The Brexit vote could affect the UK economy and more specifically the Real Estate Market. The new UK Inheritance Tax could also affect all Real Estate owners that do not reside in the UK. From April 2017, even UK residential property held through an offshore company will fall within the UK inheritance tax charges. Consulco Group of companies organises an event to discuss the above and present solutions and opportunities on the general topic of ‘London Property Outlook After Brexit’ which will take place on Tuesday, 28 March at 4pm at the Hilton Cyprus Hotel.
Janet Paterson, Director at Charter Tax Consulting Ltd, will deliver a presentation on ‘UK Inheritance Tax: Major Developments affecting non-UK Investors’. She will analyse the new changes and impacts of the UK Inheritance Tax both to offshore companies and private owners. Furthermore, she will suggest alternatives for mitigating the impact in the UK and Cyprus. Janet Paterson established Charter Tax Consulting Ltd in 2009. Janet is a specialist in international aspects of UK taxation and she has been at the forefront of the April 2017 UK tax regime changes as she forms part of the HMRC Treasury working group to discuss and review the impact of these changes. Charter Tax Consulting Ltd is now an accountancy firm lead by Janet, providing a full range of tax and accountancy services.
Additionally, Panikos Tsailis, Tax Consultant, will deliver a presentation on ‘Tax and other considerations for Cypriots or other nationals wishing to invest in the London Real Estate market’. He will focus on Cyprus tax treatment for Cyprus resident corporations, individuals and trusts, owing UK real estate. Panikos Tsailis was educated in the UK. He is Fellow of the Chartered Association of Certified Accountants (FCCA). He returned to Cyprus in 1979 and joined Coopers and Lybrand a legacy firm of PwC. He became immediately head of Tax and Legal services and held that position up to a few months before his retirement from PwC in 31 March 2013. During his career he advised the Government of Cyprus on two major tax reforms and on other tax matters. He also advised the Government during the EU negotiations. He is a member of the double tax treaties negotiating team of the Ministry of Finance of the Cyprus Government. He was a Council member of the Institute of Certified Public Accountants of Cyprus (ICPAC) for 12 years, two of which he was the president. He was also a member of the tax committee of ICPAC for more than 30 years and was president of the committee for many years. As from March 2013 he is freelance tax consultant. He has a tax training consulting engagement with a professional firm of accountants. He also lectures at Globaltraining- University of Nicosia on European Taxation.
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