Tax Planning

PensionsTax Planning
Clock Ticking On Pension Tax Breaks For High Earners

  High earners do not have much time left to make the most of their pensions. The government is introducing two changes I April 2016 that will slash the size of pension funds and the amount of money the wealthy can contribute to a pension. The lifetime allowance has already dropped from £1.8 million in…

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Tax Planning
How Mortgages Can Trigger Surprise Expat Tax Bills

British expats moving overseas and paying off a mortgage on their UK home could face unexpected tax bills, warn financial advisers. Although foreign currency gains or losses on residential property mortgages are not taxed in the UK, the same rule does not apply in many other countries. One of the exceptions is Australia, which is…

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Tax Planning
Oil And Gas Workers Face Massive Tax Demands

Thousands of oil and gas contractors accused of involvement in a tax avoidance scheme have received demands for cash from HM Revenue & Customs (HMRC). More than 22,000 contractors who sheltered their earnings offshore in now outlawed employment benefit trusts more than seven years ago are now paying the price for breaking tax rules. Accountants…

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Tax Planning
CGT Cases Muddy Rules For Expats Selling UK Homes

Qualifying for capital gains tax breaks as an expat is even more complicated following the latest legal rulings in the UK. Capital gains for expats became an issue from April 2015 when Chancellor George Osborne reversed the law allowing non-residents to sell assets in the UK without paying CGT. Since then, non-residents selling residential property…

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Tax Planning
Is Your Lifetime Allowance Protected?

The lifetime allowance is the maximum size the government allows a pension fund to reach without penalising retirement savers with tax charges. The lifetime allowance is often referred to as the ‘LTA’ and is set by the Chancellor in the annual Budget. The figure can vary from year to year, and is currently on a…

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Tax Planning
Tax Planning for returning Brits

For UK expatriates returning to Britain for good, there are tax issues that cannot be avoided. The taxman takes great interest in returning expatriates, and the rules are extensive and complicated. Before beginning the process of re-introducing yourself to the United Kingdom, you must first fully understand your UK tax position. A vital aspect of…

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