The tax rules have changed recently and you will need to take care if you are hoping to leave the UK and relinquish UK residence for tax purposes. You should also be aware that the approach taken by Revenue & Customs to taxpayers leaving the UK for tax purposes has hardened considerably recently, so you will need to consider your medium term plans very carefully if you wish to establish non residence. (more…)
Posts Tagged ‘tax relief’
Going to live abroad
Thursday, February 4th, 2010Tags: higher tax rate, Offshore, Personal tax returns, tax relief
Posted in Australia, Canada, France, New Zealand, UK accounting, USA | Comments Off
Capital gains tax
Thursday, February 4th, 2010As with income tax, each person has an annual exempt amount, which is wasted if not used. For married couples and civil partners this can be effectively managed by ensuring that assets that are sold at a gain are either jointly owned or that each partner sells some assets to cover their annual exempt amount. (more…)
Tags: Capital gains tax (CGT), Personal tax returns, tax planning, tax relief
Posted in UK accounting | Comments Off
New tax rates
Monday, January 11th, 2010The Finance Act 2009 introduced the necessary legislation to enable the top rate of tax to be increased to 50% on taxable income in excess of £150,000 in any tax year. (more…)
Tags: HMRC, Income tax allowances, Personal tax return, tax relief, UK Corporation Tax
Posted in UK accounting | Comments Off
New Tax penalties for 2010
Saturday, January 9th, 2010There are a number of new penalty regimes coming into force, and for business owners and private taxpayers alike the new message from the tax authority is, ‘Take care to avoid a penalty.’ While penalties for inaccurate returns started in 2009, the regime is extended in 2010 to all taxes and duties, and some other tax obligations such as registration for VAT. (more…)
Tags: HMRC, tax relief, UK Corporation Tax, UK VAT
Posted in UK accounting | Comments Off