save money. Property in Portugal is still growing in value and, by paying a deposit to secure today’s prices rather than paying a higher price at completion, profits can appear to be certain. But beware.

Holiday lets and Rental Income

28 Jul 2007 in Rentals and Letting

Portuguese property is an attractive investment because it can bring income as well as capital growth, making it potentially both a secure and profitable investment. However, with making money comes fiscal obligations.

English inheritance tax

23 Jun 2007 in Taxation and Succession

UK inheritance tax (IHT) is a worrying matter for more and more Britons as they fall liable to this damaging tax. You don’t have to be a UK resident to be a victim. Expatriates living in Portugal may also be subject to IHT, although many may not realise this.

Holiday let licensing

16 Jun 2007 in Rentals and Letting

Ways of keeping your habitation licence This spring, for the third consecutive year, inspectors from Autoridade de Segurança Alimentar e Económica (ASAE) have fined agents and owners for holiday let related activities.

Equity release schemes

15 Jun 2007 in Offshores