Thoughts and analysis covering both UK and offshore tax.
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…