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Author Archives: Sara Shahran

About Sara Shahran

Senior Tax Manager, UK Tax Specialist, CTA and ATT qualified professional with 8 years UK private client tax experience with non dom HNW focus. Previously with and qualified at BDO LLP.

New Tax Obligations For Trusts

On 15th September 2012, Decree 2012-1050 was published that sets the deadline for filing French tax returns for trusts at 30th September 2012. Trusts, wherever they are located, must comply with the new French tax obligations, which apply from 1st January 2012.  The trustee is required to comply with certain declaration obligations when: The settlor […]

Forward planning and the reduction in top rate of UK income tax

The 2012 Budget announced that the top rate of income tax is being reduced to 45% from 50% as of 6 April 2013.  In light of this, we are advising that some clients may wish to plan to take advantage of the reduction in the tax rate by deferring an income tax charge to the […]

HMRC Tax Return Initiative

If HMRC have sent you a Self Assessment tax return or notice to complete a tax return for 2009-10 or earlier and you have not yet taken any action, HMRC are offering a quick way to bring your tax affairs up to date.  Any person who has been sent returns or a notice to file […]

Ownership of UK Property

The 2012 Budget saw the introduction of the new Stamp Duty Land Tax (SDLT) charge of 15% (effective from 21 March 2012) where a property is purchased by a ‘non-natural’ person (such as a company, collective investment scheme and partnerships with a corporate partner) and the value of the property exceeds £2 million. Further, HMRC […]

Update to UK Statutory Residence Test

[Update to the previously published entry “UK Statutory Residence Test to take effect April 2013.“ The number of days resident in the UK has changed from 10 days to 15 days.] The UK government has recently announced that it will legislate the statutory residence test (SRT) to take effect from 5 April 2013 and intends […]

UK Statutory Residence Test to take effect April 2013

[There has been an update to the information below. The number of days resident in the UK has changed from 10 days to 15 days.  Please refer to our post Update to UK Statutory Residence Test.] The UK government has recently announced that it will legislate the statutory residence test (SRT) to take effect from 5 […]

Jimmy Carr tax avoidance scheme investigated by HMRC

Newspapers have reported today of the Comedian Jimmy Carr’s involvement in a tax avoidance scheme which allows him to shelter millions each year and pay just 1% income tax.  The tax avoidance scheme known as “K2”, marketed by Peak Performance Accountants (PPA) enables income to be routed into a Jersey-based trust which lends the money […]

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