Home Tax Insights

Tax Insights

non-doms

UK Tax Changes Require Tough Life Decisions For Non-Doms

he cost of being non-domiciled individual (non-dom) and claiming the remittance basis has increased astronomically since April 2008, as is the complexity of the taxation...

Under investigation

A word with Mark Taylor Mark Taylor joined Buzzacott in early 2016 as Head of the Tax Investigations and Dispute Resolution team. Having worked for...

New Chancellor Likely to Focus on Broader Economy in Autumn Statement

Ahead of Philip Hammond's first Autumn statement, Gowling WLG private client lawyer James Brockhurst believes the new chancellor may offer clues to his fiscal direction...
Tax evasion

Latest Tax Gap Figures Usher In New Attack On Tax Evasion & Tax Crime

HMRC puts a lot of effort into calculating the UK tax gap, which is the difference between the amount of tax due (or expected)...
Trusts

Are Trusts Only For The Super Wealthy?

Certain expressions seem to excite those who believe in the conspiracy theory of taxation – that somehow everybody who is richer than they are...
High Net Worth

NAO Urges HMRC To ‘Farm’ Wealthiest People For More Taxes

High net worth individuals often have complex tax affairs. They may also have more choice over how they manage their income and assets than the average taxpayer.
Hidden Economy

Tackling The Hidden Economy – The Next Big Thing?

On 26 August 2016 HMRC published its consultation on tackling the hidden economy. HMRC is adopting a similar approach to that that taken in relation to tax avoidance by seeking to significantly increase the downside for persistent offenders.
non-doms

GFOS’ Responses To The Further Consultation Paper Of 19th August

The UK could take this Further Consultation as an opportunity to look afresh at its attitude to wealth creators and the Taxation of Non Doms in the light of what is best for Britain, post Brexit.
tax return

Trustees Warned Over Tax Return Requests

RSM has become aware of a number of incidences in which HMRC’s gateway system shows a tax return has been issued to a trust, even if no corresponding notice to complete a tax return has been issued to trustees. Trustees shouldn’t however assume that a tax return issued through the gateway is an error as failure to complete a return could incur a penalty. You have been warned!
Taxpayers

Has The Treasury Misled Taxpayers?

What shocked me then was not that the Government had closed down an inheritance tax scheme with an income tax charge, but the vindictive tone and attitude of the Government to taxpayers who used the existing law to plan to pay less Inheritance Tax.