Individuals who are living in the UK and hold their assets in a US revocable living trust will, in many cases, be required to register their trust with HMRC’s Trust Registration Service before 1 September 2022. New rules mean that …
UK Tax
Taxation of Gifts: UK rules vs US rules
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 …
Budget 2020: A reminder from a time before lockdown
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 …
UK Capital Gains Tax: New Rules for Residential Property
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 …
Coronavirus (COVID-19) Tax implications for the UK
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 …
Taxes Through The Ages
The process of taxation has been imposed on billions of taxpayers for many years, but for how long? Let’s take a step back in time and see how taxes have changed throughout the ages.
Taxation in Ancient Egypt?
That’s right! …
Do you have to pay taxes in the UK if you live abroad?
The amount of tax you pay in the UK depends on your residential status. You may find that if you live abroad, you may still be classed as a UK resident for tax purposes and therefore have UK tax obligations.…
How PFIC strategies are affected by currency fluctuations
The ongoing saga of Brexit is causing economic repercussions throughout the UK. From business uncertainty to concerns about trade and product availability, one of the biggest impacts so far is the sharp decline in the pound’s value.
And when it …
New Year, new Tax Regime if Labour win the election – exploring five anticipated changes
Apparently, it’s time for another general election in the UK and as a tax adviser that inevitably means the possibility of real change to the existing tax regime in the UK. Clients may want to look closely at Labour’s tax …
Filing taxes as an American in the UK – US Expat Taxes explained
As an American living in the UK, you will find yourself in the unenviable situation of needing to file both US and UK tax returns. A complex affair, we believe it’s vital for taxpayers to have an understanding of their …
