The Knowledge Centre

The Capital Gains Tax Consequences of Divorce Divorce and Tax: An Often Overlooked Consequence Divorce is never easy. It’s stressful, emotional, and often exhausting. And while there are plenty of things to worry about, one that often surprises people is the tax implications, including Capital Gains Tax (CGT) on asset transfers. The good news is […]

The UK tax landscape is always transforming! It’s important to keep up to date on the changes which will affect you. If you are self employed and operate as a sole trader or in partnership, be aware of the new basis period rules. These rules apply from 6 April 2023 and will ultimately shift the […]

Overseas Workday Relief If you are a remittance basis user and split your workdays between the UK and elsewhere, you may be entitled to claim overseas workday relief (OWR).  OWR allows individuals to exclude part of their employment income from the scope of UK tax based on the split of their UK and overseas workdays.  […]

Introduction Tax equalisation is an arrangement between employees and employers whereby the employee works in another location to their home country and should be neither better nor worse off from a tax perspective than if they stayed at home.  It is quite a common arrangement between employees and employers where individuals are sent on secondments […]

Under neon loneliness – Self Assessment deadline looming It’s that time of the year again when the annual tax return deadline becomes the main focus for us advisers (and many) of taxpayers or ‘customers’ as HMRC labels them. For the large majority of taxpayers, their annual tax compliance, although sometimes daunting to the untrained or […]

So you are happy that you are non-UK domiciled. What is the tax position? For inheritance tax (“IHT”) purposes, the basic position is that non-doms are only liable to IHT on UK assets. However, this beneficial position is changed when they have been residents in the UK for 15 out of 20 of the previous tax years. Once […]

Domicile? The press might want us to think it was another one of those loopholes. However, the L-word doesn’t come in to it where domicile, and the tax consequences flowing from a non-domicile status comes in to it. What is domicile? Domicile is a concept of general international law. It is the place where one […]

Inheritance Tax – Some IHT Planning Options Using Trusts Inheritance Tax (IHT) could be considered a ‘voluntary’ tax – give away assets, live seven more years, assets outside your estate for IHT purposes….except it is usually not as simple as that. Giving away assets also means giving away the income from that asset and losing […]

Introduction If you are working somewhere other than your home country, even for a short period of time, you could be exposed to additional tax implications. Tax can seem daunting and can quickly fall to the bottom of the agenda, which comes with a huge risk. With the world of travel opening back up, we […]