Considering the geopolitical instability and possible military escalation across the Middle East, clients have contacted us to discuss the possibility of returning to the UK. UK Tax Exposure An individual’s UK tax exposure is determined by their residency status in the current and preceding tax years. Residency is determined using the Statutory Residence Test…
DetailsWe are pleased to announce that Mark Davies & Associates has joined BAND Advisory Group, a trusted accountancy, business management, and advisory firm dedicated to delivering exceptional client service. This is an important milestone for our firm. By joining with BAND, we’re able to offer our clients access to broader expertise and resources across tax,…
DetailsFollowing drastic tax changes last year, speculation was once again widespread in the run up to Chancellor Rachel Reeves’ second Autumn Budget (even more so with the OBR’s fiscal report having been leaked half an hour ahead of the Chancellor’s speech). With Britain facing a fiscal gap (now a “£28.8 billion black hole”), as well as…
DetailsAlthough the non-dom regime has now been abolished, income and gains sheltered from UK tax under the remittance basis of taxation (“RB”) remain taxable if remitted to the UK. However, between 6 April 2025 until 5 April 2028 there is an amnesty where these funds may be remitted to the UK at a reduced rate…
DetailsAgainst a backdrop of global economic uncertainty and increased borrowing costs, Chancellor Rachel Reeves delivered her Spring Statement for 2025 today as she attempts to navigate the balance between long-term responsibility and meeting the immediate needs of the country. As expected, no major tax changes were announced. This may come as a welcome relief for…
DetailsIt is heavily mooted that Rishi Sunak is going to announce that he plans to significantly reform or possibly abolish inheritance tax (“IHT”). This is likely to be a talking point for quite some time. Therefore, we have provided some context to the potential reform below. Background IHT is levied on the death estate according…
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