The Telegraph – If Corbyn gets in, we are sending our money to Switzerland

  Corbyn forcing people to move money offshore before Election Day Wealthy individuals are fearful that Jeremy Corbyn will be the next Prime Minister of the United Kingdom causing their wealth and the value of GBP to depreciate. As such these individuals have opted to transfer their money offshore ahead of the general election on…

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Tax relief on property – some advice from Tom Trewby in the Financial Times

Tax relief on property is discussed in the Financial Times this morning, as one reader poses the question – “If I convert a barn on my farm estate into a house for my son to live in, can I claim tax relief on the conversion?” Tom Trewby advises that costs cannot be offset against farming income,…

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Mark Davies in the Telegraph on Offshore Income and Gains letters

In Monday’s Telegraph Laura Miller explores the repercussions of returning a signed offshore income and gains letter to HMRC. https://www.telegraph.co.uk/tax/return/dont-sign-dotted-line-warning-hmrc-letters-could-trigger-tax/ In this article Mark Davies explains that signing the disclosure might prevent a taxpayer from being able to claim an unprompted disclosure of a mistake, which would lead to higher penalties. He also warns that…

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Hull “Tigers” v HMRC ruling in Accountancy Daily- our advisers examine its lessons

In Accountancy Daily on 1st July, Jon Elphick and Sian Armitage examine lessons from the recent ruling in the AFC Hull “Tigers” v HMRC First Tier Tribunal. Read the article here:- https://www.accountancydaily.co/football-players-image-rights-taxable-earnings The tribunal ruled that Hull’s payments for the image rights of one of its high profile footballers, Geovanni Gomez, constituted a golden hand…

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Image Rights – a Guide for Tax Advisers examined by Jon Elphick in Taxation Magazine

The recent Hull AFC versus HMRC tribunal judgement has been examined in an article by Jon Elphick which was published in Taxation magazine. https://www.taxation.co.uk/Articles/image-rights-and-hmrc Jon’s  analysis centres on “Geovanni” who is a well known, retired Brazilian footballer. He was signed to Hull City AFC Tigers in 2008 by way of an employment contract. However, his…

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A plea for a Who’s Who? of Highly Compliant Lawyers

In the aftermath of the Panama/Paradise Papers, the International Bar Association (IBA) and the Secretariat of the Organisation for Economic Co-operation and Development (OECD) have issued eight principles for the legal profession to follow. Few people would disagree with Principle 1 that ‘you should not unwittingly help a client hide illegal conduct’, or Principle 3…

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