capital gains tax

The benefits of an Independent Review by HMRC

The Taxes Acts allow taxpayers to ask for an independent review of an appealable decision by HMRC. The review is carried out by an independent officer within HMRC’s Appeals and Reviews teams. However, recent evidence suggests that many taxpayers remain...

UK Government does the dance of transparency!

In a backbench revolt on 1 May 2018 the UK Government was forced to back new legislation which will introduce public ownership registers in Britain’s 14 overseas territories.  The concept of public ownership registers was originally proposed by David Cameron...

Yet another nail in the coffin for offshore arrangements?

The UK Government has introduced a raft of legislation to address tax evasion and latterly tax avoidance. This has included; The Requirement to Correct legislation which has introduced punitive offshore penalties and extended assessing time limits for Income Tax, Inheritance...

Government ups the ante on anti-avoidance

The Government has used the Autumn Budget to again send a clear message of its commitment to tackling tax avoidance and tax evasion especially in relation to offshore structures. The Government will soon be publishing the responses to a consultation document...

Trouble aboard the good ship HMRC?

It is said that the real sign that a ship is in trouble is not when the rats jump overboard but when the officers abandon it mid-voyage. If that’s the case, HMRC appears to be sinking because a number of...

CGT and Non-Residents Update

Background In March 2014, HMRC issued a consultation document about implementing a capital gains tax charge on non-residents.  Historically, non-residents, whether they be individuals, companies or trusts, have not been liable to CGT on gains on residential properties.  However, in...