Corporate and Business Structures

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Corporate and Business Structures2020-05-19T19:53:33+02:00

Do you have the optimal business structure?
Are you paying too much tax?
Will your business survive your death?
Can your business survive the creditors claim? These claims normally arise from circumstances outside of your control or planning.
Are your personal assets secured from your business exposure and failure?
Is your business secure from you? E.g other exposure, divorce, death etc.

iProtect and our affiliates have been assisting business owners since 1998 to secure their businesses and personal assets, ensure tax efficiencies and proper succession planning.

In our vast experience we note that most business owners have the incorrect structures that result in the business and their personal assets being exposed, voluntarily pay too much tax (YES, you read that correctly!) and on their death the business is shut down or if it survives the demise of the owner there are massive costs, executors fees, taxes and estate duties.

At iProtect we attend to assist our many clients to ensure that their assets are secure by making them financially bullet proof, they pay only the required taxes, in essence what the law stipulates and on their demise that all their assets are bequeathed to their intended beneficiaries without having to be sold due to high taxes (CGT 18%), executors fees 3.5% plus VAT) and estate duty (20% on assets in excess of R3.5 million and 25% on assets in excess of R30 million).

In order to achieve the above the objectives the following must be undertaken:

  1. To personally own nothing, this will protect any assets you have from business or other creditors.
  2. The business must be structured to ensure that an unforeseen claim or vagary will not result in financial ruin, accordingly the business and the assets must be properly secured.
  3. The business shareholding must be correctly structured to achieve tax efficiencies. This can result in savings of 17-20%.
  4. Once the business is correctly structured the death of an individual it will continue to operate and will not trigger any capital gains taxes (18%) executors fees (3.5% plus VAT) or estate duty of 20% on net values over R3.5 million or duty of 25% on net values in excess of R30 million.

The above objectives are everyone’s desire but we have noted that most business owners avoid taking action because they are under the impression or are advised that structuring their business and personal assets will cost a fortune in taxes, transfer duties and other costs.

At iProtect, we can move any asset, business or property without triggering VAT, any form of tax or transfer duty. There will only be legal costs to achieve the objectives stated above.