Blog
Rayner my parade! The importance of specialist advice.
Jemma Brimblecombe
12 April 2023
Capital Gains Tax – What do the changes mean for you?
Chancellor Rishi Sunak has asked the Office of Tax Simplification to review Capital Gains Tax (“CGT”). CGT is charged on the profit/increase in value on sale or gift of assets. The rates are 18%-28% on disposals of residential property and 10%-20% on other assets. There’s an annual exemption of £12,300 per taxpayer. Disposal of your main residence is tax free and “Entrepreneurs Relief” may see the first £1million of the gain on the sale of a business charged to CGT at the lower rate of 10%.
23 January 2023
HMRC steps up its investigations on inheritance tax
The Telegraph recently reported that HMRC is “targeting bereaved families with a raid on inheritance tax after it clawed back a record £326m through investigations last year”. This will be a worry to many families, given that Inheritance Tax (IHT) is arguably no longer just a tax on the super wealthy.
1 September 2022
How would my UK tax be affected if I work in the UAE?
How can I ensure I’m not considered a UK tax resident? Stephanie Mooney features in the Financial Teams Q&A.
26 March 2020
What a difference a day count makes: The implications of the Coronavirus pandemic on the UK tax status of non-domiciled individuals
International clients with a UK footprint often like a good spread sheet: specifically, a spread sheet covering their days spent in the UK and those spent overseas in the period 6 April to the following 5 April. This period is the UK tax year, and well-advised international clients – those considered neither resident nor domiciled in the UK - are all too aware that not keeping track of their UK day count may make them UK resident and within scope of UK income and capital gains tax on their worldwide income and gains. Numbers matter.
26 February 2020
Equal civil partnerships finally allow equal access to tax and inheritance perks
Legal recognition of relationships has dramatically changed in the UK and across most western countries. With an urge for equality and to recognise same-sex relationships, the government first introduced civil partnerships for same-sex couples in 2005 and subsequently same sex-couples could legally marry from 2014.
