hmrc loses multi billion pound court case
Last week the Revenue lost a major case in the European courts which is set to cost the Exchequer at least £5bn. Baker Tillys David Heaton explains what happened.
Tax & Technical
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share and share alike rl360s neil chadwick
Despite delays to US FATCA, the once unthinkable scenario of cross-border exchange of tax information is almost upon us, with over 60 countries now signed up to this or similar agreements. If you don’t deal with the inevitable implications now, you could lose out
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the ins and outs of bonds
All the benefits of good advice at the outset of investing your money in bonds can be undone by making bad decisions when withdrawing it. The need for the right advice is never greater than at this point.
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who wants to join the naming and shaming club
As we await the outcome of a consultation on the naming and shaming of tax avoiders, Baker Tillys head of tax risk and investigation, Mike Down, reflects on the strategy so far.
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is defined ambition the last waltz for final
Changes are coming to UK workplace pensions. Brooklands Pensions' Mark Sanderson explores what they might look like and how they will impact clients.
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how offshore bonds make pensions sense
Following heavy cuts in pension allowances, and more expected within the year, an offshore bond is a useful consideration to complement a pension fund. The trick is to invest both to best effect.
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baker tilly pension liberation issues to contine
This week HMRC announced that it would be clamping down on companies offering to liberate pension funds for individuals. But despite the UK’s pensions minister calling the actions of these firms “fraudulent”, the issue looks set to continue for quite some time to come, says Gary Heynes, private client group partner at Baker Tilly.
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aim to please
From 5 August 2013, AIM stocks became a permitted ISA investment. Within a month the first fund group introduced an AIM ISA inheritance tax saving product the first of many. These changes may alter the advice offered to international clients.
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the pain in spain comes mainly through
If a UK expat dies in Spain, their executors may find themselves embroiled in the Spanish inheritance tax system regardless of where the deceased paid his tax as Helen Rowett, a partner in the private client department of Lodders Solicitors, explains.
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after the climb relief
For UK residents spending time abroad, holding investment bonds can be a good way to avoid paying unnecessary UK tax. However, legislation from HMRC calls for a new calculation. Though deemed ‘not overly complex’, it’s not exactly simple either.
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all the fun of the fair – property taxation
In the pursuit of ‘fairness’, a new value-related annual charge is making the avoidance of UK inheritance tax on company-owned property registered offshore a lot trickier. Now may be the time to call in expert help, says Howard Bilton, chairman of The Sovereign Group
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qrops and their advantages
As ever increasing numbers of people bid the UK farewell in search of a better life abroad, Adam Wrench, head of product & business development at London & Colonial, explores the advantages of a QROPS.