Mark Davies & Associates Ltd is collaborating with Andersen Global in the United Kingdom.
July 2012 The Budget 2012 saw the Chancellor announce a raft of measures targeted at tax avoidance on valuable residential properties. We had a new 7% rate introduced for residential properties worth over £2 million and a new super rate of 15% for any such properties “enveloped” by non natural persons. Despite the rhetoric about…
DetailsAm I a ‘nondom’? A ‘nondom’ is a term for someone who has a domicile in a country other than the United Kingdom. The rules on domicile are complex but broadly speaking you take the domicile of your father providing your mother and father were married when you were born or that of your mother…
DetailsJuly 2012 Executive Summary -Changes to the rules on temporary postings from the home State to other States (e.g. from the UK to Iceland or vice versa); -Changes to the rules for individuals who undertake activities in two or more States (e.g. in both the UK and Iceland); and, -Employers previously outside the scope of…
DetailsThese days the Budget seldom seems to pass without at least one sacrificial lamb offered up to appease the masses. In the past few years we’ve had attacks on non domiciliaries and high earners (read bankers). This year it was the turn of Stamp Duty Land Tax (“SDLT”). Media reports on SDLT avoidance techniques rose…
Details21 March 2012 Tax rates and allowances There is particularly good news for those currently paying tax at the additional rate of 50%. The Government has acknowledged that this rate is potentially damaging to the attractiveness of the UK ‘particularly as a significant number of those affected by the additional rate are internationally mobile’. Accordingly, with…
DetailsThe Draft Finance Bill 2012 was published on 6 December following the Chancellor’s Autumn Statement. For most non-doms the draft clauses signal good news, namely the simplification to their taxation as proposed in June 2011. However, on the downside, the delay to the long anticipated statutory residence test and the proposals to clamp down on…
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