Category Archives: Personal Tax

A Picture of Aidan Roberson - Tax Manager

New trusts will need to be registered within 30 days of being settled, and changes to trusts must also be updated on the TRS within 30 days.

HMRC’s Trust Registration Service and the 5th Anti-Money Laundering Directive (5AMLD)

Aidan Roberson - Tax Manager - aroberson@goodmanjones.com

Posted on 25th February 2020

Categories:

What happens if you withdraw valuable euros now? Back on 5 April 2012 the law said that you had to pay capital gains tax on the foreign exchange gains in bank accounts. Thankfully, the following day new rules came in which exempted gains (and losses) on bank accounts holding foreign currency.

Capital gains tax on foreign exchange gains and losses for individuals

Aidan Roberson - Tax Manager - aroberson@goodmanjones.com

Posted on 5th December 2019

Categories:

A Picture of Richard Verge - Tax Director

It’s important to understand the new rules, and their implications for your portfolio strategies. And it’s vital that your ownership structures take account of the risks, while being as tax efficient as possible.

Foreign ownership of UK property: What do the new rules mean for your investment structures?

Richard Verge - Tax Director - rverge@goodmanjones.com

Posted on 24th September 2019

Categories:

A Picture of Hazel Johnson - Tax Director

There is likely to be some pressure on IHT reliefs in the future, perhaps seeing some restrictions being brought in

What is the Report into simplifying Inheritance Tax (IHT) from the Office of Tax Simplification (OTS) and what should you do?

Hazel Johnson - Tax Director - hjohnson@goodmanjones.com

Posted on 26th July 2019

Categories:

Previously only residential property had been within the charge to NRCGT, but from 6 April 2019 onwards the sale of any UK land and property by a non-resident will be subject to capital gains tax.

UK Commercial Property owned by non-residents

Richard Verge - Tax Director - rverge@goodmanjones.com

Posted on 25th June 2019

Categories:

Philip Hammond was only prepared to make a modest number of spending commitments in his Spring Statement

The 2019 Spring Statement – Summary

Richard Verge - Tax Director - rverge@goodmanjones.com

Posted on 14th March 2019

Categories:

HMRC have the power to enquire into such Returns and accordingly an apparently successful claim may be challenged and fail once it has come under proper scrutiny. This might be an issue if you have already paid out on no win fee basis.

Stamp Duty Land Tax & Multiple Dwellings Relief Claims

Richard Verge - Tax Director - rverge@goodmanjones.com

Posted on 5th March 2019

Categories:

You should still review your position as shareholder and your company Articles to see if they satisfy this new test, but this is a welcome relaxation of the original proposals.

Entrepreneurs’ Relief Revisions now finalised

Graeme Blair - Partner - gblair@goodmanjones.com

Posted on 19th February 2019

Categories:

Many of the announcements were minor changes to existing legislation or confirmation of matters which have already been subject to public consultations.

UK Budget Summary 2018

Richard Verge - Tax Director - rverge@goodmanjones.com

Posted on 30th October 2018

Categories:

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Category Archives: Personal Tax

New trusts will need to be registered within 30 days of being settled, and changes to trusts must also be updated on the TRS within 30 days.

HMRC’s Trust Registration Service and the 5th Anti-Money Laundering Directive (5AMLD)

What happens if you withdraw valuable euros now? Back on 5 April 2012 the law said that you had to pay capital gains tax on the foreign exchange gains in bank accounts. Thankfully, the following day new rules came in which exempted gains (and losses) on bank accounts holding foreign currency.

Capital gains tax on foreign exchange gains and losses for individuals

It’s important to understand the new rules, and their implications for your portfolio strategies. And it’s vital that your ownership structures take account of the risks, while being as tax efficient as possible.

Foreign ownership of UK property: What do the new rules mean for your investment structures?

There is likely to be some pressure on IHT reliefs in the future, perhaps seeing some restrictions being brought in

What is the Report into simplifying Inheritance Tax (IHT) from the Office of Tax Simplification (OTS) and what should you do?

Previously only residential property had been within the charge to NRCGT, but from 6 April 2019 onwards the sale of any UK land and property by a non-resident will be subject to capital gains tax.

UK Commercial Property owned by non-residents

Philip Hammond was only prepared to make a modest number of spending commitments in his Spring Statement

The 2019 Spring Statement – Summary

HMRC have the power to enquire into such Returns and accordingly an apparently successful claim may be challenged and fail once it has come under proper scrutiny. This might be an issue if you have already paid out on no win fee basis.

Stamp Duty Land Tax & Multiple Dwellings Relief Claims

You should still review your position as shareholder and your company Articles to see if they satisfy this new test, but this is a welcome relaxation of the original proposals.

Entrepreneurs’ Relief Revisions now finalised

Many of the announcements were minor changes to existing legislation or confirmation of matters which have already been subject to public consultations.

UK Budget Summary 2018

New trusts will need to be registered within 30 days of being settled, and changes to trusts must also be updated on the TRS within 30 days.

What happens if you withdraw valuable euros now? Back on 5 April 2012 the law said that you had to pay capital gains tax on the foreign exchange gains in bank accounts. Thankfully, the following day new rules came in which exempted gains (and losses) on bank accounts holding foreign currency.

It’s important to understand the new rules, and their implications for your portfolio strategies. And it’s vital that your ownership structures take account of the risks, while being as tax efficient as possible.

There is likely to be some pressure on IHT reliefs in the future, perhaps seeing some restrictions being brought in

SITR means that individuals can claim 30% of the cost of investing in a qualifying social enterprise

Previously only residential property had been within the charge to NRCGT, but from 6 April 2019 onwards the sale of any UK land and property by a non-resident will be subject to capital gains tax.

Philip Hammond was only prepared to make a modest number of spending commitments in his Spring Statement

HMRC have the power to enquire into such Returns and accordingly an apparently successful claim may be challenged and fail once it has come under proper scrutiny. This might be an issue if you have already paid out on no win fee basis.

You should still review your position as shareholder and your company Articles to see if they satisfy this new test, but this is a welcome relaxation of the original proposals.

Many of the announcements were minor changes to existing legislation or confirmation of matters which have already been subject to public consultations.