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 targeting offshore company vehicles set […]
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 funds in offshore accounts, and […]
Budget 2017 – highlights and (more) lowlights!
Here is a summary of all the Budget 2017 proposals affecting mainly small and mediums sized businesses and private clients: Corporation tax: Offshore property developers: all profits arising on or after 8 March 2017 from trading in and developing land in the UK will be taxed in the UK. Substantial Shareholding Exemption: new rules will […]
