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UPDATE: CLAVIS HERALD TRUST PLANNING – HMRC SETTLEMENTS – “CARELESSNESS”

In a recent newsletter we described HMRC’s written invitation sent to certain users of Clavis Herald planning arrangements to settle liabilities on particular terms. read more
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Posted in 2018, Latest News, News, Newsletters | Comments Off on UPDATE: CLAVIS HERALD TRUST PLANNING – HMRC SETTLEMENTS – “CARELESSNESS”

Attention Trustees! A worrying problem for protected trusts

Despite the policy intention behind the concept of protected trusts, it has now been discovered that a flaw in the legislation means that deemed domiciles will be taxable on… read more
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Posted in 2018, Latest News, News, Newsletters | Comments Off on Attention Trustees! A worrying problem for protected trusts

Protected trusts investing in the UK – the pitfalls!

Finance Act No.2 2017 creates a new category of “Protected trusts”, where the settlor is not actually UK domiciled, but becomes UK deemed domiciled under the changes in this Act. Read more.
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Posted in 2018, Latest News, News, Newsletters | Comments Off on Protected trusts investing in the UK – the pitfalls!

HMRC issue guidance on cleansing mixed funds

No shortcuts, no best estimates, and a cliff edge. Finance Act No 2 2017 provided a “one-off” opportunity for non-UK domiciled individuals who have a cash mixed fund account to cleanse that account in the period from 6 April 2017 to 5 April 2019. Read more.

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Posted in 2018, Latest News, News, Newsletters, Uncategorized | Comments Off on HMRC issue guidance on cleansing mixed funds

Protected trusts – another deadline for us to think about

Trustees need to act now to ensure protected trusts retain that status after 5 April 2017. Read more.

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Posted in 2018, Latest News, News, Newsletters | Comments Off on Protected trusts – another deadline for us to think about

Panama completes sign-up to Common Reporting Standard

On 15 January, the Director General of the Panamanian tax authority signed the CRS Multilateral Competent Authority Agreement‎ (CRS MCAA). Read more.
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Posted in 2018, Latest News, News, Newsletters | Comments Off on Panama completes sign-up to Common Reporting Standard

Disguised remuneration: postponing the loan charge

HMRC has published guidance on how to postpone the loan charge for disguised remuneration loans due to arise on 5 April 2019. The loan charge will apply to anyone with a loan received through a disguised remuneration tax avoidance scheme that is still outstanding on 5 April 2019. read more
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Posted in 2018, Latest News, News, Newsletters | Comments Off on Disguised remuneration: postponing the loan charge

Update on Disguised Remuneration (DR) and PAYE liabilities on April 2019 loans

In our Newsletter last month, we commented on the proposal in the Budget Statement for transferring a PAYE liability from an employer to an employee where the employer is unable to pay the liability. read more
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Posted in 2017, Latest News, News, Newsletters, Uncategorized | Comments Off on Update on Disguised Remuneration (DR) and PAYE liabilities on April 2019 loans

Budget update: UK commercial property

Thanks to the Chancellor, the UK is about to become a little less attractive to overseas property investors. The recent UK Budget announcement included plans to ensure that non-resident investors in UK commercial property will, from April 2019, pay UK capital gains tax or corporation tax on gains. read more
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Posted in 2017, Latest News, News, Newsletters | Comments Off on Budget update: UK commercial property

Disguised Remuneration 2019 loans charge: Budget update

The Budget Statement provided only very brief but potentially significant details of the government’s proposed measure for transferring an income tax liability from an employer to an employee in respect of an April 2019 disguised remuneration loan charge. read more

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Posted in 2017, Latest News, News, Newsletters | Comments Off on Disguised Remuneration 2019 loans charge: Budget update

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