Technical Updates

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technical updates

In-depth analysis of the issues facing our private clients, entrepreneurs and their businesses.

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24 October 2013

Loans from Close Companies - Trouble Ahead?

HM Revenue and Customs announced on 20 March 2013 a consultation on reforming the rules governing the taxation of close company loans to their participators. In addition, Finance Act 2013 introduced specific legislation to counteract three loopholes that have been commonly used by company directors since the inception of the rules in 1965…
Business taxes Personal taxes Technical updates
09 September 2013

Statutory Residence Test

The new statutory residence test applies from 6 April 2013 (retrospectively once the 2013 Finance Bill receives Royal Assent in mid-July). The objective of the test is to alleviate uncertainty surrounding an individual’s tax residency. The legislation maintains the core of the proposals set out previously but there are a number of refinements. Extensive guidance and…
Non-Dom Personal taxes Technical updates
06 September 2013

UK Tax Data Card 2013/14

Please download the pdf to view the UK Tax Data Card 2013/14.
Tax data card Technical updates
03 September 2013

Renewable Energy - An Inheritance Tax Opportunity?

A combination of harder economic conditions for tenants and potentially generous government incentives is pushing more and more landowners to consider renewable energy as a way of diversifying their activities and maximising returns. Few landowners have sufficient experience or knowledge of the development of renewable energy plant and therefore it is most common…
Inheritance tax Technical updates
15 July 2013

Moving to the UK

At Dixon Wilson we advise both UK domiciled and non-UK domiciled individuals on their UK tax and accounting affairs. These affairs tend to become more complicated in anticipation of a move to the UK. Whilst we are able to assist with the UK aspects for any scenario, we highlight below some of the common issues affecting non-UK domiciled individuals…
Non-Dom Technical updates
09 July 2013

The UK’s New General Anti-Abuse Rule (GAAR)

The UK is introducing a General Anti-Abuse Rule (GAAR). This follows the Government’s stated intention in 2010 to legislate for a general measure to prevent abuse of the tax code through tax schemes or avoidance arrangements. Following several rounds of consultation, the GAAR will come into force when the Finance Bill 2013 receives Royal Assent, which is expected in mid-…
Compliance Technical updates
09 July 2013

Changes to Inheritance Tax

In this year’s Budget, the government introduced changes as to how inheritance tax (IHT) will be calculated on the value of a death estate. IHT is calculated on the net value of an estate, that is to say it is calculated on the value of total assets after a deduction of liabilities. The changes will restrict the deduction of certain liabilities, which will mean that some…
Inheritance tax Technical updates
30 March 2013

2013 Budget Update

Note: This update was written on 30 March 2013. It is based on the government’s proposals at that point in time which don’t necessarily represent the final legislation. For that reason, no action should be taken based on this update without taking further advice.
Budget update Technical updates
14 February 2013

Payroll Processing - Real Time Information

HMRC is introducing a new way of reporting PAYE - called Real Time Information (‘RTI’).  From April 2013, all employers are legally required to report Pay As You Earn (PAYE) deductions in real time. This means that information about all PAYE payments needs to be submitted to HMRC online each time a payment is made.  Under the current system employers are only…
Business taxes Personal taxes Technical updates
06 January 2013

French Tax Data Card 2013

Please download the pdf to view the French Tax Data Card 2013.
Tax data card Technical updates
30 December 2012

Ensuring Fair Taxation of UK Residential Property

In the 2012 Budget, the government announced the intention to address concerns that some taxpayers are not “paying their fair share” in relation to UK residential property. The main purpose of the proposed measures is to discourage holding UK residential property in a variety of UK and non-UK structures. The government describes holding properties in such structures as “…
Non-Dom Technical updates
20 December 2012

Inheritance Tax Update 2012

Inheritance tax Technical updates