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Tax traps: When HMRC changes its own guidance

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

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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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What are the tax implications of bringing funds into the UK from abroad?

Tuesday, November 01, 2011 | Posted by: Naomi Smith
Categories: Personal, Protecting your wealth | Tags: tax, tax planning, offshore, UK, income, domicile, non-dom, residence, Naomi Smith, overseas, non-domicile, residency, offshore funds, non-residency, remittance basis, foreign income, ordinarily resident, tax liabilities, resident

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There are currently a quarter of a million online discussions asking questions about how you will be taxed if you bring money from abroad or transfer foreign income into the UK. The multitude of answers are enough to tax anyone’s brain, but the foremost deciding factor is domicile. Here,we look at the situation for both UK-domiciled and non-domiciled individuals.

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Retiring abroad could be more taxing than you think

Thursday, March 03, 2011 | Posted by: Naomi Smith
Categories: Personal, Protecting your wealth | Tags: tax, property, capital gains tax, inheritance tax, CGT, IHT, retirement, residence, Naomi Smith, family, overseas, HMRC6, residency, UK residency, refunds, retire, children, abroad, options

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Planning to move abroad for retirement? Fancy a sunnier climate and ending your UK tax residence? We don’t blame you! But you’ll need to look at your tax position carefully because becoming non-resident is now more difficult than ever. Here’s why…

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Thinking of leaving the UK? Be sure to sever all ties

Thursday, April 08, 2010 | Posted by: Sue Knight
Categories: Protecting your wealth | Tags: tax, HMRC, Sue Knight, tax havens, domicile, residence, Gaines-Cooper, HMRC6, residency, IR20, UK residents, non-residency, status

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An intolerable uncertainty now exists for UK non-residents following the outcome of the Judicial Review hearings of Davies, James and Gaines-Cooper – as I outlined last month in

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UK residency status all at sea as HMRC targets tax exiles

Thursday, March 04, 2010 | Posted by: Sue Knight
Categories: Protecting your wealth | Tags: tax, HMRC, HNWIs, Sue Knight, tax havens, domicile, residence, Gaines-Cooper, residency, IR20, UK residents, status, Finance Bill 2008

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The

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New Irish domicile ‘wealth tax’ puts HNWIs in line of fire

Wednesday, March 03, 2010 | Posted by: Richard Jameson
Categories: Protecting your wealth | Tags: tax, HMRC, HNWIs, Richard Jameson, corporation tax, domicile, Gaines-Cooper, residency, Ireland, high net worth individuals, IR20, Irish domicile levy, 2010 Finance Bill

Ireland has been held up as a country with a progressive and attractive tax regime, so the proposal for a domicile levy has taken Irish high net worth individuals (HNWIs) aback. On the other side of the Irish Sea, the recent findings in the Messrs Davies and James and Mr Gaines-Cooper case regarding

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