Tax Advisory Partnership

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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 have previously been disclosed.

October 17, 2019 by Jamie Favell in HMRC threats , offshore gains , overseas assets , criminal offence , non-dom , offshore non-disclosure , Offshore Income Gains , failure to disclose

IRS and HMRC targeting crypto investors

We are finding increasing number of clients are investing in cryptoassets and we are aware that for past tax years there has been little clarity as to how gains and losses on these investments should ...

August 14, 2019 by Sophia Passingham in crypto assets , crypto hmrc , crypto income , crypto tax , cryptocurrencies , IRS crypto letter

Significant changes to taxation of gains on sale of UK property

Finance Bill 2019-20 confirms expected changes to Private Residence Relief and lettings relief

July 12, 2019 by Sophia Passingham in property tax , disposal of UK property , capital gains tax , rental property gains

IRS to publish guidance on taxation of cryptocurrencies

The IRS has announced that it will soon publish new detailed guidance on how the cryptocurrencies should be treated for US tax purposes. The existing guidance has not been updated since 2014.

May 22, 2019 by Sophia Passingham in bitcoin , cryptoasset , US Tax Reform , cryptocurrencies

TAP features in Top Accountancy Firms 2019 list

We are delighted to have learnt today that Tax Advisory Partnership has been officially recognised as a Top Accountancy firm for Private Clients in 2019, by ePrivateClient. The list includes 32 well ...

May 20, 2019 by Tax Advisory Partnership in Private Client Tax , Press Releases

HMRC access offshore financial information

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 further commentary and of particular interest to our non-domiciled ...

March 14, 2019 by Jamie Favell in Non-Dom Tax , Private Client Tax , Client News

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 previously been disclosed to HMRC. This letter has been sent because ...

February 14, 2019 by Jamie Favell in Current Affairs , foreign income , HMRC threats , information exchange , Non-Dom Tax , offshore gains , overseas assets , overseas income , Private Client Tax , undeclared , WDF , criminal offence , foreign gains , offshore income , overseas gains , Press Releases , Worldwide Disclosure Facility

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 the tax implications of being dual resident in the UK and Switzerland.

January 11, 2019 by Jamie Favell in Current Affairs , Private Client Tax , Client News , tie-breaker test , Tax Planning , UK Swiss , DTA Swiss UK , Newsletter , Swiss residence , swiss uk tax

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 applies to access the remittance basis for those who have been resident ...

January 9, 2019 by Jamie Favell in Current Affairs , offshore gains , Private Client Tax , Client News , rebasing , offshore tax , remittance , tainted capital , tax cleanse , cleanse mixed funds , mixed fund cleansing , tainted funds , Tax Planning , untaxed remittance , income capital funds

HMRC publishes guidance on cryptoasset investments

HMRC has recently published guidance for UK resident individuals on the potential liability to UK taxes that may arise on receipt or disposal of cryptoassets. The guidance is mainly concerned with ...