tax advice

UK professional requires tax advice on Indian savings

tax advice

Case Study2nd Feb 2022

Related services

Our Client 

A high-profile professional who moved to the UK to study and start a career required advice around tax on savings accounts held in India following an invitation from HMRC to clarify funds.  

Our Approach 

  • A full review of her residence and domicile position 
  • A full disclosure of all interest using HMRC’s offshore disclosure online facility 

 The Outcome 

  • Significantly reduced the number years HMRC could assess  
  • Reduced the tax liability 
  • Reduced penalties – which could have been up 200% of the tax due 

Sign up to updates

  1. Blog17th Jan 2023

    Lynn Gracie, Private Client International Tax Director, Professional headshot

    The hidden tax pitfalls of cryptocurrency

    If cryptocurrencies are not the most popular form of investment, they are almost certainly the most talked about. And no wonder – it’s thrilling stuff. Cryptocurrency is relatively new and mysterious to many people. A tantalising balance of high risk…

    By Lynn Gracie

    View more
  2. Blog28th Nov 2022

    Lynn Gracie, Private Client International Tax Director, Professional headshot

    HMRC gain yet more visibility to Digital & Offshore Assets

    It is well documented that global tax jurisdictions are struggling to keep tabs on the digital economy. It is therefore unsurprising that countries are keen to work together to help them pin down individuals and businesses who are not reporting…

    By Lynn Gracie

    View more
  3. Blog7th Nov 2022

    Young professionals in an office

    “Keeping up”… with Crypto

    With an increasing number of younger people trying their hand at crypto investments, the recent US Securities and Exchange Commission (SEC) fine, suffered by social media influencer, Kim Kardashian, should probably come as a warning to everyone. Kim was ordered…

    By Lynn Gracie

    View more
  4. Blog19th Aug 2022

    Making Tax Digital for Income Tax Self-Assessment

    From 6 April 2024, Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) will apply to self-employed individuals and landlords with total business and/or property income above £10,000 per year. Under MTD for ITSA, taxpayers caught by the regime will…

    By Lynn Gracie

    View more

Share this page