CALLING ALL INDIVIDUALS DOMICILED IN INDIA, PAKISTAN, FRANCE AND ITALY! So, what do all of these countries have in common?  No, it’s not about holidays or food or distance from the equator or levels of rainfall during summer months.  It’s about tax, more specifically Inheritance Tax.  Please read on and all will become clear… 1) [...]

Originally published in Walls & Futures Limited’s newsletter “Provesco – Investment news and views for investors by investors” The non-UK domiciled individual has, for some time, enjoyed a magical tax status in the United Kingdom.  Whilst new legislation introduced over the last few years has eroded some of the benefits, the mythically named “non-dom” still [...]

Overview These days the government – Coalition or Labour – tends to consult about tax changes far more than in the past. It’s harder for the Chancellor to spring surprises on Budget Day, because many of his measures are no longer secret. Even so, every Chancellor seems to relish the theatrical occasion and wants to [...]

Benjamin Franklin famously said that the only two certainties in life are death and taxes. In these times of austerity, high taxes are an ever greater certainty but, happily, death is increasingly deferred as estimates of our longevity become more and more positive. Whilst the fact that people retiring today can look forward to almost [...]

In its Programme for Government, the Coalition promised to “create the most competitive corporate tax regime in the G20”.  In an article published in Barker Brettell’s Autumn newsletter, we discuss how the taxation of intellectual property may be improved in order to help the coalition fulfil its promise. Barker Brettell LLP are a leading firm [...]

Individuals on assignments to the UK can find their tax affairs become quite complicated, and tax returns will be required both in their home country and the UK. Assignment-related expenses, such as education, home leave and the cost of living, will be liable to UK income tax. Consequently tax itself may become the most significant [...]

Are you aware that it costs you, as an employer, £1.63 to put £1.00 into the average employee’s bank account? This increases to £1.91 if the employee is a higher-rate taxpayer. And these costs will increase further as income tax and National Insurance rates rise in the near future. Reduce employment costs and you can [...]

There was a distinction, years ago, for VAT between expenditure on entertaining UK customers and entertaining overseas customers. Input VAT could be reclaimed only on the cost of entertaining overseas customers.  That  distinction was dropped subsequently, in January 1993, and input VAT on all business entertaining was blocked. HM Revenue & Customs are reviewing currently [...]

When the share price is low, there is no better time to revamp, or set up a share remuneration scheme. Furthermore, National Insurance bills will increase by ½ per cent for employers and higher paid employees from April 2011. Share incentives are one of the few remaining benefits which can escape NI. The following ideas [...]

Business owners in the UK will be familiar with the conventional methods of extracting profits from the company, such as bonuses, dividends and directors loans. A more tax-efficient method could be via an Employee Benefit Trust (EBT). In this issue of Tax Matters, Friend LLP’s specialist tax advisers explain how EBTs work and identify where [...]