The increasing desire to eliminate tax evasion has marched on this week, led by representatives from the G5 who have agreed to a new initiative. In a letter dated the 9 April 2013 to the EU tax commissioner, the G5 ministers declared their agreement for a pilot scheme whereby a wide range of financial information…
DetailsApril 2013 We are pleased to announce that MDA has recently been recognised as the Estate Planning Firm of the Year by Finance Monthly. The full awards can be found here and we can be found on page 33.
Details22 March 2013 The extension to CGT is the second prong to the Chancellor’s attack on what HM Treasury felt was unacceptable SDLT avoidance using companies to hold residential properties. The first prong of course was the Annual Charge (now renamed the Annual Tax on Enveloped Dwellings or “ATED”). Much has been written on the…
Details22 March 2013 Taxation of High Value Residential Property The Budget on 20th March 2013 did not include any significant changes to the new tax charges in respect of UK residential properties worth more than £2 m, with the exception of renaming the Annual Residential Property Tax (“ARPT”) to the Annual Tax on Enveloped Dwellings…
Details28th March 2013 As confirmed in the 2013 Budget, a statutory residence test will be introduced with effect from 6 April 2013. Ordinary residence will also be abolished for most tax purposes from this date. How will the new residency rules affect our clients? Clients who are already resident in the UK are unlikely to…
DetailsA Tax Update from Mark Davies & Associates Ltd Budget 2013 20th March 2013 Limitation of deduction of debts for IHT A surprise announcement, on which no consultation has been carried out, are the new rules which will prevent certain debts from being an allowable deduction against IHT on a person’s estate. Debts targeted under…
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