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Archives for Tax

September 2018 Tax News

HMRC warning: time to declare offshore assets HMRC is warning that taxpayers could face penalties if they fail to declare their income on foreign assets before new ‘Requirement to Correct’ legislation comes into force. Click here for the full story…

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Spring Statement Summary 2018

The Chancellor Philip Hammond presented his first Spring Statement on Tuesday 13 March 2018. In his speech he provided an update on the economy and responded to the Office for Budget Responsibility forecasts. In addition he launched consultations on various…

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Wilton Budget Summary Autumn 2017

The Chancellor of the Exchequer, Philip Hammond, made his first Budget of the new parliament to the House of Commons on Wednesday 22 November. Alongside announcements on the NHS, housing and Brexit we will see changes to EIS investments, a…

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The Finance Bill 2017

The Finance Bill 2017 was severely curtailed due to the general election and many of the provisions were subsequently included in another Finance Bill which is to have effect retrospectively from 6 April 2017. However, some provisions were not included,…

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VAT To Be Implemented In The UAE

The Director-general of the Federal Tax Authority announces that Saudi Arabia AND the UAE will introduce VAT in January, with the other GCC countries following in due course afterwards. However, Companies in the United Arab Emirates (UAE) will be able…

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Beneficial Ownership Register for Trusts

On 26 June 2017, the UK Government introduced a beneficial ownership register for trusts for the first time, in response to its need to comply with the EU’s 4th Anti-Money Laundering Directive. Which trusts will be affected and what will…

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Google French Tax Court’s Decision

Why did Paris tax judge cancel Google’s 1.2 Billion Euro tax and penalties? Paris Court Decision of July 12, 2017 On July 12, 2017 Paris Administrative Court (“the Court”) ruled in five decisions of the same day, that Google Ireland…

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Property News Update

Recent research into the London property market has suggested that almost 20,000 homes in the capital lay unoccupied for more than 6 months during 2016. Somewhat surprisingly, the borough containing the most unoccupied houses was the affluent borough of Kensington…

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Finance Bill changes: Impact on Non-Doms

Following the announcement of a snap election on 8 May, the Government yesterday decided to drop much of the Finance Bill in order that it can be passed in the short time before Parliament is dissolved. Among the provisions that…

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