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Tax Magazines

Non-domiciles subject to new taxation rules

A series of changes to the way in which non-domiciles are taxed in the UK have been put forward by HM Treasury and will now be subject to public consultation. The government hopes that by implementing the tax changes, the system will become… Find out more

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Tax Magazines

Using capital losses and the annual CGT exemption

by Malcolm Finney of www.taxinsider.co.uk Care is required to ensure that an individual’s annual exempt amount for capital gains tax (CGT) purposes is not wasted; in particular, where capital losses are also available for offset. Annual exempt amount The annual exempt amount… Find out more

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Tax Magazines

Selling on eBay: Are you trading?

by Sarah Bradford of www.taxinsider.co.uk HMRC has launched a crackdown on those who trade through an e-market place (such as eBay or Amazon Marketplace) and omit to declare and pay tax on their profits. To encourage those with undeclared income to come… Find out more

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Tax Magazines

Which is the best – pensions or ISAs?

by Tony Granger of www.taxinsider.co.uk Both ISAs and pensions are tax-efficient investment vehicles. Both can be invested into broadly similar investment funds. However, each has unique characteristics which, depending on your personal circumstances, will determine which one you opt for – or… Find out more

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Tax Magazines

Inheritance tax – don’t lose on penalties!

by Malcolm Gunn of www.taxinsider.co.uk On the merger of the Inland Revenue with Customs & Excise to form HMRC, the decision was taken to harmonise the tax penalty regime across all taxes. The net result is that in the fullness of time… Find out more

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Tax Magazines

High earners: how to avoid the loss of the personal allowance and save tax at 60%

by Tony Granger of www.taxinsider.co.uk The personal allowance is a valuable benefit as it reduces your taxable income. However, if you earn in excess of £100,000, then the personal allowance reduces as follows: If your adjusted net income is over £100,000, you… Find out more