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Companies House security issue: What your business should do now
Bethany Hall
In this blog, we outline the tax implications of Bowring v HMRC, which concerned a scheme to reduce CGT on capital payments by a trust.
We recently outlined the proposed changes to the non-UK domicile (non-dom) tax regime following the publication on 19 August 2016 of HMRC’s latest consultation document. The consultation makes it clear that there will be a window of opportunity for individuals who will become deemed domiciled in April 2017 to plan for these changes, albeit a short one. We have outlined our initial thoughts on what the planning opportunities may be.
The latest round of consultation on the changes to be made to the non-dom tax regime was released on Friday. The changes are to come in on 6 April 2017 and will mean that non-doms are deemed to be UK domiciled for all tax purposes after 15 years of UK residence. There will also be look through provisions for UK residential property held in offshore structures.
Tax is rarely at the forefront of people’s minds at the end of a relationship. However, the breakdown of a relationship offers some tax planning opportunities which can reduce the tax payable on transfers of assets made as part of a divorce settlement and can affect how the settlement is structured.
If there is a word that captures the post-Brexit world, it is uncertainty. No-one likes the u-word. However, as the big day approaches and a Brexit becomes a real possibility, there is at least one area in the succession field that would become clearer if we leave the EU: whether the UK is a member state or a third state under the EU Succession Regulation (ESR).
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