Political point scoring over the non-dom tax regime has continued in recent times with shadow Chancellor, Rachel Reeves, pledging if elected, to reduce the time that the Remittance Basis can be accessed from 15 to 5 years. In this article we round up our response to the debate. Details of Labour’s plans remain in the…
DetailsRishi Sunak stood in front of the House of Commons with what appeared to be a relatively upbeat message. Whether the rhetoric becomes fact, only history will tell us, but at least there were no major surprises in the Autumn Budget and Spending Review 2021. No news is good news for non-doms and investors The…
DetailsToday Kwasi Kwarteng, the newly appointed Chancellor of the Exchequer, announced his first, albeit “Mini”, Budget. The speech confirmed some well publicised changes, but also included a number of eye-catching announcements aimed at stimulating investment and driving growth in a bid to tackle rising energy prices and the increased cost of living. We highlight below…
DetailsTwo years to the day since the UK went into its first “lockdown” and the Chancellor, Rishi Sunak, took to the stage once again. In a speech full of the traditional hyperbole and political phrases, his final “rabbit out of the hat” announcement of a first cut in the rate of income tax in 16…
DetailsIt is heavily mooted that Rishi Sunak is going to announce that he plans to significantly reform or possibly abolish inheritance tax (“IHT”). This is likely to be a talking point for quite some time. Therefore, we have provided some context to the potential reform below. Background IHT is levied on the death estate according…
DetailsThe Pandora Papers were the biggest release of offshore data to date, involving the leak of millions of documents in October 2021 by a number of offshore financial service companies. Letters have been issued to some individuals named in the Pandora Papers Having taken time to review the leaked information, HMRC have now begun the…
Details