2015

Non-dom consultation document published

KEY POINTS The non-dom consultation was published on 30 September This will have a huge impact on non-domiciled individuals who have been resident in the UK for at least 15 of the last 20 years Individuals will need to consider …
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Sideways loss relief settlement opportunity

What is this? The settlement opportunity covers situations where an individual has made an investment that has resulted in a loss computed in accordance with Generally Accepted Accounting Practice (GAAP) but HMRC dispute that there is a real economic loss. …
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Advance Payment Notices (APNs) are here to stay!

The High Court has heard a Judicial Review that was looking to challenge whether APNs are lawful. Taxpayers who had received APNs argued that the notices were unreasonable, breached natural justice and contravened the EU Convention on Human Rights. The …
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Summer budget – what does this mean for you?

KEY POINTS • From April 2017, non-doms will be deemed UK domiciled for all tax purposes after 15 years of UK residence • The Corporation Tax rate is reducing, but shareholders will lose the 10% dividend tax credit • Offshore …
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Automatic exchange of information and closure of LDF

As we enter the final six months of 2015 we do so in the knowledge that tax authorities throughout the world remain under continued pressure to increase tax receipts and to that end their focus is aided by a number …
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FA 2015 – A sting in the tail for Entrepreneurs Relief

KEY CHANGES FROM 18 MARCH 2015 Share disposals are no longer subject to the “look through” rule that previously applied to a corporate shareholding of 10% or more in a joint venture company (the “JVCo rule”). A new rule treats …
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CGT for non-UK residents

KEY POINTS From April 2015 HMRC will implement new Capital Gains Tax legislation on UK residential property non-UK residents For Companies ATED-related gains will take precedence over the new CGT rules PPR relief for non-UK resident individuals will be restricted …
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