An Englishman’s Home is his Castle?
Or is HMRC undermining it? “Everyone” knows a capital gain on your own residence is “tax exempt”. “Everyone” knows offshore gains are “tax exempt”. Isn’t this in the Press on a regular basis? …
Requirement to Correct – 30 September Deadline Looms
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Disclosure HMRC Double Taxation Residence Capital Gains Tax Income tax Contractual Disclosure FacilityThe Weather Today – Scorchio! BUT 30 SEPTEMBER DEADLINE LOOMS WINTER IS COMING! Requirement to Correct Many people over the years of the world becoming smaller and more accessible may have acquired assets abroad. For …
Making Tax Dysfunctional
Those Impossible Situations – A Fair Tax System? HMRC have over recent years spent a fortune on “Management Consultants”. Consultants preaching efficiency often talk about an 80:20 rule, pointing out that the majority of “profits” …
Offshore Update – HMRC Clamp Down and Starbucks EU Tax Case
HMRC have recently purchased advertising pointing out that offshore income and gains may be taxable in the UK. This is true. In general, for UK domiciled residents, all worldwide income and gains are taxable (even …
Fishing for A Commercial Rationale – Avoidance Motive in A Fisher, S Fisher, P Fisher v HMRC
A recent case was heard at the First-Tier Tribunal regarding the conflict between commercial decisions and tax avoidance motives (A Fisher, S Fisher, P Fisher v HMRC). It can clearly be seen that legally reducing …