‘Taxation’ Archives
HMRC Targeting Second Homes & Buy To Let For CGT
In the news this week is a declaration from the HMRC that they will now be chasing after Capital Gains Tax deemed not to have been paid on properties sold which used to be Buy To Let, gifted or second homes. HMRC Property Sales Campaign The new campaign called the Property [Read More]
Offshore Bank Accounts Targeted By HMRC For Tax Evasion
It was revealed last year that the HMRC launched a nationwide programme to target UK taxpayers who have European offshore bank accounts for the sole purpose of pursuing them for unpaid taxes on the interest earned on their capital. The main aim of the campaign by HMRC is to [Read More]
QNUPS Guides And Advice For Expats Cause Confusion
QNUPS guides and advice from IFA’s and specialists is causing confusion for expats using the scheme. Sudden recent changes to QROPS pension planning has made financial advisers cautious in choice of jurisdiction, and as to the benefits that QNUPS may offer. QNUPS was [Read More]
The History Of UK Tax
As there is so much about tax in the news of late, we thought we would add a short history of UK Tax. Taxes first came into being here during the Roman empire occupation. Lady Godiva At that time we were mainly Anglo Saxons. One very famous Anglo Saxon, Lady Godiva, was [Read More]
QROPS Pension Changes And Alternatives
Recent QROPS pension changes has meant that over 300 pension schemes which are based in Guernsey have been suspended by the government. This move has caused a shock wave within the offshore pension industry. QROPS pension changes in Guernsey mean that after April 6th 2012 [Read More]
How To Stop The Budget Tax Raid On Pensions
Many political pundits believe that the next budget will include a tax raid on pensions. Danny Alexander, has commented that he wants the higher-rate tax relief to be scrapped, saving the government £7billion. This means that private pension savers would get relief at the [Read More]
HMRC Business Tax Checks Pilot Extended
Recently announced is the intention to extend a pilot scheme from the HMRC for business tax record checks on missing tax from contractors who work via limited companies. The Tax man Is Coming The HMRC are seeking to plug a ‘tax gap’ of an estimated £35 [Read More]
New “Affluent Unit” Seeks Tax From Foreign Property Owners
In the global cash strapped arena, governments are seeking ways to gain tax from any means they can. The UK is no different. It was recently announced that UK citizens owning foreign property in Dubai and other countries will be the target of tax investigators. A specialist [Read More]
The Small Self Administered Scheme Tax Saving Nugget
Ever heard of a SSAS or Small Self Administered Scheme for saving tax via pensions? This is no ordinary pension plan. It can be a very efficient vehicle for pension planning and huge tax saving together with a very effective way to transfer a family company from the older [Read More]
How SIPP Pensions Work
Before investing in a SIPP for your pension it’s important to understand how they work. SIPPs , or self invested personal pensions, were introduced around 20 years ago so that investors could have a choice about where and how to invest money for their personal [Read More]
