Talkin' Tax by ASWATAX

#8 UK Wills & Trusts Specialist - Richard Ansah

In this episode, Omar sits down with Richard Ansah, estate planning expert and founder of ONCE Wills & Trusts, to demystify the often-overlooked world of wills, trusts, and inheritance tax.From the mantra “own nothing, control everything” to horror stories of will writing gone wrong, this jam-packed episode explores why everyone needs a will, busts common inheritance tax myths, and breaks down the power and pitfalls of trusts. Richard also explains Family Investment Companies (FICs), outlines what really happens if you don’t have a will, and shares key strategies for generational tax planning that you should act on now.🔗 Connect with Richard & explore his resources:Website: oncewillsandtrusts.comTikTok: @oncewillsandtrustsInstagram: @oncewillsandtrusts LinkedIn: Richard Ansah01:40 - 03:51 - Intro: Estate Planning Essentials03:53 - 05:50 - "Own Nothing, Control Everything"05:51 - 08:53 - Inheritance Tax & Will Writing Services08:54 - 12:23 - Challenges in the Trust Industry12:24 - 13:38 - Horror Stories: Will Writing Fails13:39 - 16:40 - What Is a Will?16:41 - 18:08 - Witnesses Needed for a Will18:09 - 20:14 - Keeping It in the Family20:15 - 20:49 - Specialist Advice Matters20:50 - 24:50 - No Will? Intestacy Rules Explained24:51 - 28:59 - Inheritance Tax Planning Myths29:00 - 35:40 - What Are Trusts?35:41 - 38:57 - Trust Law and HMRC Tax Rules38:58 - 44:40 - Gift of Reservation of Benefit Rules44:41 - 48:40 - Family Investment Companies (FICs)48:41 - 51:15 - Inheritance Tax Reliefs and Rate Bands51:16 - 53:22 - Benefits of Family Investment Companies53:23 - 01:00:25 - Tax Planning Case Study01:00:26 - 01:00:33 - [’Five Minutes sentence‘ Cut out from the final edit]01:00:34 - 01:03:32 - Generational Tax: Act Now01:04:34 - 01:05:53 - Social Media and Estate Knowledge01:05:53 - 01:06:28 - Final ThoughtsBook your free 15-minute consultation. No obligation, just clarity.https://calendly.com/aswatax/15-minute-introductory-chatDon't miss valuable tax updates and expert insights. Subscribe and turn on notifications to stay ahead. Your support keeps us creating tailored, high-quality content.💬 Got questions or feedback? Drop a comment - we’d love to hear from you!📲 *Connect with Omar & ASWATAX:*📧 omar@aswatax.co.ukFollow Omar Aswat: https://www.linkedin.com/in/omar-aswat-chartered-tax-advisor/Disclaimer: ASWATAX is a firm of Chartered Tax Advisors. This content is for general informational purposes only and based on tax laws as of the date of this post. Always consult a qualified tax professional or refer to HMRC for the most up-to-date guidance before making financial decisions.

#7 Accounting Entries On Corporate Restructures | Talkin' Tax

In this episode of The Talking Tax Podcast, Chartered Tax Adviser Omar Aswat breaks down the accounting entries behind common corporate restructure transactions a crucial but often overlooked piece of the puzzle.Whether you're a tax adviser, accountant, or business owner, you'll learn how to reflect key restructuring steps in the books, including:00:00 – Intro01:58 – Share for Share Exchange06:55 – Dividends Paid by SubCo to HoldCo14:24 – Capital Reduction Demergers20:35 – Hive Up or Hive Down of Assets27:50 – Closing RemarksTopics covered include:- Accounting for share-for-share exchanges- Intra-group dividend entries- Capital reduction demergers- Hive-up vs hive-down treatment- Why accounting matters as much as tax and legal🎧 Tune in and simplify the *accounting side of corporate restructuring* with real-world insights and practical examples.👉 Follow and contact us if you’d like access to our downloadable Accountant’s Pack. Watch the full episode on Youtube here: https://youtu.be/4vVAfp8s-RUBook your free 15-minute consultation. No obligation, just clarity. https://calendly.com/aswatax/15-minute-introductory-chatDon't miss valuable tax updates and expert insights. Subscribe and turn on notifications to stay ahead. Your support keeps us creating tailored, high-quality content.💬 Got questions or feedback? Drop a comment - we’d love to hear from you!📲 Connect with Omar & ASWATAX:📧 omar@aswatax.co.ukFollow Omar Aswat: https://www.linkedin.com/in/omar-aswat-chartered-tax-advisor/Disclaimer: ASWATAX is a firm of Chartered Tax Advisors. This content is for general informational purposes only and based on tax laws as of the date of this post. Always consult a qualified tax professional or refer to HMRC for the most up-to-date guidance before making financial decisions.

#5 Employee Ownership Trusts (EOTs) – EVERYTHING You Need to Know! | Talkin.TAX by ASWATAX

In this episode of Talkin.TAX, Omar Aswat, Chartered Tax Adviser, dives deep into Employee Ownership Trusts (EOTs) – what they are, how they work, and the tax benefits they can offer. Whether you're a business owner considering an EOT or simply curious about how these structures could impact you or your company, this episode covers it all. Tune in for expert insights, practical advice, and everything you need to know about EOTs.If you have any queries, get in touch via www.aswatax.co.ukOr contact Omar directly at omar@aswatax.co.uk

#4 Tax and Legals on Selling a Business, LinkedIn Chat, and Prioritising Happiness! | Talkin' Tax

In this episode of the Talkin' Tax podcast, the worlds of tax and law come together to tackle a crucial topic: the tax implications of selling a business. Join me as I sit down with Stephen Mather from Steven Mather Solicitors to unravel the complexities of this process. Together, we'll explore the ins and outs of selling a business from a tax perspective, breaking down the jargon and offering practical insights. Stephen will guide us through the entire journey, sharing his expertise every step of the way. But it's not all about business. We also explore the importance of work-life balance and finding happiness in our professional journeys. Plus, Stephen shares his secrets to success on LinkedIn, proving that networking can be a game-changer for lawyers. Stay tuned for an insightful conversation that demystifies tax and law, only on the Talkin' Tax podcast! Hosted by Omar Aswat, founder of ASWATAX.

#3 Capital Gains Tax: 60 Day Reporting & Payment | Talkin' Tax

Welcome to Talkin' Tax! In this episode, we're diving into the world of capital gains tax reporting. If you're familiar with tax returns, you'll know that capital gains are typically reported on self-assessment forms, especially through the capital gains pages. But did you know there's a 60-day reporting rule for certain disposals of UK land and property? We break down the specifics of when and how to report these transactions to HMRC, ensuring you're up to speed on your tax obligations. From understanding the thresholds triggering reporting to navigating the digital reporting process, we cover it all. Book a free, 15 minute, initial no obligation consultation call with Omar via the link below: calendly.com/aswatax/15-minute-introductory-chat Don't miss out on valuable tax advice and industry updates! Subscribe to our channel and turn on notifications. Your support drives us to continue delivering high-quality content tailored to your needs. Please share your thoughts, questions, and feedback in the comments below. Stay connected with us @ASWATAX 📧 omar@aswatax.co.uk 🌐 www.aswatax.co.uk 📸 instagram.com/aswatax 💼 linkedin.com/company/aswataxx 🐦 twitter.com/aswatax 🎵 tiktok.com/@aswataxx Thank you for considering ASWATAX as your trusted tax partner. Our team of experts is here to guide you through every step of the process, ensuring you make informed decisions and maximise your returns. – Omar P.S Click here to connect with me on LinkedIn linkedin.com/in/omar-aswat-chartered-tax-advisor-88835883/ :)