OUR LATEST INSIGHTS

Blog1st May 2020

Offshore Assets, income or gains …any undisclosed tax liabilities?  HMRC offer ‘Time To Pay arrangements’ during COVID-19 pandemic

As 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…

Blog16th Apr 2020

COVID-19 Indirect Tax Measures in Europe

COVID-19 is a global issue and governments around the world are providing temporary tax breaks to help their struggling economies. Indirect taxes are a common area for reliefs to be applied.   

Blog14th Apr 2020

Take Investment Losses for Tax Planning Gains?

Investment values have taken a severe downward knock in recent weeks following the Coronavirus outbreak and a slump in oil prices. Whilst we all hope that the markets will recover reasonably quickly, the timing of this is uncertain to say…

Blog9th Mar 2020

Is COVID affecting your travel plans? Don’t let it also affect your tax residence position

Following the outbreak of Coronavirus, some employees are finding that they are unable to travel to their place of work overseas, mainly due to company imposed travel restrictions to various affected countries. These companies are clearly acting in their employees’ best interests, and…

Blog26th Feb 2020

The Death of Inheritance Tax as we know it?

A radical overhaul of the current UK Inheritance Tax (“IHT”) system has been recommended by a group of MPs. The All-Party Parliamentary Groups (APPG) for Inheritance and Intergenerational Fairness has published several bold suggestions which, if adopted, would represent the biggest change…

Blog13th Feb 2020

Pensioners and Portugal’s Non Habitual Residence Scheme – is the “Golden Visa” about to lose some of its brilliance?

It looks like time is about to be called, albeit initially gently, on the significant tax breaks enjoyed by many pensioners retiring to Portugal through the Non Habitual Residence Scheme (NHR).

Blog11th Feb 2020

The Scottish Budget 2020/21

The Scottish budget for 2020/21 has been delivered, but what does it mean for the Scottish taxpayer? 

Blog16th Jan 2020

Fishing Boats & HMRC’s Change of Policy on Tax Relief

For those in the fishing industry, the investment in a new boat is significant regardless of the size and scale of the fishing enterprise. The Capital Allowances (CA’s) regime on boats over the years has been generous, particularly as certain…

Blog14th Nov 2019

Big Brother is watching… HMRC issue letters to Investors in Offshore Collective Funds

HMRC have ‘bulk mailed’ letters to wealthy offshore fund holders, which is understood to be connected to their receipt of information from overseas jurisdictions and financial institutions, following global data sharing of information.

By Lynn Gracie

Blog17th Oct 2019

Tax Simplification…. But are we relieved?

Farmers and their families will most likely be aware of the important Inheritance Tax (“IHT”) reliefs currently available on the value of their businesses. Agricultural Relief (“AR”) and Business Relief (“BR”) can relieve the full value of the farming operation…

Blog8th Aug 2019

NHS Pensions – Government rethinks approach to Tax on pension growth for Doctors

What is the Issue?

Blog2nd Aug 2019

Simplifying the Design of Inheritance Tax

On 5 July the Office for Tax Simplification (“OTS”) published its second report on proposed reform and simplification of Inheritance Tax (“IHT”). The report suggests amendments to the existing IHT framework rather than tackling policy issues such as replacing IHT entirely…