Portugal to end its Non-Habitual Resident (“NHR”) Tax Regime from 2024  

Portugal announces end of NHR Tax regime Last week, António Costa stated in an interview that he intends to phase-out the highly beneficial NHR tax regime by 2024. But, for now, there is good news, individuals who have registered for the scheme before 2024 will be able to continue to benefit for the foreseeable future.…

Details

Is it time to reform IHT? 

It 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…

Details

HMRC opens Pandora’s Box – What should I do if I am contacted about being named in Pandora Papers?

The Pandora Papers were the biggest release of offshore data to date, involving the leak of millions of documents in October 2021 by a number of offshore financial service companies. Letters have been issued to some individuals named in the Pandora Papers Having taken time to review the leaked information, HMRC have now begun the…

Details

Kwasi Kwarteng’s Mini-Budget

Today Kwasi Kwarteng, the newly appointed Chancellor of the Exchequer, announced his first, albeit “Mini”, Budget.  The speech confirmed some well publicised changes, but also included a number of eye-catching announcements aimed at stimulating investment and driving growth in a bid to tackle rising energy prices and the increased cost of living.  We highlight below…

Details

UK’s Register of Overseas Entities (“ROE”)

What is ROE?   The ROE is the UK’s application of the requirement to register the beneficial owners of overseas companies that own UK land and property.  It requires all companies owning UK land and property to provide details of their beneficial owners to Companies House; if suitable details aren’t provided, the entities will be prohibited…

Details