CEO of Blick Rothenberg
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HMRC’s ‘secret’ FIC avoidance unit disbanded

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The HMRC unit reviewing the use of family investment companies was found to be a waste of time, diverting valuable technical resources. It has now been shut down.

10th Sep 2021
CEO of Blick Rothenberg
Blogger
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HMRC has given family investment companies (‘FICs’) the “green light”, following an internal review lasting over two years. The timing of the conclusion of HMRC’s review may be predicated by the fact that the corporate tax rate is confirmed to increase to 25% from 1 April 2023, but they will nevertheless continue to be a useful planning option for wealth structuring.

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