WHY USE SCF? 2018-07-03T07:08:41+00:00

WHY USE SCF TO DE-ENVELOPE YOUR UK PROPERTY?

The SCF Tax Planning Group has been established for over 25 years and has long been considered to be one of the foremost tax planning, company formation and accountancy practices in London and indeed the UK. The Group was set-up by Barry M. Spencer-Higgins LL.B (Hons), MOI and his late Father John Spencer-Higgins a Financial Director by training. Mr. B.M. Spencer-Higgins is a Grays Inn, Barrister-at-Law and has written leading tax planning books and in-numerous articles for many Financial Times publications, the Mail on Sunday, the International Herald Tribune etc. and has also been a contributor on a number of Accountancy Age TV and Legal Network TV programmes.

With respect to de-enveloping property the Group has all the requisite knowledge, skills and specialist conveyancing lawyer contacts to ensure that each accepted instruction runs smoothly and with the desired end result of transferring ownership from the original corporate body to its individual ultimate beneficial owner WITHOUT incurring a stamp duty land tax (SDLT). It should be noted that apart from the complicated legal process of preparing all the documentation in a manner that will be accepted by the Land Registry and HMRC, the legal and tax position of each client will need to be carefully considered to ensure that his or her tax circumstances warrant de-enveloping. With respect to the proposed property to be de-enveloped factors that are often salient include the domicile and place of ordinary residence of the ultimate beneficial owner, the market value of the property, whether the property is rented out or not, whether the property is directly managed and registered for tax in the UK, whether or not there is an overhead trust or private interest foundation plus whether the property is freehold or leasehold, a flat or a house and especially whether there are any third party related loans and/or charges/mortgages.

Economic & Transparent Fees

In all cases, SCF will aim to provide economic and transparent fees before the de-enveloping process has even begun. However, it should be noted as a general rule that proportionally the more valuable the property concerned the more prudent/economic it becomes to de-envelop. This prudence/economy does not merely derive from the inherent economies of scale of conveying a more valuable property but also because the annual tax on enveloped dwellings (ATED) increases dramatically for such properties often making these prime de-enveloping candidates.

For a free analysis by our team of experts on whether de-enveloping is for you simply complete the Form to the Right and one of our consultants will revert within 2 working days.

Do I have to have originally registered my company with SCF to use your services?

No, not at all although non-SCF formed companies may take longer to de-envelop given the additional required checks, certificates of good standing and intermediaries involved. In certain circumstances, it may also result in additional charges especially if no initial and proper minutes and/or accounts where maintained. However, even where there is extra work involved in the vast majority of cases SCF will still be able to assist provided it is economic to do so.

PRIORITY ENQUIRY FORM

(Strictly Confidential No Obligation)


Is the property Encumbered/ Mortgaged?
YesNo

Is the Property Freehold or Leasehold?
FreeholdLeasehold

Omega Building, 1st Floor Offices, Riverside West, Smugglers Way, London SW18 1AZ, UK

Telephone : + 44 (0) 20 7731 2020 Email : enquiries@scfgroup.com

Certificate Number : 11352124 – VAT Number : 859 0235 14

© Copyright 2014 SCF Group

A FULL RANGE OF PROPERTY DE-ENVELOPING, ACCOUNTANCY & TAX PLANNING SERVICES

De-enveloping.co.uk is part of The SCF Group of Companies and has been specifically set-up to assist those who have purchased London and UK properties using previously tax efficient offshore or international business companies but now find that the annual Advanced Tax on Enveloped Dwellings (ATED) is too high to economically maintain on properties worth over £500,000.00 AND do not want to be subject to Stamp Duty Land Tax (SDLT) when transferring a company held property to themselves.

It should be noted that generally it is not economically viable to de-envelope properties below £750,000.00 but as the ATED tax thresholds are very punitive it becomes almost compulsory (where possible) for properties worth over £1,000,000.00 with very substantial savings coming into play for properties worth over £2,000,000.00.

The services offered by The SCF Group combine almost 25 years of offshore and tax planning experience which enable the firm to correctly prepare, amend, legalize or otherwise prepare a company for tax free conveyancing in conjunction with our specialist conveyancing solicitors. For those with properties worth £2 million or more the cost of de-enveloping is often less than 1 year’s ATED Tax.

It should be noted that not all properties can be de-enveloped including properties that have received 3rd party funding or are subject to encumbrances. In addition, generally commercial properties are exempt from ATED as are those that are carrying out genuine UK property management services, which for the purposes of clarification does not simply mean renting out a property using a UK estate agent but actually carrying out property management in the UK with profits subject to UK corporate and value added taxes.

ACCOUNTANCY & TAX PLANNING

In addition to property de-enveloping services The SCF Group also provides a wide range of tax planning, accountancy and company formation services both within the UK and internationally including wealth protection trusts and private interest foundations. For more information on the main SCF Group please go to our ‘Mother’ Website www.scfgroup.com.