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Tax Plus Blog

Budget 2017 - International points worth noting

The government remains committed to tackling tax evasion and avoidance, aggressive tax planning and non-compliance. Those seeking to evade or avoid tax using offshore structures or arrangements are a continued target.  Double Taxation Relief (DTR) DTR is designed to ensure that taxation is not suffered in more than one jurisdiction on the...

 

Date: 23rd November, 2017
Author: Alison Palmer


Budget 2017 - Savings and investments

While several rumours have been reported around the content of the budget for savings and investments, the actual content confirmed details and tweaks to existing policy, rather than the sweeping changes that have been prevalent over previous years.  We have summarised these details below, together with our comment on the likely impact....

 

Date: 23rd November, 2017
Author: William Stevens


Budget 2017 - Property news for buyers, sellers and landlords

Over the past few years there have been a significant number of changes to the taxation of UK property, mainly residential. This continues to be a theme. First time buyers Following the introduction of the Help to Buy ISA in 2015, the government has announced a further measure to assist first time buyers. Residential properties acquired on or...

 

Date: 23rd November, 2017
Author: Alice Pearson


Is investment in the UK still alive?

First Brexit, then more tax changes appear to take at least some of the blame for hurting the UK economy. Sterling has depreciated and so, for some overseas investors, this has presented good investment opportunities. Some key changes to UK tax are expected to be legislated later this year. Below I comment on the impact of these and what now needs...

 

Date: 12th October, 2017
Author: Liz Cuthbertson


Regulatory changes: what to look out for in addition to tax issues

Tax planning is a key consideration for anyone investing in the UK but there are a number of regulatory matters which have recently been introduced, or will shortly be introduced, which must not be overlooked. The context is that in recent years, the UK has been at the forefront of the tax transparency agenda and is keen to ensure that global tax...

 

Date: 12th October, 2017
Author: Lisa Spearman


Update: Non-UK domiciles and IHT changes

Further to our email announcement on 26 April 2017 (please click here) the Government has announced that it will go ahead with the changes to the taxation of non-domiciles and the Inheritance Tax charges on UK residential property owned in trusts and companies. This includes the mixed foreign account cleansing and rebasing provisions. As...

 

Date: 26th July, 2017
Author: Alice Pearson


Double trouble

Since April 2015 non UK residents have been in the scope of Capital Gains Tax (CGT) on UK residential property and therefore it is more common than ever for a taxpayer to be subject to tax in two jurisdictions on the same income or gain. In nearly all cases double taxation will be relieved and the method will be dictated by the relevant tax treaty...

 

Date: 30th May, 2017
Author: Lynsey Lord


What to watch out for when disposing of a UK rental property

With the Buy-to-Let market booming, many people will dispose of a rental property in their lifetime. This article explores some of the factors which can affect the tax position on such a sale: Deductible costs The simplest way of reducing a capital gain is to ensure all costs of acquisition and sale are claimed together with any capital...

 

Date: 30th May, 2017
Author: Lynsey Lord


IHT exposure: Non UK domiciliaries and UK residential property

Non UK domiciliaries are only subject to UK Inheritance Tax (IHT) on their UK assets. Foreign assets are treated as excluded property, which are outside the scope of UK IHT while they are neither domiciled nor deemed domiciled in the UK (broadly once they have been resident in the UK for more than 15 out of the previous 20 tax years, under the...

 

Date: 30th May, 2017
Author: Alice Pearson


UK Property – still the real deal?

Despite post Brexit fears, real estate property investment continues although there seems to be a consensus that prime parts of London have slowed down. Further tax complexity for real estate purchases has not cooled down and, from 6 April 2017, all UK residential property is in the scope of UK inheritance tax, regardless of the vehicle it is held...

 

Date: 2nd May, 2017
Author: Liz Cuthbertson


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