PraxisIFM is an independent, owner-managed, group of companies providing a wide range of bespoke professional services to private individuals, families and international corporate clients.
The business administers a variety of trusts and other similar financial structures for their clients including international and cross-jurisdictional solutions.
Francis Clark Tax Consultancy (FCTC) has worked with PraxisIFM on a variety of projects mainly in relation to the taxation of UK property and family trust structures. These have involved some particularly complex areas of the UK tax code, some of which have been subject to dramatic change in recent years.
The FCTC team providing the advice comprised partner Stuart Rogers, an acknowledged expert in international business tax matters and advising on complex corporate entities and tax consultant Karen Bowen, a private client specialist.
Stuart Rogers said:
“We have supported PraxisIFM with certain tax issues on the restructuring of the ownership of property. In particular we have provided advice upon the new annual tax on enveloped dwellings (ATED) rules, capital allowances, non-resident landlord returns, tax treaty interpretation, VAT and UK corporate tax issues on restructuring.
“We also advised on changes to the UK IHT position with regard to the ownership of UK property and the new non-resident CGT charge on UK residential property.”
Commenting on the services provided by FCTC, Paul Blackwell, Client Relationship Director at PraxisIFM and himself a member of the Chartered Institute of Taxation, said: “The service, effort and professionalism of the FCTC team is exceptional. They work extraordinarily hard and have dealt with some difficult and challenging cases.”
Stuart Rogers added:
“Paul and his team always bring some exceptionally interesting projects to us and we’ve really enjoyed working together over the past twelve months.”