The SCF Group is in a unique position to advise both individuals and companies on how to reduce, defer or otherwise mitigate their tax obligations as it has qualified UK lawyers, tax planners and chartered accountants within the Group, some with almost 25 years’ experience working for firms such as Ernest & Young and KPMG. This wealth of experience means that tax planning clients can rest assure that they will get the highest quality tax planning advice but at rates considerably below those that would be charged by the big chartered accountancy firms.
As a licensed tax planning practice, authorised to manage companies and trusts through our affiliate European offices we can often create tax avoidance structures that can save individuals and companies significant sums of money each year. In particular, our professional staff are well versed in the latest anti-avoidance provisions applicable in most key European countries but in particular with the anti-avoidance provisions in the UK including the new General Anti-Avoidance Rule (GAAR), which must be carefully considered when setting up any new structure.
How We Can Save You Money!
In many ways, all the SCF Group has done is introduce the tax planning methods enjoyed by the multi-nationals for decades to relatively wealthy individuals and small to medium sized companies with an international, or at least potentially international, cliental. The principal ‘tools’ employed are using separate legal entities such as private limited liability companies properly managed and controlled in both tax planning and tax haven jurisdictions, international double taxation treaties between beneficial signatory states and of course facilitating physical moves to tax friendly locations again for both individuals and corporates.
VAT & Tax Rates Within the EU
The SCF Group is very much based and aimed at helping business within the borders of the European Union. As such, we have garnered much experience of using the variable tax systems, VAT and corporate tax rates and in particular eclectic tax concessions available in the different member states together with our knowledge of using the various beneficial EU ‘Directives’ and ‘Regulations’ such as the Parent Subsidiary Directive 90/435 which, in specified circumstances, allows dividends to be distributed from one EU member state to another EU member state without any withholding taxes and the Interest Directive 03/49, which allows interest on loans to be paid from one member state to another without any normally applicable withholding taxes.
Standard EU Corporate & VAT Rates - 2014
The below chart is indicative of the standard corporate and VAT rates applicable across the EU but does not take account of local domestic tax rules that may be beneficial such as in Malta where there is a significant tax rebate when dividends are distributed or countries that have high social charges such as France. In regards to the standard VAT rates these again vary considerably as many countries have different VAT rates for different sectors/goods/services, which cannot be expressed in a chart such as the one below. For greater analysis of what might be best for you or your business please contact an SCF Consultant.
|Country||Corporate Tax Rate(s)||Standard VAT Rate (s)
Special Rates = SR
|Beneficial Tax Regime for Individuals?||Overall Rating 1-10|
|Austria||25%||20% - SR 10%||5/10|
|Belgium||33.99%||21% - SR 12% - 6%||5/10|
|Bulgaria||10%||19% - SR 9%||7/10|
|Cyprus||12.5%||19% - SR 8% - 5%||Yes||8/10|
|Czech Republic||19%||21% - SR 15%||6/10|
|Estonia||21%||20% - SR 9%||7/10|
|Finland||24.5%||28% - SR 14% - 10%||5/10|
|France||34.33%||20% - SR 7% - 5.5% - 2.1%||5/10|
|Germany||29.55%||19% - SR 7%||6/10|
|Greece||26%||23% - SR 13% - 6.5%||5/10|
|Hungary||19%||27% - SR 18% - 5%||7/10|
|Ireland||12.5%||23% - SR 13.5% - 9% - 4.8% - 0%||Yes||10/10|
|Italy||31.4%||20% - SR 5%||5/10|
|Latvia||15%||21% - SR 12%||8/10|
|Lithuania||15%||21% - SR 9% - 5%||8/10|
|Luxembourg||29.22%||15% - SR 6% - 3%||7/10|
|Malta||35%||18% - SR 7% - 5% - 0%||Yes||8/10|
|Netherlands||25%||21% - SR 6%||6/10|
|Poland||19%||23% - SR 8% - 5%||6/10|
|Portugal||25%||23% - SR 13% - 6%||5/10|
|Romania||16%||21%- SR 9% - 5%||6/10|
|Slovakia||23%||19% - SR 10%||7/10|
|Slovenia||17%||22% - SR 8.5%||8/10|
|Spain||30%||21% - SR 10% - 4%||5/10|
|Sweden||22%||25% - SR 8% - 5%||5/10|
|United Kingdom||21% (2014) and 20% (2015)||20% - SR 5% - 0%||Yes||9/10|