News & Insights

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 of national and international agreements which will see the automatic exchange of financial information between…

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 the activities of a company as the member of a partnership as not being trading…

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 from April 2015; The restrictions may also affect UK resident individuals disposing of a property…

Key points  SDLT & ATED rates increase – what now for non-doms? Principal Private Residence Relief rules tightened for non-residents Remittance Basis Charge – charges increase and a minimum period may be introduced The Google Tax – is it really just for multinationals? It was difficult to find any pre-Christmas cheer in the Chancellor’s statement and…

Key Points Voluntary settlement should not be automatically ruled out Settlement terms can often be advantageous Advance Payment Notices mean cashflow benefit may cease in any event Each case is different and client objectives are paramount We have been dealing with a number of voluntary settlements of EBT and EFRBS arrangements with HMRC for clients…

Key Points HMRC will receive more information from overseas territories from 2016 under UK FATCA arrangements This will include details of bank accounts, trusts and companies involving UK residents UK FATCA applies to British Overseas Territories and Crown Dependencies Disclosure facilities exist that can remedy any tax problems efficiently Our special questionnaire can help identify…

Key Points The Accelerated Payments provisions are.Included in the Finance Bill as expected. Potentially thousands of demands giving 90 days to pay tax could be issued in late summer. Contact us now for an initial review of your position and the options available to you. The 2014 Finance Bill published on 27 March included the…

In his Autumn Statement on 5 December, the Chancellor of the Exchequer announced proposals (followed by draft legislation on 13 December) to put in place a requirement for taxpayers to settle tax disputes and make payment of the disputed tax on receipt of a “Follower Notice” issued by HMRC stating that their case is on…