Due to the uncertainty surrounding the outcome of the General Election it is considered that some may hold back buying properties at the top end of the capital’s luxury property market over the next few months. Experts believe a total of 86,000 London homeowners will be hit by Labour’s mansion tax, according to a new […]
Synopsis: Over 50 jurisdictions have signed up to the automatic exchange of tax information and will be required to commit to an annual exchange of all financial information automatically on a reciprocal basis with all other participating countries. The new OECD/G20 standard on automatic exchange of tax information has been endorsed by more than […]
TAX AVOIDANCE Synopsis: New OECD measures to prevent “aggressive” corporate tax avoidance. Another move that, as well as preventing avoidance, will impact on the attitudes and behaviours of individuals and those running companies in relation to tax planning Date posted: Monday, September 22, 2014 Recently proposed international tax rules could eliminate structures that have allowed […]
SCOTS LAW Synopsis: The referendum for an independent Scotland takes place on 18 September. If Scotland vote in favour of independence, this could have a number of serious tax implications for the UK as a whole. It is difficult at this stage, to assess exactly what these will be. However, we do know some of […]
TAXATION DEVELOPMENTS/DEVELOPMENTS IN TAXATION Synopsis: The latest HMRC data on tax receipts for the current fiscal year tell some interesting stories about how the shape of tax is changing and the Chancellor’s two way pull on a booming housing market. Date posted: Wednesday, August 27, 2014 Last week HMRC published showing how much had flowed into […]
Synopsis: Foreign acquisitions (aka “inversions”) are, it seems, substantially driven by a desire to lower tax Date posted: Tuesday, July 22, 2014 That tax has an impact on commercial decision making is well understood. That ‘taking it too far’ can incur the wrath of the revenue authorities is also well established. We have plenty of […]
SOCIAL SECURITY BENEFITS/PENSIONS – STATE BENEFITS Synopsis: HMRC has published draft regulations concerning eligibility for tax-free child care and how the scheme is intended to operate. The regulations are subject to technical consultation which runs until 3 October 2014. Date posted: Tuesday, July 15, 2014 The 2013 Budget announced the introduction of a new scheme, […]
THE 60% INCOME TAX RATE – IFS LATEST STUDY: IDEAS AND OPPORTUNITIES/IDENTIFYING THE OPPORTUNITY/SELLING THE PROBLEM The Institute for Fiscal Studies has criticised various aspects of the current tax system with the main criticism being directed at the 60% income tax rate suffered by higher earners. However, with a little bit of simple planning your […]
TAX AVOIDANCE Synopsis: HMRC has launched a new campaign with the aim of providing an opportunity for individuals in employment who have additional untaxed income from other sources to get up to date with their tax affairs in a simple, straightforward way. Date posted: Monday, May 12, 2014 In April, HMRC launched the ‘Second Incomes […]
CAPITAL GAINS TAX – FUNDAMENTALS Synopsis: The Government has launched its initial consultation following the Autumn Statement announcement that CGT will be extended to apply to non UK residents who dispose of UK residential property from April 2015. The consultation will run until 20 June 2014. Date posted: Thursday, April 10, 2014 In the Autumn […]
