The Spring Budget saw the Chancellor outline his fiscal plans for the UK for the next twelve months based around four key priorities: Employment, Education, Enterprise and Everywhere. Although Mr Hunt’s speech lasted almost an hour, there yet again appears to be very little immediate changes that could impact on our clients. Nevertheless, we have…
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…
DetailsHMRC have successfully challenged a taxpayer’s domicile of choice on death, such that the taxpayer was unable to benefit from the highly beneficial India-UK Double Tax Agreement (“DTA”). This article discusses how the First Tier Tribunal reached their conclusion and highlights the need to ensure that “intentions” can be substantiated on demand. Inheritance Tax (“IHT”) …
DetailsThe polls show that Labour are likely to form the next UK Government. For individuals claiming the remittance basis of taxation in the UK that brings uncertainty as Labour want to abolish the non-domicile (“non-dom”) regime. What is the remittance basis of taxation? Ordinarily, individuals who are tax resident in the UK are taxable on…
DetailsPortugal announces end of NHR Tax regime Last week, António Costa stated in an interview that he intends to phase-out the highly beneficial NHR tax regime by 2024. But, for now, there is good news, individuals who have registered for the scheme before 2024 will be able to continue to benefit for the foreseeable future.…
DetailsDespite rising anticipation in the press over the last week or two, today’s Autumn Statement appears to have delivered very little of note for our clients and their advisers, as Jeremy Hunt and Rishi Sunak avoided the temptation to please voters with any significant changes, such as the abolition of inheritance tax or cutting of…
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