Proskauer Rose LLP
On 7 February 2020, HMRC confirmed that the new private sector IR35 rules will only apply to payments made for services provided on or after 6 April 2020.
Reporting and Non-Reporting Funds are taxed differently in the UK so it is important for investors to understand the distinctions and the potential impact on UK tax liabilities.
From 6 April 2020, a new 30-day deadline for reporting and paying any capital gains tax (CGT) was introduced for UK residents on the disposal of UK residential property.
One of the many unprecedented ways in which Covid-19 has impacted on every aspect of public life includes the closure of museums, art galleries, cultural institutions and heritage properties
In its Spring 2020 Budget, the government stated that it will ‘undertake a review of the UK's funds regime during 2020.
Individuals may consider giving away valuable assets to family members for various personal reasons, but one of the most logical reasons (at least, for UK domiciled and deemed domiciled individuals)
One of the many unprecedented ways in which Covid-19 has impacted on every aspect of public life includes the closure of museums, art galleries, cultural institutions and heritage properties.
For most clients, real property (whether the family home or a holiday villa) is one of their main assets.
Looking to reduce the inheritance tax (‘IHT') that will be payable on your death is a sensible part of your overall estate planning, and giving away your property during your...
As previously announced, the threshold at which National Insurance contributions will start to be paid will rise to £9,500.
Here is a brief summary of the measures in the March 2020 Budget which are relevant to the Real Estate sector.
Edwin Coe LLP
Whilst there were very few surprises in relation to tax, the requirement for a response to Covid-19 could not have been anticipated, as it was not something any of us could have predicted a ...
The Chancellor today delivered his (and indeed this Government's) first Budget and it is fair to say that it was a very different one to that would have been envisaged...
With the Budget coming up and with a new Chancellor at the helm, we have received plenty of queries about potential changes which this announcement could bring about.
Shepherd and Wedderburn LLP
While the relief is claimed by relatively few individuals each year, for those who qualify it results in very large tax savings.
The 2020 Budget was presented by Minister Tito Mboweni before parliament on 26 February 2020. The tax proposals for the 2020 Budget aim to support a recovery in economic growth, with some relief at the level of personal income tax. The key changes announced are:
I own a holiday home which I let out for part of the year. I want to sell it and buy a larger holiday property which I will also rent out.
Here we consider what tax policy announcements we might expect in Sajid Javid's first budget on 11 March 2020.
Currently, capital gains arising on the sale of residential property in the UK must be reported
on your annual tax return and submitted in the following tax year, either by 31 October...
Womble Bond Dickinson
The popularity of lifetime trust giving in the UK has been on a downward trend since April 2006 when the Labour government introduced reforms specifically aimed at stopping trusts "being used...