Author Archives: Sara Shahran
UK Budget 2013 Details: Resident or not?
Further to our highlights on the Chancellor’s Budget for 2013, although we did not expect to see any dramatic changes in respect of tax rates there were significant announcements to assist homebuyers get onto the property ladder and businesses will welcome the further reliefs in connection with employment taxes. Below we have summarised the key […]
Budget 2013 Highlights
The Chancellor has delivered his message with clear support for entrepreneurs in Britain following recent announcements in the 2013 Budget. We have highlighted the key features as follows: The main rate of corporation tax will be reduced to 21% from April 2014 with an additional reduction in April 2015 to 20%. The Chancellor has also […]
Isle of Man Disclosure Facility
Further to our blog post at the end of last year, the information exchange agreement between the UK government and the government of the Isle of Man is expected to take effect beginning in January 2014. In line with the exchange of information agreement, a special disclosure opportunity for UK taxpayers will also be available […]
High Income Child Benefit Charge
With effect from 7 January 2013, HMRC introduced the “child benefit charge” for taxpayers with income over £50,000. Many recipients of the child benefit would have received letters around November 2012 informing them of the new charge. HMRC have advised that those affected will need to either: a) Elect to stop receiving child benefit from […]
Taxation of High Value Residential Property
The Finance Bill 2013 was published just before Christmas containing legislation to give effect to the new tax charge for high value UK residential properties owned by Non Natural Persons (NNP’s). We summarised in our previous blog the key changes in respect of the Annual Property Charge (ARPT), Stamp Duty Land Tax (SDLT) and the […]
Taxation of High Value Residential Property
The UK Finance Bill 2013 was published just before Christmas containing legislation to give effect to the new tax charge for high value UK residential properties owned by Non Natural Persons (NNP’s). We summarised in our previous blog the key changes in respect of the Annual Property Charge (ARPT), Stamp Duty Land Tax (SDLT) and […]
Is your Swiss bank account UK tax compliant?
Following the signing of the UK-Swiss tax agreement in October this year, Swiss banks are currently writing letters to all account holders who have a connection with the UK. Letters are also being sent to those considered to be “relevant persons” in respect of trusts and foundations that hold Swiss accounts (settlors and beneficiaries would […]