Category Archives: Tax Planning

How to pass on maximum wealth to yo...

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HMRC collected close to £5 billion in Inheritance Tax (IHT) in 2016. If you take into consideration that only an estimated 45,100 estates were liable for IHT, that’s an average tax bill of £110,865 per estate. There are many complicated rules that stipulate how much IHT is payable on an estate but, with some basic … Continue reading How to pass on maximum wealth to your next generation. (Inheritance Tax for UK Expats)

South African Tax Law Amendment Bil...

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There has been a lot of noise in the South African expat community around the Draft Taxation Laws Amendment bill (DTLA), specifically the proposed removal of the 183 day foreign tax exemption. This is of particular concern for those living in high living cost environments such as the UAE.With an estimated 120,000 South Africans in … Continue reading South African Tax Law Amendment Bill Commentary

Money transfer firms to tip off HMR...

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  Expats switching cash from Britain offshore with money transfer services will soon have their transaction reported to the tax man. Under a new initiative, HM Revenue and Customs (HMRC) intends to demand any money service firm dealing with foreign currency exchange should report the details of the transaction. The aim is to stop expats … Continue reading Money transfer firms to tip off HMRC about transactions

British Expats Should Pay UK Tax, S...

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  Taxing British expats wherever they live in the world is the only way to stop tax avoidance scandals, financial experts claim. The Chartered Institute of Securities and Investment (CISI) wants British passport holders to pay income tax and capital gains tax to HM Revenue and Customs (HMRC) regardless of where their home is located. … Continue reading British Expats Should Pay UK Tax, Say Financial Experts

Gulf states set date for introducin...

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  The Gulf States have finally succumbed to raising taxes in a bid to repair their oil-ravaged finances. The six nations have agreed to introduce a value-added tax (VAT) on goods and services sometime in 2018. The leaders and finance ministers have discussed implementing the tax for some time, but the plunging price of oil … Continue reading Gulf states set date for introducing VAT

Expats May Face More Taxing Times I...

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Expats are facing the unthinkable – losing subsidies, benefits and maybe even paying income tax in the Gulf States. Oil is the culprit. A spectacular decline in the price a barrel from more than $100 to around $30 in less than two years is forcing the rulers of once oil-rich desert kingdoms to rethink their … Continue reading Expats May Face More Taxing Times In The Gulf

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