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Non-domicile or non-sense

Barry Jefferd Accounting, Barry Jefferd, Economic / Business News, George Hay, In the News, Legislation, Personal Taxation, Tax, Tax legislation, Team Member April 11, 2022November 16, 2023British economy, Chancellor, deemed domicile, Income tax, investment, non-domicile, remittance basis, tax legislation, tax planning, UK residency, UK tax, worldwide income 0 Comment

Non-domicile or non-sense

Once again, tax has been making the news with the Chancellor’s wife, Akshata Murty, dominating headlines as a result of her non-domicile status. The quality of the reporting I have come across on this topic, so far, has been poor

Beware undisclosed property income!

Carol George Accounting, Business, Business Advisory, Business Support, Carol George, Deadlines, Economic / Business News, George Hay, HMRC, Industry Sectors, Legislation, Property, Property Taxation, Tax, Team Member October 13, 2020November 17, 2023airbnb, annual trading allowance, CGT, coronavirus, furnished holiday let, HMRC, income, investment, let property, rent-a-room relief, residential, self-assessment, Tax, tax return 0 Comment

Beware undisclosed property income!

Undisclosed property income has long been on HMRC’s radar and its data sharing system has made it easier to pursue those taxpayers at fault. Last month, Reuters reported on an investigation into the UK arm of Airbnb, conducted by HMRC,

Stamp duty surcharge on non-resident property transactions

Richard Dilley Business, Business Support, Cash flow, Economic / Business News, Industry Sectors, Property, Property Taxation, Richard Dilley, Tax, Team Member September 29, 2020November 17, 2023investment, non-resident, property tax, residential, SDLT, stamp duty land tax, stamp duty surcharge, tax planning 0 Comment

Stamp duty surcharge on non-resident property transactions

The government has issued draft legislation outlining how the two per cent Stamp Duty Land Tax (SDLT) surcharge will apply to non-resident property transactions. ‘Relevant period’ for stamp duty residence test From 1 April 2021, the number of days a

Will I pay Capital Gains Tax on a classic car?

Barry Jefferd Barry Jefferd, HMRC, Personal Taxation, Tax, Team Member September 20, 2019November 16, 2023business, Capital Gains Tax, capital losses, cars, CGT, investment, profit, tax allowances 0 Comment

Will I pay Capital Gains Tax on a classic car?

By definition, Capital Gains Tax (CGT) is a tax on the profit that you make when you sell, or dispose of, an asset that has increased in value. Having invested in a classic or vintage car, you may find that

Inheritance Tax and Estate planning: Why is it so important?

Barry Jefferd Accounting, Barry Jefferd, HMRC, Inheritance Tax, Legislation, Personal Taxation, Property Taxation, Tax, Team Member June 14, 2019November 16, 2023estate, IHT, inheritance tax, investment, nil-rate band, tax planning, trusts 0 Comment

Inheritance Tax and Estate planning: Why is it so important?

UK Inheritance Tax (IHT) receipts are currently at an all time high, hitting a record £5.4bn in 2018/19, and only look set to grow again in the coming year. The nil-rate band (NRB), now in its tenth year of being

7 things we think you should know as the ISA turns 20…

Barry Jefferd Accounting, Barry Jefferd, Business, Business Support, Economic / Business News, Personal Taxation, Tax, Team Member January 21, 2019November 15, 2023allowance, Brexit, income, interest rates, investment, ISA, savings, Tax, taxpayer 0 Comment

7 things we think you should know as the ISA turns 20…

The Individual Savings Account (ISA) was first introduced back in April 1999, meaning that this year marks its 20th anniversary. Online investment broker, Hargreaves Lansdown, estimates that approximately £8.7trn has been invested in the tax-free accounts during that time. ISA’s

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