Hidden Impact of Pensions becoming subject to Inheritance Tax
One of the biggest losers in the recent Autumn Budget was the personal pension pot left to the beneficiaries of an estate. But,...
All of our blog posts are shown below with the most recent shown first.
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...
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...
TAP shortlisted for Boutique Tax Accountant of the Year by eprivateclient
Today it has been announced that TAP have been shortlisted in the category of Boutique Tax Accountancy firm of the year in the...
HMRC win case on in specie contributions to a SIPP
HMRC have won the latest stage on a long running case into the availability of tax relief for contributions made in specie to...
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...
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...
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...
Budget 2018 – summary of key tax announcements
The Chancellor of the Exchequer today announced his final post-Brexit budget. From a personal tax perspective, the Budget...
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’...
Playing a Let
Rent-a-room is a tax relief available individuals who let out a room/s in their home whilst occupying the property at the same...
Overseas workdays relief – Expat Tax Back
Overseas Workdays Relief (OWDR) is a valuable tax relief available to non-UK domiciled taxpayers, which exempts employment...
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...
TAP Year-End Tax Tips
Please click here for our 2017/18 year end personal tax planning tips.
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...
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...
No more offshore
We anticipate that the Finance (No.2) Bill will be passed through to Parliament early this Autumn. Much of the Bill is concerned...
Welcome relief?
We have seen various Press articles of late highlighting the plight of those drawing on their pensions, and suffering...
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...
Offshore penalties and Tax Evasion
HMRC are continuing to increase the number of tools available to tackle offshore evasion and are taking an increasingly...
Discrimination Settlements and Tax
You work hard for your employer, however throughout your employment you are discriminated against, due to your age and...
White House Reveals Tax Plans
Yesterday President Trump revealed plans to significantly cut the tax rates for both individuals and businesses. There are few...
UK Property and Non-Resident Capital Gain Tax
We advise non-resident clients on how to manage their UK capital gains tax (CGT) position. Individuals who are not resident in...
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.
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.
IHT on UK residential property – look through to the future
Changes to the inheritance tax (‘IHT’) treatment of UK residential property were originally proposed in the Summer Budget 2015,...
(the last) Autumn Statement
The new Chancellor of the Exchequer, Philip Hammond, today delivered his first, and last, Autumn statement.
President Donald J. Trump - What tax changes can we expect?
This morning, Donald J. Trump won the US Presidential Election.
US Election Results : Are you now considering expatriation?
Prior to the US Presidential election we heard comments first hand and in the press from US citizens and green card holders that...
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...
2016 Budget Summary
Yesterday, George Osborne delivered what we consider to be a positive 2016 Budget.
Autumn Statement 2015
The Chancellor of the Exchequer, George Osborne, delivered his first Autumn statement as the Chancellor of a Conservative...
Pension Contributions – there’s still time!
The amount of an individual’s pension contributions which will qualify for higher-rate tax relief is essentially restricted by:
Penalty Suspensions
Careless inaccuracies The recent case of a self-employed locum pharmacist Mr Bharat Patel TC04617: BHARAT PATEL [2015] UKFTT 445...
EIS Relief – No income, no exemption
The FTT dismissed the tax payer’s appeal against HMRC’s decision not to allow a capital gains tax exemption claimed in respect...
Out of time rebate claims - Higgs v HMRC
A taxpayer wins case to claim a repayment exceeding the 4 year limit Mr Higgs made payments on account for the tax year 2006/07...
Budget 2015: TAP Private Client Update
The Chancellor of the Exchequer, George Osborne, delivered the first Conservative Budget since 1996 today.
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...
Renewals Basis Runs Out
It may have escaped landlords' attention that, as from 6 April 2013, HM Revenue & Customs have withdrawn the ‘renewals basis’,...
Business Property Relief on AIM Listed Shares
Investing in companies listed on the Alternative Investment Market (AIM) is often seen as an attractive prospect from an...
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...
Property Taskforce
A new property taskforce has been launched by HMRC to tackle “taxpayers” who are not declaring property income in North West...
LDF Update
Liechtenstein and the UK have signed a fourth joint statement updating the Liechtenstein Disclosure Facility (LDF). Our previous...
Off-target
HMRC’s Let property campaign, overseas bank accounts and low effective tax rates HMRC are stepping up their campaign trail to...
Know your options
HMRC are set to make a small but important change to the taxation of share options awarded to internationally mobile employees...
Unstable home? CGT for non-residents update...
It has been interesting to keep abreast of various responses to the proposed capital gains tax charge on non-UK residents over...
Accelerated Payments & Follower Notices
Overview of the proposals Whilst most in the tax profession may have viewed as inevitable from early this year when the...
Nothing to Declare
The Liechtenstein Disclosure Facility (LDF) is an agreement entered into between the governments of Liechtenstein and the UK...
Exercising options: Expats beware!
HMRC are set to make a small but important change to the taxation of share options awarded to internationally mobile employees...
Accelerated payment of tax
Whilst these changes were announced in the Autumn Statement and subsequent consultation document, it was hoped the proposals...
Budget 2014 – #Makers-Doers-Savers
The Chancellors’ 2014 Budget speech focused on delivering a message of a UK economy growing at a faster rate than any other...
Using pension arrangements in your business
It is often forgotten that pension funds can offer an alternative and tax efficient solution to buying commercial property.
TAP Tax Policy
The 2014 Budget is now less than a week away, and with increasing messages of improvement in the British economy and the General...
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,...
What a Relief – Tax Mitigation for Expats
UK tax rules applying to UK non-dom’s and expatriates have been subject to significant change since 6 April 2008. These changes...
ATTENTION / ACHTUNG / ATENCIÓN / UPPMÄRKSAMHET / Помните / ATTENZIONE / ATENÇÃO !!!!
2012/13 UK TAX RETURNS & LATE FILING PENALTIES This article centres around 2 key questions:
Tax Implications on Redundancy/Termination Pay: foreign service relief
It is always disappointing to hear news of redundancies, but sadly the likes of Reuters and Barclays have announced some fairly...
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...
EIS Planning: From the Cradle to the Grave
As you may know the landscape for personal tax planning has changed significantly since the introduction of the General Anti...
A BIR’d in the Hand
Or how to remit and make free investments The difference in the way the UK taxes its own citizens and non-UK domiciles...
UK Income Tax Reliefs ‘For the Class of 2013’
If you have recently started a new role with a UK employer following completion of your under graduate, and/or post graduate...
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...
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...
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...
Property Sales Campaign
A new disclosure facility has been launched by HMRC, the Property Sales campaign.
Is there Devil in the Detail?
Further to our previous article we now have the full draft legislation which will apply the new Annual Residential Property Tax...
HMRC turn up the heat
HMRC are busy reminding taxpayers with Swiss accounts that they only have until 1 January to make a full disclosure of their...
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...
A long time coming... changes to IHT for trusts?
In a welcome move, HMRC have entered into a consultation process concerning the inheritance tax (IHT) regime for trusts. This is...
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,...
