Case Study 2: Adapting to change

Adviser name: Ross Badger

This case study highlights how we help people to set up structures, but also adapt when things change…

Greg is a US citizen. Having worked for a large bank in Europe for a number of years, he decided to move to the UK and set up his own financial services business in 2016.

Setting up a limited company

He incorporated a UK limited company, engaging with our affiliate firm Hillier Hopkins LLP to look after his company’s accounting needs and with Satis to look after his UK and US tax needs.

The business proved successful. We worked with him to develop an income strategy that:

Allowed him to fund his desired lifestyle
Retain enough funding in the company for its ongoing operational expenses
Mitigate any potential issues with double taxation between the UK and the US.

However, tax law changes in the US meant that Greg’s limited company was no longer the best vehicle through which to run his business. If we didn’t act, then Greg would have ended up paying tax in both the UK and the US on the same income.

Avoiding double taxation

After numerous discussions, we put together tax projections to illustrate the impact of different alternative structures for the business. Greg settled on the one that worked best for him and his business, and so negated the troublesome double taxation issues.

What our clients say

As an American residing in London, I have complex tax requirements having to file both in the USA along with the UK.

Satis Tax has not only undertaken this massive assignment with rigour, but more importantly, it has been the very personal engagement and insightful counselling that has shaped the relationship beyond the professional requirement. Their work undertaken has been flawless in its execution. Without hesitation I would recommend their services to all those that require a level of professionalism that goes beyond a remit.

Carol

London

Ross Badger, and now his team at Satis Tax, has been handling my US and UK tax affairs for almost 25 years. Aside from the high quality of the firm’s work and its tireless effort to ensure that tax planning in both jurisdictions is as efficient as permissible, what I have particularly liked is the unstinting personal service that Ross and his colleagues provide. But, perhaps, the best indication of my satisfaction with Satis’ work is the numerous clients I have referred to the firm all of whom have been equally happy with their experience.

Bob

London

Although tax time is no fun for most people Satis Tax makes it easy and painless. Their knowledge of both US and UK tax requirements along with their quick response to queries has enabled me to spend more time on other pressing issues.

Rita

Phoenix, AZ

One or more of the Satis Tax principals has been handling my personal taxes, both US and UK, for over 35 years. That fact speaks for itself. Several aspects of Satis' work impress me: 1) Thorough understanding of both the UK and USA tax systems; 2) Attention to detail; 3) A conservative approach combined with an appreciation that for the client "every dollar/pound matters" when it comes to limiting one's tax liabilities.

Mat

Montana

Having decided to emigrate to the U.S., I was completely unprepared for how complex the interaction between the UK and US tax systems would be. From initial tax planning advice prior to emigrating, several subsequent complex business transactions, to filing both our UK and US annual returns, I’ve always felt assured that Satis have a complete understanding of the complexities of the tax regulations. This has freed us from the worry of tax compliance in both countries. Over and above keeping us complaint, they have been an invaluable sounding board when we have found ourselves facing personal decisions that have had tax consequences through the years we have been living in the US.

Rob

Florida

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