Portuguese Nominee Holding Company

mousehound · Post by **mousehound** » Sun May 21, 2006 9:03 am

I have recently bought a property owned a small holding companyfor my own exclusive use - no renting! I was advised by the professionals involved that this was an entirely beneficial move and that there were no pitfalls. However, I have subsequently been advised that, as a non-resident, I shall be liable for UK inland revenue assessment as a 'benefit in kind'. Does anyone have any experience of this? Would the sensible move be to now buy the property privately, assuming the CGT is not too great! Thank you

Mexican Pete · Post by **Mexican Pete** » Mon May 22, 2006 9:24 am

Try this link: posting.php?mode=quote&p=12101&sid=07e1 ... 1b3902091a We followed this advice and have not been assessed for any benefit in kind in respect of the time we spend at our place.

mousehound · Post by **mousehound** » Mon May 22, 2006 6:58 pm

Thank you for your reply - the company we have, however, is a land based Portuguese one and I think it is this that is causing our tax advisor's headache!

Mexican Pete · Post by **Mexican Pete** » Thu May 25, 2006 9:26 am

With respect, I don’t think that the domicile of the company is the issue. It is the specifically worded nominee agreement that has resolved the "benefit in kind" question for us. If it would help, send me a PM and I'll willingly send you a copy of the wording of our agreement.

mousehound · Post by **mousehound** » Mon Jun 05, 2006 7:52 pm

Dear Biffa
I've been trying unsuccessfully to send you a reply to your recent message. Is the system down?

mousehound · Post by **mousehound** » Mon Jun 05, 2006 7:53 pm

I've been trying to contact Biffa by pm but it does not seem to be working