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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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What is overseas capital and how to remit it free of UK tax
22/10/2008
Remitting overseas capital is a common question both in our tax forum and our online Q&A service. This article looks at exactly what overseas capital is and how non UK domiciliaries can use the rules to remit overseas cash free of UK tax whether they choose the arising basis or the remittance basis after April 2008. It also looks at the rules applying to mixed funds. . . .
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What is a Remittance?
17/10/2008
There's plenty of advice to non doms who are subject to the remittance basis of tax to avoid 'remitting' income or gains but what exactly does this mean? This article looks at the general rules and impact of the court decisions that apply in this area . . .
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Tax Planning for Non Doms Working Overseas
15/10/2008
Non Doms are entitled to numerous UK tax benefits. After 6 April 2008 many of these benefits may have been reduced but they are still there! This article looks at non doms living in the UK but working overseas, and in particular how they can take advantage of their special tax status to reduce UK tax . . .
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Changes to the 2008 Finance Act for Non Doms
06/10/2008
As requested by one of our members we've looked through the latest Finance Act and compared this with the previous Finance Bill that was issued at the beginning of the year. We've focused on the changes to the remittance basis and have had to go through both versions with a fine tooth-comb to highlight the changes. . . .
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Credit Crunch Tax Planning
22/08/2008
Given the worries over the future state of the economy it's well worth considering whether there's anything you can be doing to reduce your tax liabilities. In this article we look at some ideas for reducing your UK tax charge in the current economic climate . . .
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Tax treatment of cash when you close down a company
18/08/2008
Where you have retained cash balances within a company, it's important to be able to access the cash tax efficiently. This is particularly the case if you've left the UK and want to extract the cash whilst non UK resident. This article looks at extracting cash from companies if you're UK resident or non UK resident . . .
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AIM shares and Entrepreneurs Relief
06/08/2008
Anyone holding or investing in shares listed on the Alternative Investment Market ('AIM') will be aware of the highly beneficial tax reliefs on disposal before April 2008. The changes to the CGT regime have however also brought a number of changes for AIM investors. This article looks at how AIM investors will be taxed on disposals after April 2008, and in particular how the new Entrepreneurs Relief will apply . . .
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Tax planning points for non doms coming to live in the UK
30/07/08
Any non doms coming to live in the UK should carefully consider their position in terms of both income and capital gains that could arise overseas. This article looks at some tax planning steps and opportunities that all non UK domiciliaries should be considering before coming to live in the UK . . .
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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 . . .
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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 . . .
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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. . . .
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Offshore Tax Book
Non Dom Tax Book
Tax Havens Book
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Capital Gains Tax
