Blog
Rebuilding lives after brain injury: the role of the Court of Protection
Jemma Garside
3 December 2014
Autumn Statement 2014 - Remittance basis charge changes
George Osborne MP, the Chancellor of the Exchequer, has today announced changes to the remittance basis charge (“the RBC”) for non UK domiciled long-term UK residents.
The RBC is an annual charge payable by long-term UK residents who claim the remittance basis of taxation. Remittance basis taxation allows non UK domiciled individuals to pay income tax and capital gains tax on their overseas investment income and gains only if these income and gains are brought into the UK.
3 September 2014
Neither a borrower (with foreign income or gains used as collateral) nor a lender be…
Others may be on holiday in August, but not HMRC, who chose August 2014 to take taxpayers by surprise and change their stated position, with immediate effect, on the taxation of foreign income and gains used by UK resident, non UK domiciled individuals claiming the remittance basis (Remittance Basis Users - “RBUs”) as security for loans used in the UK.
28 May 2014
Artists need to be extra vigilant about tax in the current climate
Gary Barlow and two fellow Take That singers have found themselves in the spotlight this week after a judge ruled the musicians had invested in a scheme designed for tax avoidance purposes. Not only may they have to pay back millions of pounds in tax after the tribunal ruling but they have also suffered considerable reputational damage as a result.
This article first appeared in MusicWeek.
25 April 2014
Capital Gains Tax case - Painting worth £9.4 million is exempt from CGT because it is a ‘wasting asset’
The Court of Appeal has published its eagerly anticipated (by tax geeks at least) judgment in the case of HMRC v The Executors of Lord Howard of Henderskelfe (deceased) ([2014] EWCA Civ 278).
3 April 2014
Capital Gains Tax case - Car salesman successfully claimed Entrepreneur’s Relief on sale of business
In the First Tier Tribunal case of TC03273: Jeremy Rice, a car salesman was allowed to claim Entrepreneur’s Relief on the sale of his premises when he closed his business and started up elsewhere. The relief was claimed on the basis that it was a sale of a business asset within three years of cessation of trade.