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Entrepreneurs' relief from UK capital gains tax on share sales will be available if individuals are entitled to at least 5% of the sale proceeds of the company, if recent amendments to the Finance Bill proposed by the government become law. 08 Jan 2019
Gains made by individuals on bitcoins or other cryptoassets will usually be potentially liable to capital gains tax, rather than income tax, according to guidance issued by the UK's HM Revenue & Customs (HMRC). 21 Dec 2018
A family investment company (FIC) can be an attractive alternative to a trust as a vehicle to preserve family wealth and mitigate taxes. A FIC typically has lower running costs than a trust and enables those who establish it to retain a degree of control....
UK taxpayers who have underpaid income tax, capital gains tax or inheritance tax involving offshore matters must correct past non-compliance before 30 September 2018 or face penalties which could be as much as two or three times the unpaid tax. There is also...
A person or company can penalised if they 'enable' offshore UK tax evasion or non-compliance by others. Policies and procedures designed to prevent companies from committing the corporate criminal offences of failing to prevent the facilitation of tax evasion...
This guide was updated in December2017
The Common Reporting Standard (CRS) is a way for countries to automatically exchange information about non-residents holding bank accounts and other financial accounts offshore. By September 2018 over 100 jurisdictions should be making annual exchanges...
The Contractual Disclosure Facility (CDF) is part of a drive in recent years by HM Revenue & Customs (HMRC) to 'crack down' on tax evaders and "close the tax gap". The CDF is the newest incarnation of Code of Practice 9 - a process which is used...
UK taxpayers and third parties have no right to attend a tax tribunal hearing to consider the issue of notices by HM Revenue & Customs (HMRC) requiring the provision of information relevant to tax enquiries, the first-tier tax tribunal has decided. 12 Dec 2018
Greater powers granted to HM Revenue and Customs (HMRC) to tackle tax evasion and avoidance mean that the balance has "tipped too far in favour of" the tax authority, a House of Lords committee has warned. 05 Dec 2018
In an ever changing world having the right adviser is crucial to meet your tax obligations and where possible mitigate your tax exposure.
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