Two 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…
DetailsOver the past week I have been asked by many journalists to comment on the tax affairs of Akshata Murty, the wife of Rishi Sunak. In this article I clarify the UK tax rules which underpin the controversy over her non-dom status. Domicile is matter of choice. There is an expression, “home is where your…
DetailsPolitical 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…
DetailsWhat is ROE? The ROE is the UK’s application of the requirement to register the beneficial owners of overseas companies that own UK land and property. It requires all companies owning UK land and property to provide details of their beneficial owners to Companies House; if suitable details aren’t provided, the entities will be prohibited…
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…
DetailsWith inflation rising and following the financial markets’ reaction to the not-so mini, mini-budget, Chancellor Jeremy Hunt’s Autumn Statement had to build global confidence in the UK economy once more. Put crudely, the tax-take had to increase and expenditure needed to decrease. At least the incumbent Chancellor couldn’t do any worse than his predecessor… After…
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