Under the remittance basis UK resident but not UK domiciled persons, “nondoms”, can take advantage of an alternative basis of taxation, commonly called the remittance basis. Where the remittance basis is claimed foreign sources of income or gains are not subject to UK tax unless they are actually remitted, used or enjoyed in the UK. Borrowing…
DetailsScots living south of the border may be able to claim non domiciled status if Scotland achieves independence. Mark Davies comments in the Financial Times: http://www.ft.com/cms/s/2/9cad3d18-381f-11e4-a687-00144feabdc0.html#axzz3DU59Szox
DetailsRecently, HMRC released updated guidance which clarifies the UK’s position on the existence of image rights, their assignment and the ongoing taxation of income derived from them. HMRC maintains that the concept of “image rights” does not exist in UK legislation and therefore tax treatment in relation to them is uncertain. HMRC considers that the…
DetailsRead Mark Davies’ recent article on tax and morality in Spears Magazine: http://www.spearswms.com/blog/moral-outrage-is-not-a-way-to-calculate-tax-bills/#.U-N8Ef5wbIU
DetailsRead Jon Elphick’s recent article as The Tax Doctor in New Model Adviser: http://citywire.co.uk/new-model-adviser/the-tax-doctor-residency-rules-relieve-divorcing-couple-of-cgt/a765456
DetailsBeyond Napoleon: Tax simplification should be every Chancellor’s aim The enactment of income tax as a temporary measure to deal with Napoleon is still with us — but we need to move on. In The Times this week (June 16), Charlie Elphicke, MP, a former tax barrister, was reported as proposing prosecution for tax advisers…
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