Martyn Fiddler Aviation frequently uses their experience of Customs, tax and corporate services provision for aircraft to assist financiers in a variety of different ways:
- Tax opinions to financiers to ensure their clients aircraft will not be subject to unseen liabilities
- that could cause breach of loan covenants or value ratios
- The highest standards of corporate governance and regulation of corporate entities accepting finance from lenders
- A deep understanding of duties towards creditors in default or distressed situations
- The ability to hold distressed assets within our portfolio to maximise value in difficult situations
- Advice, assistance and training to lending teams to extend their knowledge in specialist aviation Customs and tax matters helping them understand not just the answers, but also the questions they should be asking in a situation.
In many cases we act as an external yet "in-house" resource for financiers providing quick responses to tricky questions; this allows specialist knowledge on hand without costly one off fees. Our tax advice is provided by Chartered Tax Advisers who have developed a network of aircraft tax experts internationally so advice can be obtained easily world-wide. Our ability to ask the right question is often the key to a smooth and uneventful transaction.
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Understand all the legal, registration, and tax issues associated with aircraft transitions and returns.
Be Prepared for 31 December 2020
In less than 4 months’ time the UK will leave the European Union (31 December 2020). At the time of writing there is no agreement in place to determine what the status of goods (including business aircraft) imported into the EU (including the UK and Isle of Man) before 31 December 2020 will be.
In the newsletter attached Martyn Fiddler Aviation outline the list of possible results, explaining the impact of each scenario and the work that will be requested of aircraft owners in order to remain in free circulation in both the UK and the EU.