2008 Changes continued
- Article Dates:
- 2008
- All Months
Displaying Matches 1 thru 16 of 31 Found. NEXTLAST
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....
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...
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...
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....
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...
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...
If you want to know when you should and when you shouldn't invest in overseas property through an overseas company read this article. Fully updated for the changes applying after April 2008 it goes through how you can purchase overseas property and pay the minimum in capital gains tax and income tax....
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...
Offshore trusts and companies are potentially very attractive in reducing UK income tax. The downside are the anti avoidance rules that apply. If you're caught by them the UK tax benefits are in many cases eliminated. This article looks at how the anti avoidance rules apply in 2008....
The Revenue won't typically consider your domicile status unless it's relevant in determining an immediate tax liability. This article looks at one option for establishing non UK domicile after April 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....
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....
The 2008 Budget and subsequent Finance Bill announced that the £30,000 remittance tax charge is to be based on overseas unremitted income or gains. This means that anyone subject to this charge will need to nominate overseas income or gains which would be subject to the UK tax charge. This article looks at this in detail based on the current provisions in the Finance Bill....
Although the rate of CGT has now reduced to 18% on investment assets if this is still too high for you, one option is to move overseas and sell as a non UK resident. This area is a minefield and there are lots of tax issues to consider. With something as important as this it's useful to have a handy checklist to ensure you've covered all the key bases. This article highlights the main tax points for you to consider to make sure you can sell up free of UK capital gains tax....
Any non UK domiciliaries faced with the new remittance tax charge will be interested in how the £2,000 de minimis limit operates. This article reviews the provisions of the 2008 Finance Bill and explains how the de minimis limit can be used to save additional UK tax....
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....