Introduction of Non-dom tax changes delayed Finance Bill 2017 will not include changes to the tax rules applying to non-doms and their offshore structures. The Government had intended to introduce new rules with effect from 6th April 2017 to increase the tax take from non-doms. To recap, the intended changes: Deem individuals who have been…
DetailsThe Chancellor of the Exchequer presented the 2017 Spring Budget yesterday, and whilst his actual speech was relatively benign, the backup policy documents contained some additional, more interesting comment. Amongst the brief comments provided was a statement identifying the government’s awareness of UK employers paying image rights payments under separate contractual arrangements to employment income.…
DetailsToday the Chancellor, Philip Hammond, delivered a budget to provide a ‘fair, stable and competitive’ tax system. But there were more jokes delivered at the expense of the Labour party than actual substantial changes to the tax regime. The changes which will affect the most people are in consequence of the recognition that the amount…
DetailsThere appears to be an increasingly common misconception in the media that international athletes set up image rights companies as a ‘tax dodge’ or part of a ‘secret deal’ in an illegitimate attempt to reduce their UK tax liabilities. In the author’s experience, such comments bear little resemblance to the requirements for any image rights…
DetailsHM Revenue & Customs has revealed how businesses, the self-employed and landlords will be hit by plans to modernise the tax system. Under HMRC’s plans to move recording and paying your tax online, most businesses, self-employed people and landlords will be able to keep track of their tax affairs digitally and update the document…
DetailsThe Law Society has learned that HM Revenue and Customs (‘HMRC’) intends to write to firms that advise clients on the establishment of offshore trusts and companies, seeking information about beneficial ownership. The letter will precede a formal Notice under Schedule 23 Finance Act 2011, which will compel the recipient to provide information. We…
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