Bespoke - for private clients
Wednesday, January 23, 2013 | Posted by: Naomi Smith
Categories:
Personal,
Protecting your wealth
| Tags: tax,
HMRC,
penalties,
liability,
Naomi Smith,
Tax Return,
deadline,
charges,
fines,
reasonable excuse,
penalty,
January 31,
unpaid tax,
late filing
It used to be that filing your tax return late would bring an automatic £100 penalty – an amount many were prepared to pay. And if you had paid your tax in full before 31 January the penalty was reduced to nil. But this fairly relaxed regime finished in April 2011, and the penalties can now be much higher, in fact up to 100% of the tax due.
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Wednesday, June 13, 2012 | Posted by: Dave Jennings
Categories:
Personal,
Protecting your wealth
| Tags: tax planning,
HMRC,
offshore,
income tax,
Dave Jennings,
tax avoidance,
tax havens,
disclosure,
investigation,
banking,
penalties,
Liechtenstein Disclosure Facility,
Liechtenstein,
tax amnesty,
Switzerland,
LDF,
tax evasion,
savings,
offshore bank accounts,
Tax Investigations,
UK-Swiss deal,
secrecy
The UK-Swiss tax deal just got more expensive for Swiss bank account holders following changes to a similar agreement between Switzerland and Germany. Find out exactly what the changes mean for UK holders of Swiss bank accounts…
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Tuesday, May 29, 2012 | Posted by: Francesca Lagerberg
Categories:
Protecting your wealth
| Tags: HMRC,
CGT,
tax policy,
Gaines-Cooper,
residency,
Tax Investigations,
non-uk residence,
guidance,
Mansworth v Jelley,
enquiry,
changing rules,
capital losses,
judicial review
In some recent high-profile tax cases some individuals have been caught out by HM Revenue & Customs (HMRC) changing its mind or perhaps ‘clarifying its view’. With ongoing uncertainty over the Mansworth v Jelley case guidance, it begs the question: how much can you rely on what HMRC says in its guidance?
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Tuesday, January 24, 2012 | Posted by: Naomi Smith
Categories:
Personal,
Protecting your wealth
| Tags: tax,
HMRC,
penalties,
liability,
Naomi Smith,
deadline,
charges,
fines,
reasonable excuse,
penalty,
January 31,
unpaid tax,
tax return,
loophole,
late filing
The 31 January tax return filing deadline is fast approaching but many taxpayers are blissfully unaware of HMRC’s new penalties for late filing and could be in for a nasty surprise.
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Tuesday, November 22, 2011 | Posted by: Louisa Naylor
Categories:
Personal,
Protecting your wealth
| Tags: tax,
HMRC,
advice,
investigation,
penalties,
code of practice,
fraud,
COP9,
Louisa Naylor,
enquiry,
civil fraud,
Code of Practice 9,
tax investigations
An increasing number of people with large funds held in offshore accounts are receiving a Code of Practice 9 (COP9) letter through their door as UK tax authorities strive to assess a further £7 billion of evaded taxes by 2014. Grant Thornton’s new tax investigations helpline is a first port of call. Meanwhile, tax manager Louisa Naylor looks at what you should do if you are caught by a tax investigation.
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Thursday, November 10, 2011 | Posted by: Dave Jennings
Categories:
Business,
Personal,
Protecting your wealth
| Tags: tax,
HMRC,
property,
income tax,
Dave Jennings,
overseas,
tax haven,
commercial property,
income from property,
offshore assets,
evasion,
holiday homes,
Tax Investigations,
avoidance,
foreign property ownership,
foreign assets,
afluent teams,
homeowners
Holiday homes and offshore assets won’t be a personal tax haven for long as HM Revenue & Customs (HMRC) continues to crack down on those not paying the correct tax with a new initiative looking into those who own property abroad.
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Wednesday, November 09, 2011 | Posted by: Mike Warburton
Categories:
Personal,
Protecting your wealth
| Tags: HMRC,
non-dom,
Gaines-Cooper,
non-domicile,
Mike Warburton,
UK residency,
IR20,
non-residency,
UK resident,
Lord Mance,
Inland Revenue,
Court of Appeal
Hundreds of expats and tax exiles may be at risk of an unexpected tax bill after Robert Gaines-Cooper, who moved to the Seychelles in the 1970s, recently lost his claim to be non-resident for UK tax .
Director Mike Warburton, who was an expert witness in the case, reviews the ruling, which has major UK residency and tax status implications for anyone who leaves the UK to live abroad.
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Thursday, September 22, 2011 | Posted by: Dave Jennings
Categories:
Personal,
Protecting your wealth
| Tags: tax planning,
HMRC,
offshore,
income tax,
Dave Jennings,
tax havens,
disclosure,
investigation,
banking,
penalties,
Liechtenstein Disclosure Facility,
tax amnesty,
Switzerland,
savings,
Liechenstein,
evasion,
Swiss,
Tax Investigations,
UK-Swiss deal
The new UK-Swiss deal clamping down on tax evasion is expected to drive UK investors into the arms of Liechtenstein – with significant tax savings possible through the Liechtenstein Disclosure Facility (LDF).
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Wednesday, August 17, 2011 | Posted by: Dave Jennings
Categories:
Personal,
Protecting your wealth
| Tags: tax,
entrepreneurs,
HMRC,
offshore,
income tax,
government,
Dave Jennings,
tax avoidance,
budget,
disclosure,
investigation,
penalties,
income,
relief,
Liechtenstein Disclosure Facility,
Liechtenstein,
amnesty
The plumbers amnesty (Plumber’s Tax Safe Plan or PTSP) that HM Revenue & Customs (HMRC) launched in March, was criticised as being a ‘damp squib’ at the time after a low take-up with many plumbers unconvinced that HMRC had any information about any undisclosed earnings. HMRC has hit back with news that it has arrested five plumbers on suspicion of tax evasion.
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Friday, July 08, 2011 | Posted by: Dave Jennings
Categories:
Personal,
Protecting your wealth
| Tags: tax,
tax planning,
HMRC,
offshore,
Dave Jennings,
tax havens,
disclosure,
investigation,
banking,
penalties,
Liechtenstein Disclosure Facility,
Liechtenstein,
tax amnesty,
amnesty,
Switzerland,
LDF,
HSBC,
evasion,
Tax Investigations
With a new round of tax investigations being launched into customers of HSBC in Switzerland, HM Revenue & Customs’ (HMRC’s) drive against holders of undeclared offshore bank accounts is heating up. Waiting to come forward could result in higher tax and penalties, so what are the tax amnesty options?
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