BIDEN’S US TAX REFORMS LOOK SET TO INCREASE TAXES FOR HIGH INCOME US PERSONS LIVING IN THE UK
Following the passing of President Biden’s infrastructure plan attention in Congress will be turning towards a budget reconciliation that is expected to …
BIDEN’S US TAX REFORMS LOOK SET TO INCREASE TAXES FOR HIGH INCOME US PERSONS LIVING IN THE UK
Following the passing of President Biden’s infrastructure plan attention in Congress will be turning towards a budget reconciliation that is expected to …
In September 2019, the IRS announced new relief procedures to support former US citizens to come back into compliance with their US tax filing obligations and avoid any potential “Exit tax”.
The program allows taxpayers to become US tax compliant …
There are many misconceptions about the tax implications of making gifts. Consequently, efficient methods may not be utilised in gifting which may result in an avoidable tax bill. From exemptions and allowances, to capital gains taxes, we explore the different …
Many businesses and taxpayers find themselves forming foreign corporations, either with the intention of expanding into a global marketplace or, in the case of many of our clients, because they live outside of the United States.
One of the most …
On the 11th March 2020, The Chancellor of the Exchequer, new in the post, Rishi Sunak, presented his Budget to Parliament to much acclaim – more so for the performance rather than the content, appreciation of which probably depends on …
US citizens used to be able to take advantage of a tax loophole by investing in foreign mutual funds. These offshore investments were able to defer the US imposition of mandatory distributions, which resulted in the deferral of underlying income …
The Foreign Account Tax Compliance Act (FATCA) is a US law enacted as a part of the Hiring Incentives to Restore Employment Act (HIRE Act) on March 18, 2010. The purpose of FATCA is to ensure that the United States …
Commonly known as FBAR, the FinCEN Form 114 came out of the Banking Secrecy Act (BSA) and requires US persons and residents to disclose overseas financial accounts. It is a requirement, of any US citizens and residents with an aggregate …
Taking effect from 06 April 2020, residential property will now be subject to a new capital gains tax and payment regime. The new rules dictate that if the disposal of a UK residential property has resulted in a gain, there …
The recent pandemic of COVID-19 has impacted everyone from individuals to small businesses to large corporations. However, the UK government, like others, has put in place measure to aid those during this pandemic.
With regards to tax measures, the government …
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