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Do you know your Bitcoin tax bill?

At the time of writing, Bitcoin is trading at $53,000 (over £37,000).

A few days ago, its value reached an all-time high of $58,000. Other cryptotokens have also soared in value. Read More

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Posted in 2021, Latest News, News, Newsletters | Comments Off on Do you know your Bitcoin tax bill?

Employee Ownership Trusts – a tax-free exit?

Speculation about an imminent rise in the rate of capital gains tax has led some business owners to accelerate their exit plans  Read More
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Posted in 2021, Latest News, News, Newsletters | Comments Off on Employee Ownership Trusts – a tax-free exit?

Follower notices and associated penalties: Take corrective action, or else …..

The follower notice provisions were introduced by FA 2014 and continue to be seen by the government as an important weapon in its fight against tax avoidance. Read More

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Posted in 2021, Latest News, News, Newsletters | Comments Off on Follower notices and associated penalties: Take corrective action, or else …..

HMRC’s “nudge” campaigns: deemed domiciled and non-resident individuals

HMRC’s access to information on taxpayers’ assets, income, and gains, including overseas, is greater than ever due to international agreements Read more
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Posted in 2021, Latest News, News, Newsletters | Comments Off on HMRC’s “nudge” campaigns: deemed domiciled and non-resident individuals

HMRC domicile enquiries

In this article we take a look at the growing number of domicile enquiries by HMRC, which looks set to increase further following their recent success in the Henkes case, Read More
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Another EBT scheme fails the GAAR panel sniff test – immediate action may be required

As we all know by now, most EBT/EFRBS type arrangements don’t “work” in the sense they are not accepted to deliver the hoped for tax result. Cases such as Oco/Toughglaze and Rangers saw to that, Read more 
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Posted in 2020, Latest News, News, Newsletters | Comments Off on Another EBT scheme fails the GAAR panel sniff test – immediate action may be required

HMRC IR35: tips and pointers

We have previously discussed the planned extension of the Off Payroll Working rules to medium and large size employers in the private sector from 6 April 2021. This involves shifting the responsibility that currently exists under IR35  Read More
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Posted in 2020, Latest News, News, Newsletters | Comments Off on HMRC IR35: tips and pointers

Disguised Remuneration and the loan charge: Actions required by 30 September 2020

Following the Finance Act 2020 receiving Royal Assent, and HMRC publishing updated guidance on its settlement terms, users of EBTs, EFRBS and other disguised remuneration arrangements should note Read more
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Posted in 2020, Latest News, News, Newsletters | Comments Off on Disguised Remuneration and the loan charge: Actions required by 30 September 2020

IR35 extension to the private sector delayed but what will it mean for those affected?

The latest Finance Bill extended the “Off payroll working” rules (originally IR35) as they apply to public sector bodies to medium and large companies in the private sector. The start date has been put back to 6 April 2021, which is to be welcomed, but will those affected be ready for the change? Read More
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Posted in 2020, Latest News, News, Newsletters | Comments Off on IR35 extension to the private sector delayed but what will it mean for those affected?

Non-Resident Landlord Companies – are you ready for the change to Corporation Tax?

The extension of corporation tax to companies resident outside the UK for tax purposes is a major change to the way Non-Resident Landlords (NRLs) are taxed in the UK. Corporation tax will be charged on rental profits arising from 6 April 2020 onwards. Read More
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Posted in 2020, Latest News, News, Newsletters | Comments Off on Non-Resident Landlord Companies – are you ready for the change to Corporation Tax?

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