News and insight

The OTS has suggested significant inheritance tax reforms, focusing on interactions of IHT with CGT, Agricultural Property Relief and Business Property Relief, and Lifetime gifts

Doing business in the UK for the first time can be exciting but complex. In this inward investment guide, we identify ten key points to help you plan ahead for success

Tax is a key consideration when establishing a business in the UK. Below is a brief introduction to some of the UK business tax rules

HMRC have put forward a draft legislation in the Finance Bill to codify the position on voluntary tax returns. 

Combining the mixed fund rules and the cleansing rules presents opportunities, but non-doms must act now as the chance to 'cleanse' mixed funds is only available until 5 April 2019.

The First-tier tribunal decides on an appeal dealing with inter-company loans and the loan relationship provisions in Part 5 of the Corporation Tax Act 2009 (CTA 2009).

If your affairs involve income or assets outside the UK and your UK tax filings up to 5 April 2017 for these offshore matters are not perfect, from 30 September 2018 you face stringent new penalties.

HMRC is writing to UK residents who have accounts in the US. If you have received income or gains on a US account you should, in most cases, have declared these on your UK tax returns.

The Finance Bill 2018-19 increases tax assessment time limits for non-deliberate offshore non-compliance, allowing HMRC to open assessments up to 12 years after the relevant tax year.

The First-tier tribunal considered whether four investment properties met the conditions to benefit from transfer of a going concern treatment in Clark Hill Limited v HMRC.

The First-tier tribunal decides whether a payment to a non-salaried judge in respect of historic underpayments of his fees was compensation or taxable as employment income in Pettigrew v HMRC.

Tribunal makes decision on taxable profits in Maersk Oil North Sea UK Ltd and Maersk Oil UK Ltd v HMRC.