The Tax Workshop is perfect for sole practitioners and small practices, offering practical, expert-led sessions designed to refresh your knowledge and keep you ahead in the ever-changing tax landscape.

The following topics will be covered in the November session:

Tax Brief

What we cover: Our Tax Brief is a review of the current tax landscape to keep you up-to-date with any changes and current news.

Trust or Company? – Making an Informed Choice

Whether a trust is more appropriate than a company, or vice versa, for a client wishing to conduct a business or simply hold investments will depend on the client’s particular situation and needs. 

The decision should consider not only the current situation but also the future when the activity grows and needs change. 

Also relevant will be the client’s capacity to operate the structure, willingness to either learn about the legal obligations of, and technical compliance obligations associated with, using the entity or else pay for professional assistance in its operation.

To this end, in this session we consider:

• The main differences between a company and a trust regarding the taxation of its income and capital gains
• The differences in the tax rules that apply to each for the purposes of recouping losses of prior years
• The advantages of using a company as a beneficiary of a trust – this means that both a company and trust would be appropriate
• The advantage of a discretionary trust holding the shares in a company that carries on a business
• The differences in the rules applying to accessing profit or income of the entity
• Whether new business ‘partners’ can be easily admitted to the structure

All TaxBanter tax training qualifies as eligible CPE/CPD hours.