Crackdown on tax avoidance – Mark Davies comments in the Financial Times

Financial advisers and accountants have raised concerns about the scope of a new crackdown on tax avoidance by the UK tax authorities, fearing it could deter clients from seeking legitimate advice on tax planning. HMRC warned this week that those promoting aggressive tax avoidance schemes to their wealthy clients could face hefty fines in a move to…

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Update on the proposed changes to the UK taxation of Non-Doms

The UK government has today released a consultation document providing additional details on the proposed changes to how UK resident non-domiciled individuals are to be taxed.  The consultation confirms the government’s intention to reform the UK tax rules and bring the tax position of UK resident non-doms more in line with that of UK domiciled…

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Mark Davies calls for tax simplification in ‘International Investment Magazine’

Wealth managers, accountants, lawyers, tax specialists and others involved in helping British clients to save and invest their money in a tax-efficient manner expressed general support for the ideas behind the British Government’s latest proposals to crack down on illegal tax avoidance. ‘Bad news for taxpayer’ Mark Davies is managing director of London-based Mark Davies…

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Playing the game: UK’s approach to taxing sports stars

Successful athletes need well-considered tax planning.  This is especially so for athletes who compete internationally, as doing so can add layers of complexity to their tax liabilities.  This article offers a high level examination of the UK’s approach to taxing sports stars. It looks at the position of both athletes who are “resident” in the…

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Could there be a silver lining for non-doms in the aftermath of Brexit?

Mark Davies looks at the repercussions for non-doms in STEP news. The UK referendum vote to leave the European Union casts significant doubt on the Summer Budget 2015 reforms to the taxation of non-domiciled residents, according to experts. None of the planned reforms were included in this year’s Finance Bill, the government’s intent being to…

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