UK Autumn Statement 2015 An update for foreign domiciliaries and their advisers George Osborne has unveiled the 2015 Autumn Statement in conjunction with the Spending Review. Having vowed to create a surplus of £10 billion by 2020, the Chancellor cited “economic security” as the cornerstone of the Autumn Statement and Spending Budget. With the headlines…
DetailsWeariness prevails as UK’s autumn statement looms By Kirsten Hastings With the autumn statement looming large, industry leaders are speculating, with more than a small hint of weariness, about what the chancellor could announce this time. “Autumn statements have an existence of their own, independent and distinct from budgets,” said George Bull, senior tax partner at…
DetailsClick here to see our article in Private Client Adviser on isolating and preserving clean capital.:- Keeping it clean
DetailsThe Court of Sessions in Scotland have overturned previous Tribunal decisions and found in favour of HM Revenue & Customs. The judges have decided that payments by Rangers FC to the principal trust of an employee benefit trust amount to “a mere redirection of emoluments and earnings” and therefore were subject to income tax and…
DetailsMark Davies, Jon Elphick and Nick Beresford consider the benefits of unwinding an existing offshore structure. KEY POINTS What is the issue? Further changes are being introduced that will result in offshore structures owning UK residential property becoming less attractive from a tax perspective. What does it mean for me? These structures need to be reviewed to…
DetailsRecent figures obtained via a Freedom of Information Act request show that take up of Business Investment Relief rose dramatically in the year 2013-2014. Figures obtained by Mark Davies & Associates show that funds invested in the UK under BIR rose by 65% to £545m (rounded to nearest million), meaning that BIR claimants invested an…
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