Beyond Compliance: Technical & Advisory Insights
VAT and Biscuits: One Millimetre From a 20% VAT Bill!
Food keeps us alive, so basic nutrition really shouldn’t attract VAT. This principle sits at the heart of the UK VAT system. Whilst supplies of food are technically taxable, they are zero-rated under Schedule 8 of the Value Added Tax Act 1994 (VATA 1994). “Food of a kind used for
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
Enterprise Risk Management
The economic turmoil of the recent past has raised fresh questions about the effectiveness of risk management methods employed by corporations. Whether it was the introduction of the US GAAP following the great crash of the late 1920s or Sarbox after the Enron collapse, historically, we greeted every crisis with
Sale of land and property in India – tax consequences for non resident Indians
Non-resident Indians, whether Indian nationals or British nationals of Indian origin, if they are resident in the UK for tax purposes, are liable to UK tax on their worldwide income and/or gains, except in some very rare circumstances. Basically if you are resident in the UK, you will normally be
