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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.

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Finance Act round-up

The Finance Act passed into law as expected on 17 July 2013, and is perhaps best summed up as an anti-avoidance bill. There are some positives, however, and we have sought to draw out the good and ...

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Home is Where the Charge is

The Annual Tax on Enveloped Dwellings or “ATED” regime is now upon us, and could end up being a first step towards a so-called mansion tax in the UK.

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US citizens and green card holders renouncing citizenship

As reported in the Wall street Journal last week, figures show the number of US citizens renouncing their citizenship is on the rise.

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Non-doms in the spotlight

As recently reported in the FT*, those claiming non-domicile status in the UK may well receive a letter from HMRC gently reminding them that non-UK income/gains which they remit to the UK are ...

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A Gift Horse...

HMRC have again intimated that they are comfortable with the concept of so-called "Discounted Gift Trusts" which can be used as part of an inheritance tax mitigation strategy.

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Foreign Account Tax Compliance Act (“FATCA”) Update

Draft forms received

The IRS has received for public comment, draft versions of three forms which will be required in the compliance with FATCA. This is a much anticipated move that many ...

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Filing your Report of Foreign Bank Accounts

Form TD 90-22.1 FBAR

This is a reminder that, the deadline for filing the 2012 Report of Foreign Bank Accounts (FBAR) is 28 June 2013. If you would like assistance with your taxes please contact the ...

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June 17 - Time for those abroad to file their taxes!

For US citizens and resident aliens residing overseas the due date for tax filing is fast approaching.

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Overseas Workdays Relief – HMRC updated guidance

HMRC have issued revised guidance on the Statutory Residence Test and the operation of Overseas Workdays Relief (OWR) in this “brave new world”.

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