Will HMRC recognise these exceptional days ?

We are living through exceptional days. Understandably, the spread of COVID-19 and the measures that have been implemented to delay its transmission mean that tax may not be at the forefront of people’s thinking. However, there may be significant tax consequences for those individuals forced to remain in the UK due to measures outside of…

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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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HMRC Certificate of Tax Position? What should you do?

HMRC have started to contact UK taxpayers about their offshore income and gains, showing that the UK’s participation in the Common Reporting Standard (“CRS”) is in full force.  What is the Common Reporting Standard? Over 100 countries have signed up to CRS and information regarding the level of income and gains earned by worldwide taxpayers…

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Why Dutch Sandwiches are off the menu in Overseas Territories and Crown Dependencies

Contrary to popular belief, international tax planning is not so much about avoiding tax. Usually advisers help their clients avoid being taxed more than once on the same profits. Use of Dutch Sandwiches or Subsidiary Companies It is not uncommon for a subsidiary company to pay local tax on its trading revenues, then declare a…

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