HMRC target non-resident corporate landlords

HMRC target non-resident corporate landlords…  HMRC have started sending letters to non-resident corporate landlords owning commercial property in the UK that have not previously filed tax returns.    HMRC suspect that these companies are likely to be in receipt of rental income (or possibly business profits attributable to a permanent establishment) that have not previously been…

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HMRC opens Pandora’s Box – What should I do if I am contacted about being named in Pandora Papers?

The 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…

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Further tax rises looming? Mark Davies comments in The Telegraph

This week The Telegraph reported on recent findings from the Institute of Fiscal Studies which calculates the UK tax burden to be reaching a 70 year high, prompting fears across the political spectrum, of an exodus of the mobile rich to more favourable tax jurisdictions. Further Tax Rises Loom – Mark Davies comments Mark Davies…

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Estate Planning using Double Tax Agreements – Should you be doing more?  

HMRC 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”)   …

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