Tax Case Tests Dual Residency Tie-breaker Tests
We advise a lot of clients on their UK tax resident status and also, in cases where they are dual resident, we assist them in...
All of our blog posts are shown below with the most recent shown first.
UK's Wealthy Taking Flight to Save Tax
It is being widely reported in the UK press that UK taxpayers are leaving the UK due to the tax changes coming into force from 6...
CIOT Response to Carried Interest Consultation
On 29 July His Majesty’s Treasury (HMT) made a request for stakeholders to provide evidence and comments on proposals to reform...
Selling goods via online platforms
This article is to make you aware of a new tax alert issued by HMRC which confirms they are targeting those who sell goods and...
HMRC Target Crypto Gains
If you own any crypto assets, it is important that you consider whether any gains realised have been reported correctly as these...
Turning the page to the new Labour government
After 14 years of Conservative rule, Labour has taken the reins under Keir Starmer with a massive majority as the electoral map...
Pandora Papers - Does this affect you?
Last year wrote about offshore income and gains letters being issued to taxpayers who were linked to the Pandora Papers. ...
Selling UK Property While Living Abroad
Our private client Partner Jamie Favell recently caught up with Experts for Expats to discuss the tax issues faced by...
HMRC Success Against Bernie Ecclestone
HMRC Success Against Bernie Ecclestone : What does this mean for those of us that aren't billionaires?Its been widely publicised...
HMRC Send 23,936 Offshore Nudge Letters re 2022/23
HMRC continue to become aware of taxpayers who may be in receipt of income/gains from overseas assets via automatic exchange of...
Post Pandemic Residency Review
It is being widely reported in the press that HMRC are targeting individuals that have claimed non-resident status for UK tax...
7.75% Late Payment Interest - A sting in the tail
[UPDATED TO REFLECT BASE INCREASE ON 3 AUGUST 2023]
Pandora Papers - What were they and what if you were named in them?
The Pandora papers involved the release of millions of documents from a number of different offshore financial service providers,...
Autumn Statement - Summary
Earlier today the current Chancellor announced the latest Autumn Statement. Unlike the “fiscal event” announced 55 days ago by...
HMRC Target Offshore Companies
We have been made aware by the Chartered Institute of Taxation that, the UK tax authorities, HM Revenue and Customs (“HMRC”)...
Mini-budget key points
Today Kwasi Kwarteng presented his first budget and with a clear strategy, reduce taxes to stimulate growth! Some headline...
Non-Domiciled - What is a Non-Dom and what is the Remittance Basis?
There has been a huge amount of press around the fact that Rishi Sunak’s wife, Akshata Murthy, is a “non-dom” and able to access...
Quid Game - Budget
The 2021 Autumn Budget was delivered today by The Host, the Chancellor of the Exchequer Rishi Sunak.
HMRC Target Crypto Owners
HMRC has warned taxpayers that hold crypto assets, that they should expect to be contacted to verify their tax affairs are in...
A muted Budget?
The Chancellor’s forthcoming budget is only a few weeks away (27 October) and as usual there is plenty of speculation regarding...
CGT Hike Looming?
The Sword of Damocles hanging over UK investors is the continued threat of hikes in capital gains tax (“CGT”) rates. The rates of...
ATED Filing Obligations and Penalties…
Companies that own UK property are required to file annual ATED Returns (“Annual Tax on Enveloped Dwellings”) with HMRC.
Footballers beware!
Football is currently providing rich pickings for HMRC as illustrated by a recent Freedom of Information request.
Budget 2021
The Budget will be held on Wednesday March 3, 2021.
The UK's Tax return deadline is fast approaching
The UK’s personal tax Self Assessment return deadline is on 31 January 2021. The return covers the period starting on 6 April...
Remuneration Trusts Targeted by HMRC
HMRC have published Spotlight 56 entitled Disguised remuneration: tax avoidance by owner managed companies using Remuneration...
HMRC sets its sights on individuals with overseas assets / income
In recent weeks HMRC have recommenced a campaign which targets taxpayers that have overseas assets, income and gains, which may...
Mini-Budget Introduces Immediate Measures to Boost the UK’s “Post-Covid 19 Economy”
The Chancellor has today introduced new financial measures in a mini-budget aimed squarely at creating job placements for the...
UK Tax Residency and the Impact of Covid-19
The world is seeing unprecedented disruption as we try and cope with the outbreak of the latest coronavirus.
Budget update 2020-21
Today the UK government announced its Budget for 2020-21.
HMRC’s Offshore Investment Fund Letters
It has become evident that HMRC are acting on information received under the Common Reporting Standards (“CRS”) and other...
HMRC Requesting Offshore Income & Gains information
As previously discussed here HMRC have been targeting taxpayers who they believe have overseas income and gains, which may not...
Non-Dom’s Targeted by HMRC Policy Paper
While the 2019 Spring Budget was a fairly benign event for private clients, HMRC published a policy paper which is worthy of...
HMRC's "Offshore Income or Gains” Letters
HMRC are currently sending out letters to taxpayers requesting more information on overseas income and gains, which may not have...
Dual In The Crown: Considering UK and Swiss Dual Resident Status
Our Private Client Tax Partner Jamie Favell was recently featured in the ePrivate Client annual feature on Switzerland discussing...
Mixed Fund Cleansing: Action Required
To recap, if you are a non-dom living in the UK, certain tax residency milestones can impact your tax status. A £30,000 charge...
Who has a requirement to correct?
It has been well publicised by ourselves, the press and HMRC that the ‘requirement to correct tax due on offshore assets’...
Visa Go Go!
It has been reported in the papers that there has been a sharp rise in applications for the UK’s £2M Tier 1 (Investor) Visa.
EBTs, Contractor Loans and HMRCs Settlement Offer
Freelance workers must declare any tax-avoidance schemes they have used by 30 September or face punitive penalties.
Tax Dual Resident : being tax resident in two places at the same time
It is becoming more and more common for expat workers to commute from their home country to another country where they spend...
Non-Dom Tax Planning Update
If you are a non-dom living in the UK, certain tax residency milestones can impact your tax status.
Requirement to Correct : Cleaning up any offshore tax issues
Finance (No. 2) Act 2017 introduced new Requirement to Correct (RTC) legislation which is targeted at non-complicance in respect...
TAP Advise on Feel Good Group Private Equity Deal
Russ Cahill our Corporate Tax Partner advised on the recent Feel Good Group / Perwyn private equity deal providing providing tax...
Mixed Fund Cleansing
We have assisted several clients with mixed fund cleansing already and now outline here how we have helped one particular client.
Non-Dom Changes and Opportunities
This year’s General Election resulted in a period of uncertainty for non-UK domiciled ("non-dom") taxpayers as anticipated tax...
Cryptocurrency, Bitcoins and Tax
The press often includes articles about cryptocurrency and bitcoin's – perhaps discussing their future, fluctuating values and...
Mixed Fund Cleansing and Rebasing for Non-Doms - Effective from 6 April 2017
A written statement from the treasury has today confirmed that new tax laws withdrawn from Finance Bill 2017 will be legislated...
UK - UAE Double Tax Treaty
We have many clients who have moved to the UAE and specifically Dubai in recent years, many of whom are pleased to know that the...
Discrimination Settlements and Tax
You work hard for your employer, however throughout your employment you are discriminated against, due to your age and...
D Day is here for non-domiciled taxpayers..
The 2016/17 tax year has ended and the key elements of HMRC's Non-Dom reform are now in force.
Non-Dom Reforms
Many changes to the taxation of Non-Domiciled ("Non-Doms") taxpayers will take effect from 6 April 2017.
ATED - File from 1 April to avoid penalty charges and claim relief...
The annual tax on enveloped dwellings (ATED) has been in place since 2013.
Rebasing and Cleansing Mixed Funds
From 6 April 2017, a non-domiciled individual who has been UK tax resident in at least 15 of the previous 20 UK tax years will...
2017 Year End Tax Tips
With another filing deadline now behind us, it is time to turn our attention to identifying opportunities which can help reduce...
The Art of Tax : Averaging for Creators of Literary or Artistic Works
If you are an author or artists, managing your cash flow and keeping your tax liabilities down is crucial.
TAP Advise on Private Equity Deal
Russ Cahill our Corporate Tax Partner advised on the recent Business Growth Fund (BGF) / Ultra Finishing private equity deal...
Non-Dom Reform : Rebasing of Assets
From 6 April 2017 any individual who has been resident in the UK for at least 15 of the past 20 tax years will be deemed UK...
Keep FIC in the Family
If you have fully utilised your pension saving allowances, exhausted your trust planning opportunities but still want to be able...
Expat Tax Break : Overseas Workdays Relief
If you are an expat coming to the UK to work there is one UK tax break which should not be ignored...
HMRC's Worldwide Disclosure Facility (WDF)
(Updated 18th June 2019) HMRC are busy collecting data from over 100 countries and their financial institutions on UK resident...
It was good to know EU
So as we all now know, in a historic referendum the UK has voted with its feet and decided to leave the EU.
Annual Tax on Enveloped Dwellings
Act now in order to meet this month’s filing deadline We are assisting our clients in making their ATED declarations for the...
Mortgage Interest Relief Restricted for Landlords
The Chancellor confirmed in the Autumn 2015 budget that with effect from 6 April 2017, tax relief on interest relating to...
TAP Tax Tips
With another filing deadline now behind us, it is time to turn our attention to identifying opportunities which can help reduce...
Non-Residents, Non-Doms, UK Property
UK Government “ATED” those tax reliefs The UK and in particular London has enjoyed phenomenal increases in property values in...
HMRC Target Taxpayers with ‘Badges of Wealth’
HMRC have set up a task force focused on collecting tax from Scottish taxpayers who appear to be living beyond their means. They...
Budget 2015: TAP Private Client Update
The Chancellor of the Exchequer, George Osborne, delivered the first Conservative Budget since 1996 today.
TAP Client Survey 2014
The TAP ethos is to provide efficient and exceptional client service.
TAP Year End Tax Tips
With another filing deadline now behind us, it is time to turn our attention to identifying opportunities which can help reduce...
Capital Gains Tax for Non-Resident Owners of UK Residential Property
It is widely known that from 6 April 2015 a new capital gains tax (“CGT”) regime will apply to non-resident owners of UK...
Deoffshorisation
Changes in Russian Tax Law to Force Migration to UK The Russian government has passed new tax legislation that will force...
Nowhere to Hide
UK and 51 jurisdictions to share financial account details of resident taxpayers The UK has signed up to a new automatic...
Negative Earnings
It is not unusual for an employee to receive a valuable signing on bonus, often referred to as a ‘golden handshake’ in exchange...
Non-Dom Campaign Reaps Rewards for HMRC
A report in this weekend’s Financial Times highlighted that HMRC have collected £154M following investigations into ‘high-income...
Property Taskforce
A new property taskforce has been launched by HMRC to tackle “taxpayers” who are not declaring property income in North West...
I didn’t EXPAT that...
If you are a British Expat or a non-resident UK tax payer you will have no doubt seen the news headlines in recent months:
Off-target
HMRC’s Let property campaign, overseas bank accounts and low effective tax rates HMRC are stepping up their campaign trail to...
Nothing to Declare
The Liechtenstein Disclosure Facility (LDF) is an agreement entered into between the governments of Liechtenstein and the UK...
Accelerated payment of tax
Whilst these changes were announced in the Autumn Statement and subsequent consultation document, it was hoped the proposals...
TAP Year End Tax Tips
It is time to turn our attention to maximising the efficiency of your tax affairs in the lead up to 5 April 2014. Below are a...
Cayman Get It: HMRC target taxpayers with financial assets on the Island
Following the automatic tax information exchange agreement between the UK and the Cayman Islands, signed on 5 November 2013,...
Partnership Profit Allocations: All Mixed Up
It was announced in the 2013 Budget that a consultation document would be published, which focused on two main aspects of...
London Property Market On The Up
It has been reported in today’s press that London now surpasses New York as the leading city for property investment for foreign...
Breaking news: Capital Gains Tax Charges for Non-Resident Owners of UK Real Estate
Following the introduction of new laws in Finance Act 2013 regarding the ownership of UK real estate in a corporate vehicle, it...
File on time and avoid penalties!
It was reported in today’s FT that HMRC issued 915,000 penalties for late filed 2011/12 Tax Returns. This is likely to have...
Do your taxes need a health check?
HMRC have launched a tax amnesty for health professionals to disclose undeclared income.
Partnership Condoc: Breaking up is hard to do
As announced in the 2013 Budget, the Government is consulting on changes to two aspects of the partnership tax rules.
Property Sales Campaign
A new disclosure facility has been launched by HMRC, the Property Sales campaign.
Budget 2013: No alarms and no surprises?
There was little in this year’s Budget which had not already been leaked in the press it would seem. However, the devil as always...
Isle of Man to share information with HMRC
Isle of Man / UK Tax Agreement and Disclosure Opportunity As anticipated the Isle of Man (IOM) has signed a tax agreement with...
Can I have my tax back please?
If you believe you have overpaid tax or missed claiming some relief in an earlier year then you should reclaim this from HMRC...
Isle of Man to share clients bank information with the UK
A deal has been made with the Isle of Man which will see details of bank accounts held on the Island revealed to HMRC, under the...
Whistleblower reveals offshore HSBC accounts
According to a report in the Daily Telegraph, HM Revenue and Customs (HMRC), the UK tax authorities, have obtained details of...
Avoid late filing and payment penalties
It was well publicised that HMRC expected a windfall of up to £600 million as a result new late filing rules introduced last...
A Harsh Climate - HMRC windfall from new penalties
HMRC have announced a massive £600million windfall from individual taxpayers failing to submit their 2010-11 tax returns on...
Rental fun and (Olympic) games!
So you’ve secured your tenant, renewed your Gas Safety Certificate (I hope!) and organised your alternative accommodation as of...
UK Tax Residence, any clearer?
At present, an individual’s UK tax residence position is based on some limited statutory rules and a wealth of case law,...
File your old tax returns now to avoid large penalties
HMRC's latest campaign the 'Tax Return Initiative', was launched on 3 July, aimed specifically at higher-rate taxpayers who have...
SEIS - tax incentives for seed capital
In a welcome move from the Treasury, the Seed Enterprise Investment Scheme (SEIS) came into force on 6 April 2012. In essence,...
Pensions - Make your fixed protection pension claim by 5 April 2012?
The lifetime allowance is the maximum value a pension fund can be at your nominated retirement date without the excess being...
Budget Day is coming - time to top up your pension?
In the absence of a crystal ball, there is no way of knowing for sure how tax relief will be affected by the upcoming Budget on...
TAP Year End Tax Tips (2011/12)
As the 5th April approaches it is time to review your affairs and explore some of the opportunities available to reduce your UK...
Pensions - Don't waste unused tax relief!
Contribute more than £50,000 to your pension in 2011/12 AND get higher rate tax relief As of 6th April 2011, the government...
It's Tax Return time, again...
2010/11 Self Assessment Tax Return Filing The economic climate of recent years and austerity measures introduced by the...
EIS - EC Approval set to boost UK business and entrepreneurship!
Generous enhancements to the Enterprise Investment Scheme (EIS) were announced in this year’s Budget, however they were subject...
Business Structuring
TAP INTO TAX Iss. 3 The purpose of this series of blogs is to highlight innovative tax planning ideas, which you can ‘TAP’ into;...
E-marketplace trading (or not...)
HMRC have recently announced they will be focusing a new disclosure opportunity at people who use e-marketplaces such as eBay to...
Tax breaks for ex-pats working in the UK
TAP INTO TAX Iss. 2 The purpose of this series of blogs is to highlight innovative tax planning ideas, which you can ‘TAP’ into;...
HMRC 'Tax Dodge Task Force'
HMRC has announced the launch of new task forces to tackle ‘tax dodgers’ (their words not ours!). This announcement comes a...
New Tax Amnesty - Not just for plumbers!
HM Revenue & Customs (HMRC) have announced a new tax disclosure facility, the Plumbers Tax Safe Plan (PTSP).
