IMPORTANT NON DOM UPDATES NON UK DOMICILED INDIVIDUALS – IMPORTANT UPDATE Further to the Summer Budget on 8 July 2015 and an extended period of consultation, there are now more…
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BUDGET UPDATE – 8 MARCH 2017 The following is a brief summary of the, fairly uneventful, 2017 budget: NATIONAL INSURANCE CONTRIBUTION (NIC) CHANGES The Government has announced plans to close…
Read MoreMaking Tax Digital
Another far-reaching change on the horizon is the HMRC initiative “Making Tax Digital” (MTD). The basic idea is that HMRCare receiving information electronically from more and more sources (for instance…
Read MoreST Catherine’s Hospice Midnight Walk 2015
On the Saturday 27th June 2015 the ladies of British Taxpayers walked 13 miles through the night in order to raise money for St Catherine’s Hospice. The local hospice provides…
Read MoreBudget Commentary 2015
Income Tax Personal Allowance and Age Allowance Personal Savings Allowance Bad debt relief on peer to peer lending Use of Foreign Assets as Collateral for a Loan Increase in the…
Read MoreThe Budget 2013
The focus of the Chancellors 2013 Budget was to assist businesses, employers and workers, as well as giving a firm warning to those in the business of tax avoidance. As…
Read MoreRemittance Basis
We have recently received confirmation from HMRC that they intend to contact taxpayers whom used the Remittance Basis of taxation in the tax year ended 5 April 2012. It is…
Read MoreTax Transparency
The Isle of Man is the first jurisdiction to agree to an automatic exchange of information with the UK. The agreement which comes into play September 2016, will see information…
Read MoreSecond hoME Amnesty Ending 6th September 2013
Individuals whom have sold a second property, on which Principal Private Residence (PPR) relief, was not fully available have just one week to come forward under the second home amnesty….
Read MoreLoan to Paticipators
HMRC have long had a dislike of loans made to the directors/shareholders of close companies, and their suggestions in the July consultation represented their feelings. Under the current legislation loans…
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