Given the surge in property values over the last ten years or so, there are lots of people holding properties with substantial gains. I've also noticed more and more people looking to cash in on this even more by buying properties to let or selling…
There were no changes to the tax benefits available to non UK domiciliaries in the recent budget. This is not surprising and if there was a change expected this is the kind of issue that is likely to be subject to a lengthly consultation period…
I've seen quite a lot of websites that are in one of these two camps: - Either they're dead against the use or even the existance of tax havens in principle, or - They're all for them and advocate that everyone can use them to reduce their taxes. In…
Many people look to purchase overseas property for holiday use and the moment in can seem like there is a mad rush to buy an overseas holiday home. Sometimes you need to slow down and examine the facts and figures in detail. In Spain for instance…
I was contacted by a friend of a friend last week. I was pretty surprised when they told me that they originally purchased their house via their UK Ltd company. Apparently they originally purchased it with the intention of letting it but changed…
The recent tax changes in Spain have been widely reported. There was a massive drop in the CGT rate for non Spanish residents which came about due to the EU getting involved and not liking the fact that Spain taxed residents at 18% but non residents…
I've had a few people asking whether the income and corporation tax changes in the budget make using a company more or less attractive. If you're not aware of these yet basically these increase the rate of corporation tax for a small company to 22%…
In the budget a couple of days ago, the Chancellor announced that the ISA limits are to be increased from 2008. They're also doing away with the distinction between a maxi and mini ISA. Under the new rules you'll be able to invest up to £3,600 in a…
It's something that I'm asked pretty frequently - can CGT be avoided by keeping proceeds in an offshore account? In the past it was fairly common and people even sold UK assets and kept the cash offshore. Unfortunately this is tax evasion - which is…
Well, after years of researching and writing on overseas and offshore tax issues I've finally decided to take my own advice and emigrate. Like most emigrants tax is only a part of my reason to leave the UK. Sure I don't like the UK's personal tax…
A useful change in the budget is the removal of the connected persons test where properties are swapped. This was always a pretty crazy rule but essentially it said that if: A owned B worth £230K, and C who was A's brother owned D worth 100K and they…
For many people it's tempting to defer to the Revenue's view. In some cases I'd agree particularly where the costs of any challenge would outweigh tax tax at stake. However just because it's the view of an individual Inspector doesn't make it correct…
There have been quite few changes over the past 6 months or on the CGT position in Spain. For most the key implication of this will be non Spanish residents that are selling Spanish property. Under the 'old' regime they'd have been taxed at a a…
Well, it was the 2007 budget today. There were lots of changes as you'd expect from Gordon's last budget although I don't think there were many with any real substance. The domicile changes never occured - although no surprise there, and the main…