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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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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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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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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

New Settlement Terms for EBTs, EFRBS and Contractor Loan schemes

HMRC issues new guidelines on voluntary settlements, and they are far from simple! read more
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Posted in 2017, News, Newsletters, Uncategorized | Comments Off on New Settlement Terms for EBTs, EFRBS and Contractor Loan schemes

Is HMRC’s new Settlement Opportunity the only option for EBTs and EFRBS?

Following the recent decision of the Supreme Court in the Rangers case and HMRC’s announcement of a new Settlement Opportunity, is that now the only option for Disguised Remuneration scheme users? read more

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Posted in 2017, Newsletters, Uncategorized | Comments Off on Is HMRC’s new Settlement Opportunity the only option for EBTs and EFRBS?

Solicitors’ regulator turns up the heat for tax advisors…

The body regulating Solicitors in England & Wales has just issued an extraordinarily stern warning to those who provide advice to clients wishing to avoid tax contrary to the intentions of Parliament using arrangements which ultimately fail. read more

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Posted in 2017, Latest News, News, Newsletters, Uncategorized | Comments Off on Solicitors’ regulator turns up the heat for tax advisors…

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