Blog10th Jun 2021Are you a non-UK resident individual that needs to complete UK Self-Assessment Tax Return?If yes, then did you know HMRC’s online facility does not allow individuals to complete UK Self-Assessment Tax Returns (SATR) if they are a non-UK resident person? View more
Blog4th May 2021One third of Scottish taxpayers are unaware of tax changes made by the Scottish Parliament6 April 2021 signalled the start of another new tax year. Perhaps an appropriate time therefore to reflect on a recent review of awareness amongst Scottish taxpayers which found that 33% of those surveyed were unaware that the Scottish Parliament…View more
Blog26th Feb 2021Brexit changes for UK residents with EU propertiesFollowing our previous blog on the personal tax impact of Brexit, it seems those who own property in France or Spain may be particularly affected by Brexit.View more
Blog14th Jan 2021Could Wealth Taxes be an option to pay for the COVID-19 deficit?The Wealth Tax Commission have now published their final report which considers whether a UK Wealth Tax should be introduced, and if so, how this could be applied. Although the Chancellor was quoted in July 2020 as dismissing the introduction…View more
Blog26th Nov 2020Investigating Inheritance Tax – HMRC haul hits four year highHM Revenue & Customs (“HMRC”) has recently reported a 4-year high in Inheritance Tax (“IHT”) revenues after collecting an additional £274m as a direct result of more than 5,000 investigations during the 2019/20 tax year. This amounts to an average…View more
Blog4th Nov 2020Extension of the Self Employment Income Support Scheme Grant*Updated 11 January 2021* The furlough scheme was due to end on 31 October but following the announcement that England is to enter another period of lockdown, this has been extended until March 2021. On the back of this, the…View more
Blog26th Oct 2020Sold UK property in 2018/19? You could be next on HMRC’s ‘hit list’HMRC have confirmed they will be issuing over 14,000 letters before 30th November to individuals who have sold a UK property in 2018/19, that didn’t appear to be their main home and which could therefore potentially be subject to UK…By Lynn GracieView more
Blog13th Oct 2020HMRC have undeclared holiday letting income in their sights…The 2019 financial statements for Airbnb have recently been published and include a note confirming that it will share data with HM Revenue & Customs (“HMRC”) about the letting income earned by its hosts in the 2018 and 2019 tax…View more
Blog1st Oct 2020Relocating from or to the US? Here are the key tax situations to be aware ofIndividuals relocating from, or to the US can face particularly challenging tax situations when compared to other jurisdictions, not least dual reporting requirements and very conflicting approaches to taxing the same sources of income or gains.View more
Blog24th Aug 2020Moving Overseas to Save Tax? This could be more taxing than you think…After weeks of lockdown, and searching for some much needed escape from COVID news, I came across BBC 2’s latest documentary “Inside Monaco: Playground of the Rich”. It allowed for a fascinating insight into this country which has extraordinary wealth,…View more
Blog19th Aug 2020Capital Gains Tax – What will be the ‘next normal’?Since March 2020, the UK government has provided significant financial support to families and businesses to help support them through the COVID-19 pandemic. Although the country is not out of the woods yet, the economy is starting to reopen and…View more
Blog1st May 2020Offshore Assets, income or gains …any undisclosed tax liabilities? HMRC offer ‘Time To Pay arrangements’ during COVID-19 pandemicAs we have documented in earlier blogs (captured below), ownership details of offshore assets, income and gains have been directly provided to HMRC, via exchange of information agreements with hundreds of overseas countries in the last 2 years. HMRC now…View more