Beyond Compliance: Technical & Advisory Insights
Selling UK property from abroad? Here’s how UK capital gains tax really works
Non-UK residents historically didn’t pay capital gains tax on disposals of UK situs assets. However, between 2013 and 2019 this position got fundamentally altered, with the UK gradually extending its CGT taxing rights over non-UK residents in respect of specific categories of UK assets. It all started with the government
Tax and company law consequences of unlawful distributions (‘illegal dividend’)
What is a dividend? The term ‘dividend’ is not explicitly defined in the Companies Act 2006 (“the Act”); instead the Act refers to ‘distribution’ (s.829 CA 2006) which is defined very broadly. However, dividend as a term does indeed feature in the Act in a different context in s.548, and
Offshore Affairs, HMRC Nudge Letters, and the Worldwide Disclosure Facility: What You Need to Know
As many will be aware HMRC nudge letters have been doing the rounds for quite some time now. Many taxpayers, even those with a modest sum of interest income earned in an offshore location will have received a letter from HMRC stating they hold information that the recipient has undisclosed
Self Assessment tax return 2025-26: Stay Ahead of the Curve
Now that we’re past 05 April 2026, it’s time to get on with the 2025-26 self assessment tax return in the UK. The tax landscape has undergone some changes in the recent past which affects how the 2025-26 tax return gets prepared. For those with offshore income and gains, self-employed
Navigating the MTD roll out
Today, April 6, 2026, marks a monumental shift in the administration of income tax in the UK, as HMRC commences the statutory rollout of Making Tax Digital (MTD) for Income Tax. This change represents the start of a major overhaul of the self-assessment regime in a generation. The Legislation The
Ignorance of tax law is bliss – the reasonable excuse debate
For many years, it has been impressed upon tax advisers that the Latin legal maxim Ignorantia juris non excusat (ignorance of the law is no excuse) provided no defence in tax cases. Historically, a failure to keep abreast of statutory tax obligations has provided no safeguard against penalties. However, the
UK LLP vs. UK Limited Company
Often businesses need to decide what sort of an organisation structure suits them best. Various choices often get narrowed down to one between a limited company and a limited liability partnership. Here are some areas that could be looked in to whilst making that choice. Private Limited Company Limited Liability
Security by defaulting PAYE employers
S.85 of the Finance Act 2011 introduced amendments to s.684 of the Income Tax (Earnings & Pensions) Act 2003 as follows: “4B Provision that in specified circumstances a person may be required to give security, or further security, for the payment of amounts in respect of which the person is
Bona Vacantia and company strike-off
Once formed, the law regards a company as an artificial legal “person” with rights and obligations distinct and separate from those who formed it. A company can own assets in its own name like any other person can do. And the company never dies, only its existence gets terminated either
