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Mark Davies in the Telegraph on Offshore Income and Gains letters

Articles and Publications, MDA in the News, Offshore Trusts and Structures, Press Releases and Commentary, Taxation of Nondoms

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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HMRC Certificate of Tax Position? What should you do?

Investigations, Offshore Trusts and Structures, Tax Updates, Taxation of Nondoms

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

Articles and Publications, Image rights, MDA in the News, Press Releases and Commentary, Taxation of Nondoms

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

Offshore Trusts and Structures, Press Releases and Commentary, Taxation of Nondoms

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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Mark Davies reveals a warning for non-doms in ePrivateClient the leading online news service for private client practitioners.

Articles and Publications, Investigations, MDA in the News, Offshore Trusts and Structures, Press Releases and Commentary, Property Holding Structures, Taxation of Nondoms, Uncategorised

There is a stark warning for non-doms with offshore structures in HMRC’s recent publication “No Safe Havens 2019”. Last year HMRC received 5.67 million records of UK tax payers’ offshore bank accounts under the Common Reporting Standard. They correlated these with the tax return submissions and property sale information of 500,000 individuals. Illegal tax evasion…

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Mark Davies comments in American Ex-Pat Financial News Journal

Articles and Publications, Taxation of Nondoms

American ex-pats may be interested in the Chancellor, Phillip Hammond’s recent Spring Statement which unveiled two new publications on the subject of Tax Avoidance. In the American Ex-pat Financial News Journal, Mark Davies comments on the costly effects of honest mistakes for ex-pats living in the UK. Read the article here:- https://americanexpatfinance.com/news/item/133-uk-again-vows-crackdown-on-offshore-tax-evaders-in-spring-statement      …

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