Capital Gains Tax For non-UK Residents

Since 6 April 2015 HMRC have been charging capital gains tax on property disposals by non UK residents. This means that HMRC now need to be informed of a property sale owned by a non-resident individual, company or fund and CGT has to be paid on the disposal within 30 days of the date of sale. For properties that are owned jointly, each person must inform HMRC of the sale on separate tax re… Continue Reading

Autumn Statement 2015

We have published an overview of the Chancellor of the Exchequer’s Autumn Statement 2015. It details George Osborne’s latest announcements and measures that could affect you or your business. READ THE 2015 AUTUMN STATEMENT REPORT HERE   This report was prepared immediately following the Chancellor’s Autumn Statement based on official press releases and s… Continue Reading

Autumn Statement 2015

Contents Overview Business measures Personal measures Property measures Housing – the ‘Five Point Plan’ Tax system reform Anti-avoidance measures Devolution, infrastructure and other measures What they said…    

Overview

Chancellor pledges to ‘rebuild Britain’ as he targets £10bn budget surplus   Chancellor George Osborne pledged to move from ‘rescue’ t… Continue Reading

Tax Advice for US Citizens in the UK

If you are an American citizen living and working in the UK, you need to be aware of and compliant with both UK and US tax regulations. Common issues may arise if you are unaware of certain regulations, but with the right advice these can be avoided.

When is the US tax year?

The US tax year aligns with the calendar year, running from 1st January to 31st December, with the UK tax year running … Continue Reading

Are You Entitled to R&D Tax Credits?

As London accountants we understand that the whole area of Research & Development tax credits can be confusing because there are a range of different conditions attached to any potential entitlement. The size of the company (in terms of employees and turnover) affects any entitlement so there are different rules for SMEs and Large Companies as defined by HMRC but, just to add… Continue Reading

Buy-to-let Landlords Affected by Latest Budget Changes

In the latest Budget, tax relief available to private landlords on mortgage interest payments will be reduced from between 40% and 45% to the basic rate of tax, currently 20%, over a 4 year period from April 2017. What is the impact of this change for a landlord with one or more Buy-to-Let mortgages? Let’s consider an example of a landlord who has a rental income of £20,000 per an… Continue Reading

25% of Top Accountancy Firms Have Non-Responsive Websites

Accountancy Age recently undertook research which revealed that a significant proportion of the websites of top accountancy firms were not responsive. A responsive website is a “mobile-friendly” website i.e. one which automatically adapts to the size of the device on which it is being viewed by displaying in a different format or displaying only certain essenti… Continue Reading

Budget Highlights – The Second Budget 8 July 2015

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Business Tax and Investment Incentives – The Second Budget 8 July 2015

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Capital taxes – The Second Budget 8 July 2015

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