Tax Plus Blog - Leaving the UK
EEC and tax avoidance
Date: 4th September, 2012 | Author: Cathy Corns | Comments: 0
The official journal of the EU has recently published an opinion on tax and financial havens, i.e. tax havens. I have to say the journal is worth reading, primarily for the rhetoric. Whilst it is accepted that governments to do not normally like tax havens, some of the phraseology is interesting, for example: “2.1 Tax havens are places where senior executives of the world’s largest financial and industrial corporations mix with figures from the artistic or social ‘jet-set’, together with multi-millionaires who combine business with pleasure. They all rub shoulders with somewhat...
Download Mercer & Hole’s summer edition of Tax Plus
Date: 25th July, 2012 | Author: Helen Price | Comments: 0
In this Summer edition of Tax Plus, we are delighted to bring you a selection of topical tax issues. Since our March 2012 Budget Special edition, we have seen further details from the government on pre-announced measures due to come into effect from April 2013. The most controversial of these is the plan to tax ownership of residential properties held within certain structures and we have prepared an article on this to explore the implications for you in greater detail. We also have articles on other government announcements in relation to placing additional PAYE obligations on certain companies and resurrecting the Statutory...
Residence Test: legislation at last
Date: 22nd June, 2012 | Author: Lisa Spearman | Comments: 0
This time last year we were disappointed with the deferral of the statutory residence test. Since then the omnishambles of the March 2012 budget, the huge amount of noise about pasties, charities and granny tax binned with recent furore re tax schemes meant the SRT has faded a little from the forefront of our minds but now it's back. The response document and the draft legislation was published on 21 June and in my view it was worth the wait. The legislation is in the format that we discussed last year and retains the three elements of test: Part A...
Holiday Homes Abroad
Date: 28th August, 2008 | Author: Barry Hallam | Comments: 0
It has always been a worry that those who buy holiday homes abroad through a company could be liable to a tax charge as a benefit in kind. In the 2007 Budget it was announced that the Government would introduce legislation to remove this possibility provided that there was no tax avoidance involved and all that the company did was hold the property. The legislation has finally made the statute book in the Finance Act 2008 and provided the conditions are met the exemption is deemed to have always had effect. H M Revenue & Customs have indicated that if tax has...
