01/08/2021
The OTS’s report has flagged that the effective rate for very large estates (i.e. estates over £7m) is, in fact, in the region of 10% once all relevant reliefs and exemptions are properly applied.
01/08/2021
As for the connecting factors based on where to charge IHT, most European countries use either the situs of the assets or the residence of the donor (and more rarely the residence of the donee) as the connecting factor to charge succession or donation tax
01/08/2021
At the end of the Brexit transition period many EU directives and other regulations ceased to apply to the UK.
01/07/2021
The change will apply to Brooks Macdonald's custody MPS and those held on third party platforms (platform MPS).
01/06/2021
HMRC state that it is the intention of the UK Government to implement the OECD model Mandatory Disclosure Rules (MDR) into UK domestic law as soon as practicable.
01/06/2021
With the prospect that the Chancellor of the Exchequer would raise taxes in his 3 March 2021
01/06/2021
If the rates were brought up to even close to income tax rates this would mean an effective doubling of the CGT rate for higher rate taxpayers.
01/06/2021
It has been a pleasure working with like-minded individuals who are dedicated to serving clients at the highest level.
12/29/2020
The Commission cited a survey conducted in May this year indicating that 63% of respondents supported a one-off wealth tax on households with assets over 2 million pounds ($2.7 million), excluding homes and pensions.
12/28/2020
It added that Russia and Malta signed the protocol on amending the Double Tax Agreement in October 2020.
12/23/2020
This update is a FAQ regarding persons involved in AML / CFT for RAIFs.
12/23/2020
"A gift into trust is often undertaken when someone wants to make a gift for the benefit of family members whilst retaining control of the assets gifted during their lifetime."
12/22/2020
On 21 December 2020, the Luxembourg Finance Minister announced an extension to the filing deadlines for 2019 and 2020 Luxembourg tax returns.
12/21/2020
Critics question HMRC’s strategy considering the billions lost to fraud each year
12/17/2020
Chairman says investment in staff created resilience to Covid-19 disruption
12/17/2020
Proposals for a UK wealth tax
The report suggests that a one-off wealth tax should include all assets worth more than £3,000, valued at their open market value.
12/16/2020
Amongst the many other repercussions of the pandemic, personal tax return preparation may not be as straightforward as in previous years.
12/15/2020
The question of whether VAT should be levied on MPS services surfaced earlier this year when the taxman ruled Tatton’s MPS was exempt from the tax.
12/15/2020
The French Supreme Tax Court (Conseil d’État) ruled that the French withholding tax on the capital gain derived from the disposal of a substantial shareholding in a French company by a non-resident company is not compliant with EU law.
12/13/2020
A ‘wealth tax’ is broadly a charge on a person’s assets, in contrast to the majority of taxes that are charged when cash or assets move between parties.