1 day (6 CPD Hours)
Introduction
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ICAEW Financial Services Faculty members can save £100 off the full delegate price.
Free Financial Services Faculty membership until the end of 2008 when you book a place at this event * join today by selecting the option on the booking form!
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Over the past decade there have been more options for wealthy individuals to invest, spend and distribute their money than ever before.There has rarely been a better time to be rich but as the current economic climate begins to turn, sound planning and excellent navigational skills are required to weather the storm and ride out the downturn in
the UK economy.
Recent years have seen a huge increase in both the numbers of wealthy individuals and the amount of wealth they hold and, practitioners and advisors are increasingly dealing with the unique challenges that private clients of this stature bring to practice.
This conference will provide a comprehensive
overview of what it means to be wealthy in the 21st century and how to successfully manage wealth whilst remaining compliant within UK tax and accounting law.
Delegates will be able to assess the threats and opportunities for wealth managers as well as assessing market attractiveness in 2008.
The course in detail
09:30 – 09.45 Welcome
Chair – Iain Coke, Head of ICAEW Financial
Services Faculty
09:45 – 10:30 How to maintain your wealth in a recession?
A look at wealth in the context of the current
economic climate and global background.
Jonathan Compton, Managing Director,
Bedlam Asset Management
10:30 – 11:15 Managing risk by understanding asset class
relationships
The session will cover the relationships of asset classes
used in portfolio construction, including various ways
of constructing portfolios, how to manage risk, and
how to construct portfolios for varying return needs.
Dan Looney, Investment Consultant,
Towry Low Investment Management Limited
11:15 – 11:30 Refreshments
11:30 – 12:15 Alternative assets
This session will look at the mature and evolving
asset of investing in fine wines.
Gavin Saffer, Global Sales Director,
Premier Cru Fine Wine Investments Ltd
12:15 – 13:00 Getting the most from the country home,
protecting and enhancing asset value
- The country house as an investment
- Protecting asset value
- Enhancing asset value
- Running costs
- Ownership structures (practicality, compliance,
reporting procedures, user guidelines)
- VAT strategies (operating a business, capital
investment, listed buildings)
- Inheritance Tax (agricultural and business property
relief, succession planning)
- Liaison between the professionals
Philip Eddell,
Director, Savills
13:00 – 14:00 Lunch
14:00 – 14:45 Tax treatment of non-domiciles
- Navigating the new remittance basis
- Dealing with HMRC litigation strategy
on residence and domicile
- Using offshore companies and trusts
- Temporary non-residents
- Tax treaty benefits
Jonathan Schwarz FTII, Barrister,
Temple Tax Chambers
14:45 – 15:30 The attraction of QROPS
- UK Pensions taxation reform some reminders
– how simplification became “reform”
- HMG meddling on the new tax regime
for pensions – which led to the environment
that makes QROPS such an attractive option
for the expat client
- The dawning of the age of the QROPS
– and the importance of FA2004, Sch 34
– the five complete tax year rule
- Advising on QROPS – the key attractions
to the client – and the care that advisors need
to take and why
- Evaluating the available QROPS – jurisdictions
and schemes
- The advice process – from information
gathering to advice
- The administration process – how to deal with
“difficult providers” (UK transferring schemes)
Stephen Ward, Managing Director,
Premier Financial Solutions (UK) Ltd
15:30 – 15:45 Refreshments
15:45 – 16:30 The impact of the new income shifting rules
This session will consider:
- scope and methodology of the
new rules (partnerships, companies,
multi-generational businesses)
- how to defend your clients
- issues for investors in family business
- problems passing on the business
- dealing with HMRC enquiries.
Anne Redston, Visiting Professor in Law,
Kings College London
16:30 – 17:15 Navigating the changing face of capital
gains tax
- Entrepreneur’s relief delivers 10% rate of CGT
for up to the first £1 million of lifetime business
capital gains
- Maximum use of the 18% rate of tax for
non-business assets
- CGT audit – review of all assets for negligible
loss claims, inter-spouse transfers, use of capital
losses brought forward
- Extra statutory concession D26 – “swapping”
shared assets with minimum CGT
Julie Butler, Partner, Butler & Co
17:15 – 17:20 Round-up and close
What are the benefits of attending?
- Understand how to manage your clients' assets more
effectively
- be aware of the threats and opportunities facing
wealth managers and clients in the current
economic climate
- ensure that you are compliant with the UK
tax and accounting laws when dealing with
wealthy clients
- Gain 6 CPD hours by attending this event
Who should attend?
- Professional advisers acting for wealthy clients
- Personal financial planners and wealth managers
- Investment managers
- Accountants and tax advisers
- Pension advisers
Click here for more information about the ICAEW Financial Services Faculty and what they can do for you
www.icaew.com/fsfaculty
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