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US State Tax Woes on Working From Home?

We first published the potential issues around working from home in July 2020. Below is an update. Imagine it is the first week of March 2020, you are sitting at a restaurant in California, sans mask of course, when you start to talk to your friends about this virus that is tearing through Italy and seems to […]

UK Budget, March 2021 Tax Highlights

The UK Chancellor unveiled today the much-awaited UK Budget for the upcoming year. When talking about the current state of the economy, Rishi Sunak emphasised continuing to protect jobs and livelihoods, but also addressed a longer-term need to rebalance the public finances. We have highlighted some of the key points from an individual perspective: There […]

2021 US Tax Deadlines – 2020 tax year

PLEASE NOTE: The April 15 deadline below was changed to May 17. We have adjusted the content accordingly. No additional changes have been announced and all remaining dates are correct as of 7 April. Below are the 2021 US tax deadlines for the 2020 tax year. January 15, 2021 Deadline for Individuals to pay Quarter […]

HMRC Scammers are at it again in 2021

HMRC scammers are preying on victims again in 2021 by calling, emailing and texting UK taxpayers. They are impersonating the HMRC offering refunds, suggesting money is owed and luring people to click a link or share personal information. This year’s latest scam is claiming you are due tax relief in the name of Covid-19. Reports show these are low amounts (around the […]

Look Before You Leap…or GIFT – US Gift Tax Exemption

While the US estate and gift tax exemption currently stands at a hefty $11.7 million (2021), it does not mean that you will benefit from it on a gift you make today. Due to President Biden’s historic win, Americans are facing down the barrel at some potentially drastic changes to the tax law. Under proposed […]

HMRC issue notices to agents with regards to taxpayer’s UK domicile status

HMRC have recently sent “useful” reminders to UK tax advisors / return preparers, to ensure their clients’ tax return is correct where they fall under the not so “new” deemed domicile rules.  Whilst we feel this letter is a couple of years late, perhaps this was the intention of the letter from HMRC in the […]

FBAR deadline extended to October 31st 2020

The Foreign Bank and Financial Accounts Reports (FinCEN Form 114 aka ‘FBAR’) are due on April 15th annually, however, there is an automatic extension to the FBAR deadline given until October 15th. On October 14th, 2020, the eve of the 2019 FBAR deadline, FinCEN posted an incorrect message on its Bank Secrecy Act (BSA) E-Filing […]

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