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2008 Tax Changes
The 2008 Budget report and the recently issued 2008 Finance bill implement a number of far-reaching tax changes, particularly to the capital gains tax regime and the treatment of Non UK Domiciliaries to apply from 6 April 2008. The articles below look at the impact of the changes.
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Can non doms raise debt over exempt assets to avoid the remittance rules?
13/06/2008
Non doms subject to the remittance basis will be looking at opportunities to benefit from overseas income or gains without triggering the remittance rules. This article looks at one specific opportunity in connection with the exempt property rules. In particular whether non doms could 'have their cake and eat it' by raising debt over exempt assets and accessing overseas income free of UK tax . . . keep reading
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Non doms and overseas property in 2008
23/05/2008
Non Doms that own overseas property will need to carefully consider the scope of UK tax on property income and gains taking into account the new rules that apply to Non Doms from April 2008. This article looks at how Non Doms will be taxed on overseas property from 2008 and some tax planning opportunities . . . keep reading
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Offshore Bonds for Non Doms
09/05/2008
For any non doms looking at ways to hold assets abroad without being liable to the £30,000 annual charge, identifying overseas investments that don't crystallise income can be crucial. This article looks at the pros and cons of offshore investment bonds for non UK domiciliaries. . . . keep reading
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Capital gains tax and the remittance basis
28/04/2008
Any non doms that may be realising capital gains offshore after April 2008 will need to understand how the new rules operate. This article looks at how overseas capital gains will be taxed for non UK domiciliaries after April 2008. It also looks at the impact of the £30,000 annual tax charge and how overseas tax can dramatically alter the UK tax planning options. . . . keep reading
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Planning for the £30,000 remittance tax charge
21/04/2008
This article looks at the current status of the provisions and exactly what you can do to minimise your tax bill. It considers how the £30,000 tax charge operates, the potential planning areas and the strategies you could put in place to avoid it. . . . keep reading
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Entrepreneurs relief for property developers?
21/04/2008
Entrepreneurs relief is effectively the successor to business asset taper relief and can provide for an effective tax rate of just 10% on certain qualifying disposals. Given this highly attractive rate of tax many non UK domiciliaries will be wondering whether they could qualify for it. This article explains when property developers could qualify. . . . keep reading
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Using offshore trusts and companies after April 2008
10/04/2008
There have been a number of tax changes - particularly to non UK domiciliaries that apply from April 2008. As such this article in intended as a summary of how UK residents will be taxed in relation to any offshore trusts or companies that they set up or are beneficiaries/shareholders of. . . . keep reading
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Using the exemptions to avoid remitting income after April 2008
08/04/2008
As is well known Non UK domiciliaries who are taxed on the remittance basis are only taxed to the extent that income or gains are remitted to the UK. Therefore any cases where income or proceeds can be brought into the UK without being classed as a 'remittance' will clearly be advantageous. This article looks at some of these exemptions provided in the 2008 finance bill. . . . keep reading
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Changes in the 2008 Finance Bill for Non Doms
31/03/2008
The 2008 Finance Bill was published on 27 March 2008. It's a huge document and over the course of the next few weeks we'll be looking at some of the key provisions in detail. It has fleshed out the earlier guidance from the Revenue and allows detailed analysis of the tax planning opportunities. In this article we provide a summary update of some of the key provisions and changes to the original proposals. . . . keep reading
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Offshore Tax Book
Non Dom Tax Book
Tax Havens Book
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Property Investment
