Dec 5, 2022 | Bullet Point Update
The general idea of Capital Gains tax (“CGT”) is that if you sell or gift an asset CGT is charged on any increase in value since the asset was acquired. For the purposes of this Note – which focuses on recent changes to the rules for divorcing couples – two...
Sep 11, 2021 | Bullet Point Update
Believe it or not there is something called the Office of Tax Simplification (“the OTS”). It was set up in 2010 and no doubt they try their best but one might think they have not made much headway so far. One does not know what Orlov the meerkat of “simples” fame...
May 15, 2021 | Bullet Point Update
Under the EU Fourth Anti-Money Laundering Directive only trusts with a UK “tax consequence” (or deceased’s estates which counted as “complex estates”) needed to be registered with HMRC’s online Trust Registration Service (“the TRS”). Importantly however, the...
Dec 10, 2020 | Bullet Point Update
The Wealth Tax Commission was established in Spring 2020 to consider proposals for a UK wealth tax. It published its final report this month. The prospect of a Wealth Tax could be met with varied responses; for example: “am I bovvered?” or “nice problem to have”. But...
Dec 12, 2019 | Bullet Point Update
The general rule is that if an individual sells something for more than they paid for it then they are liable for capital gains tax (“CGT”) on the gain. There are various rules and exceptions qualifying that general rule and one of the important exceptions is that...
