Essential Tax Update on Budget 2015 for our international clients

An essential update for foreign domiciliaries and their advisers On 18th March George Osborne revealed his 6th and final Budget before the General Election. On the whole, there were few significant changes in personal taxation for the moderately well off.  The Chancellor set the tone when he said that the top 1% of earners will now…

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Draft Legislation for the Extension of CGT to Non Natural Persons

13 February 2013 On the 5th December 2012, the Chancellor delivered his Autumn Statement. A week later the draft clauses for the Finance Bill 2013 were published. Notable by its absence was the draft legislation for the extension of CGT to non resident non natural persons (the “extension to CGT”), which had been heavily anticipated.…

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Draft Finance Bill 2012

The 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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Budget 2013 – Tax Update

A 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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Budget 2012 – Residential Property Ownership

These 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…

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