UK Property and Offshore Structures Conference
The popularity of offshore structures for holding UK property has increased significantly over the past 3-4 years. By way of example, the Jersey Financial Services Commission estimates that they now regulate over £23 billion of real estate funds.
This increase in popularity is largely due to the considerable tax savings that these structures can bring. The potential SDLT savings are well documented, but businesses are now looking to the wider benefits of using offshore structures which include substantial reductions in Capital Gains Tax and Corporation Tax.
With UK tax rates at up to 40%, there are still opportunities for property investors and developers to mitigate their tax liabilities.
This conference will present UK developers and investors with:
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an overview of the offshore structures available and their advantages
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guidance on potential tax savings and different mitigation strategies
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advice on funding offshore structure deals and how to maximise your competitive position
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guidance through the maze of anti avoidance rules which will enable you to make significant tax savings
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practical insight into the services provided by an offshore trustee.
We are delighted that Christopher Bennett will be joining us at this conference. Christopher is Managing Director of Dominion Real Estate, a Jersey based organisation that administers investment funds and other structures, in Jersey and other offshore jurisdictions, with particular expertise in real estate fund administration. Christopher will provide a very useful insight into the management arrangements and costs related to offshore structures.
Offshore structures are still a vibrant option for the UK property industry and we have a wealth of experience in this area. Over the last 18 months alone we have been involved in a number of JPUT transactions with an aggregate value in excess of £1.5bn and more recently we have been involved in a number of the successor structures to the JPUT, including offshore limited partnerships.
Whether you are seeking to create an offshore structure for a property purchase, or you wish to buy a property which is already held offshore and need to decide whether or not to retain the existing structure or simply buy the asset, this conference will provide you with invaluable practical advice that will not only help you take advantage of the opportunities available with offshore structures but which could also materially improve your bottom line.
PROGRAMME
10.00 Registration & Coffee
10.30 Chairman’s Introduction
Simon Etchells, Property Partner, Semple Fraser
10.45 Offshore Structures – general principles and tax benefits
Alastair Johnston, Head of Tax, Semple Fraser
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Why go offshore?
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Tax advantages: CGT, SDLT, Inheritance Tax, Corporation Tax and The Double Tax Treaty
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Anti avoidance rules and how to “avoid” them
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Mitigation strategies and possible structures for developers, investors and dealers
11.10 Coffee
11.25 Offshore Structures and Funding
Alex Innes, Partner, Head of Banking and Finance, Semple Fraser
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Buying and selling offshore structures – considerations and differences.
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Being prepared – what to consider when negotiating the Heads of Terms
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Deal complications and how to overcome them
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The funders viewpoint – how to ensure your deal is funded
11.45 Operating offshore – the trustees perspective
Christopher Bennett, Managing Director, Dominion Real Estate
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The role of the offshore Trustee
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How decision-making works in practice
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Costs and implications of operating an offshore structure
12.05 Questions & Discussion
12.30 Lunch & Networking
This conference is one of a series that offers practical guidance and solutions to issues affecting those involved in the commercial property industry. The conference will also present you with an opportunity to network with peers in your industry and share best practice.