Pearse Trust Blog

Why Choose A UK Limited Company? [Part I]

Posted by Pearse Trust on Wednesday, Aug 26, 2015

In the first of a new series of blogs on UK Limited Companies, their uses and compliance requirements, we focus on the types of structures available to UK Limited Companies including their features and benefits.

Why The UK?

The UK has a strong tradition of attracting international businesses which are expanding their operations or wish to create a footprint in Europe.

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Tags: Limited Companies, uk

Choose Ireland For Business: A Hotspot For Foreign Direct Investment

Posted by Pearse Trust on Wednesday, Aug 19, 2015

Ireland’s tax system is sometimes criticised by those campaigning against corporate tax avoidance. However, what is often overlooked is the fact that Ireland’s low rate of corporate tax attracts high volumes of physical investment.

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Tags: Ireland, Economy, Investment

VAT & VIES Filing Requirements In Ireland

Posted by Pearse Trust on Wednesday, Aug 12, 2015

Ireland’s decision to join the EU in 1973 marked the introduction of Value Added Tax (VAT). VAT was implemented among all member states as the turnover tax within the “common market”, and as a means of policing VAT, the ‘VAT Information Exchange System’ (VIES) was introduced in 1993.

VIES operates as a system of administrative support to member states and ensures both the registration of companies for VAT as well as the correct rate of VAT being charged on all transactions.

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Tags: Ireland, Tax, EU, VAT

UK Summer Budget: Britain “Open For Business”

Posted by Pearse Trust on Wednesday, Aug 05, 2015

For employers and investors, Chancellor of the Exchequer George Osborne’s Summer Budget contained quite a few surprises. Some of the more interesting measures are summarised here.

Corporate Tax To Fall Below 20%

At 20%, the UK already has the joint-lowest rate of corporate tax in the G20. However, Osborne was clear that "the country cannot afford to stand still while others rush ahead." So in something of an unexpected move, the Chancellor announced that corporation tax will fall to 19% in April 2017 and 18% in 2020. Osborne said the new rates will send out "loud and clear the message around the world: Britain is open for business."

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Tags: United Kingdom, Tax, Economy

Canada & New Zealand’s Double Tax Agreement Comes Into Force

Posted by Pearse Trust on Wednesday, Jul 29, 2015

An updated Double Tax Agreement (DTA) between Canada and New Zealand came into force on 26 June 2015. The new agreement will generally lower withholding tax (WHT) on dividends, interest and royalties between the two countries and has been welcomed by investors in both countries. The changes will begin to take effect from 1 August 2015.

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Tags: Tax, New Zealand, Canada

Small Business, Enterprise & Employment Act 2015

Posted by Pearse Trust on Wednesday, Jul 22, 2015

Further to our previous overview and summary blogs, The Small Business, Enterprise and Employment Act (the Act) received Royal Assent and was passed into law in the UK on 26 March, 2015. This blog contains an update on certain corporate related aspects of the Act.

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Tags: Legal, Directors, United Kingdom

New Zealand’s Business Growth Agenda

Posted by Pearse Trust on Wednesday, Jul 15, 2015

New Zealand’s Budget 2015 announced by Minister of Finance, Hon Bill English on 21 May 2015,  is being called “a plan that’s working”. The budget highlighted a positive outlook for the economy and included a range of tax-related measures and investment initiatives.Some of these initiatives are aimed at New Zealand businesses and are being referred to as the “Business Growth Agenda”.

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Tags: Tax, Economy, New Zealand

New Zealand Corporate Trustees

Posted by Pearse Trust on Wednesday, Jul 08, 2015

As discussed in a previous blog post, New Zealand is a popular jurisdiction for settlement or re-domiciliation of a Trust. This is because, when structured correctly, the New Zealand Foreign Trust will not be subject to taxation.

In order to avail of optimum tax benefits, a New Zealand resident trustee referred to as a 'resident foreign trustee’ must be appointed. The resident foreign trustee is typically a New Zealand corporate trustee. Foreign-sourced income derived by a New Zealand resident trustee is exempt from income tax in New Zealand provided the settlor is not resident in New Zealand.

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Tags: New Zealand, Trusts

Loans To Participators In Close Companies - Tax Considerations

Posted by Pearse Trust on Wednesday, Jul 01, 2015

This blog will examine the tax considerations in relation to loans to participators. This anti avoidance measure attacks the practice of withdrawing profits from close companies in the form of loans. Without this measure it would be possible for shareholders in close company to borrow money from the company instead of taking remuneration or dividends.

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Tags: Ireland, Tax, Close Companies

2 Types Of Flow Through Entities In New Zealand

Posted by Pearse Trust on Wednesday, Jun 24, 2015

Today we are going to examine the New Zealand Limited Partnership (LP) and the New Zealand Look Through Company (LTC), both of which are particularly distinguished due to their flow through tax status.

1. New Zealand Limited Partnership

The New Zealand LP is a partnership structure similar to those established in overseas jurisdictions and can be used for a variety of purposes such as holding and trading assets worldwide. They enjoy separate legal ownership from their owners, who are referred to as partners.

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Tags: Tax, New Zealand, Finance