Tax Planning

October 17, 2018 PensionsTax PlanningPension
Solving Inheritance Tax

Inheritance tax, or the ‘death tax’, could be one of the most disliked taxes in the UK – no one wants their estate to be eroded away before it reaches their family. Currently, the tax-free threshold stands frozen at £325,000 for 2017-2021, or at £650,000 for couples. However, the steady rise in property prices over…

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November 2, 2017 Tax Planning
How to pass on maximum wealth to your next generation. (Inheritance Tax for UK Expats)

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…

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July 30, 2017 Tax Planningexpats
South African Tax Law Amendment Bill Commentary

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…

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November 6, 2016 Market UpdateTax Planning
Money transfer firms to tip off HMRC about transactions

  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…

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September 29, 2016 Tax Planning
British Expats Should Pay UK Tax, Say Financial Experts

  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….

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Gulf states set date for introducing VAT

  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…

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