In his 2015 budget, the then Chancellor of the Exchequer George Osborne announced the death of the tax return. Ultimately, this means that individuals should be able to update an online ‘digital account’ with information about their income and expenditure. The long term idea is that many items of income will be included on an […]
Finance Bill 2017 the non-dom reforms Disclaimer The information provided by Charter Tax Consulting Limited is general in nature and does not constitute specific tax advice. Professional advice should be sought before deciding on a course of action, or refraining from a certain action, arising from the above information. Tax legislation changes regularly and information […]
Frequently Asked Questions I will become deemed domiciled for all tax purposes from 6 April 2017, and I set up an offshore trust when I was not UK domiciled. How will the new income tax rules affect me? Long term residents in the UK will have to pay tax on their worldwide income from […]
Frequently Asked Questions I own UK residential property through an offshore company. What are the changes that I need to be aware of? It is likely that individuals owning property in an offshore company are not domiciled in the UK (and possibly not resident in the UK). If this is the case, you would not […]
Aspects of your financial position you could consider reviewing before 6 April 2017 Review your capital gains and losses Each year most taxpayers paying tax on the ‘arising’ basis will have a tax free Annual Exemption for capital gains tax purposes (£11,100 for 2016/17). If the exemption is not used it is lost – it […]
Link to Tax Journal January 2017 Disclaimer The information provided by Charter Tax Consulting Limited is general in nature and does not constitute specific tax advice. Professional advice should be sought before deciding on a course of action, or refraining from a certain action, arising from the above information. Tax legislation changes regularly and information […]
Worldwide Disclosure Facility and the Requirement to Correct On 5 September 2016, HMRC released details for the long awaited disclosure facility, called the Worldwide Disclosure Facility (WDF). This is mooted to be the last of the last chances offered by HMRC for individuals to become compliant by reporting previously unreported income and gains. The ‘facility’ […]