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Briefing quick find:

Tax and Private Client newsletter – 2015

Settlement Packages – Are they taxable? Changes to Stamp Duty Land Tax (‘SDLT’) Charitable legacies: Wills and Deeds of Variation Changes to Capital Gains Tax – Impact on Non-Residents Changes to Main Residence Relief – Residents and Non-residents New Notary Public…

Inheritance tax planning

Inheritance tax planning is no longer the exclusive domain of the very wealthy. The sustained increase in property prices has made it probable that many homeowners who may not have previously considered inheritance tax planning to be necessary, will now…

Do you know your domicile?

Why is it important to know your domicile? Domicile is a critical aspect in establishing the extent to which an individual is liable to UK taxation. Domicile, together with the concepts of residence and ordinary residence, is used to ascertain the…

Normal Expenditure out of Income Exemption

Introduction This exemption applies where the taxpayer can show that a gift (transfer of value) meets all three of the following conditions: 1) It formed part of the transferor’s normal expenditure, 2) It was made out of income, and 3) It left the transferor…

Tax planning with property

Leading tax and legal experts agree that a family home should only form part of an inheritance tax planning exercise as a last resort. Wherever possible, it is usually preferable to look towards other asset classes when considering planning of…

Changes to the Remittance Basis of taxation

Substantive changes have been proposed to the UK taxation of international individuals. This briefing note is designed to highlight the recent changes made and proposals afoot. Changes to the Remittance Basis of taxation On the 28th May 2012 HMRC issued an Information…