Homeowners planning to make some extra cash from renting their properties to sports and festival fans this summer need to be on guard for the tax man. If potential renters can see an online advert on web sites like AirBnB, so can HM Revenue and Customs, warns London tax accountant Stefanie Stapleton of Blick Rothenberg. […]
Tax Articles
Tax Avoidance Crackdown On Wealthy Expats In Spain
March 1, 2019
Wealthy British expats in Spain face a tax crackdown as huge amounts of information about their offshore finances is swapped with other countries. Spain’s tax authority, the Hacienda, has new powers and technology to scrutinise data received under the international common reporting standard. Under Spanish laws, every expat should have filed a Modelo 720 tax […]
Protest Grow Over Tax Demands For Accidental Americans
July 29, 2018
Thousands of people around the world are facing unexpected tax bills because they are Accidental Americans. Accidental Americans are those considered as US citizens by birth even if they have never set foot in the country. Many are children of American expats captured in the US tax net by the Internal Revenue Service. They are […]
HMRC To Ask The Rich What They Think About Paying Tax
April 24, 2018
HMRC is spending £80,000 trying to find out how Britain’s wealthiest taxpayers feel about tax compliance. Researchers want to speak to these rich taxpayers but feels few will want to help the inquiry. The target for the report is anyone earning more than £20 million a year as their tax affairs are handled by personal […]
Offshore Tax Avoidance Amnesties Ready To Close
December 3, 2015
Taxpayers who want to take advantage of reduced penalties by declaring secret offshore income and assets to HM Revenue & Customs (HMRC) have until the end of the year to bring their finances up to date. All the current offshore disclosure schemes will close on December 31, according to an announcement from HMRC. Although a […]
Start-Ups Fail To Cash In On SEIS Tax Breaks
January 20, 2014
Many entrepreneurs are not cashing in on the benefits of massive tax breaks offered by the government-backed Seed Enterprise Investment Scheme (SEIS). Although more than a thousand companies have applied for SEIS approval from HM Revenue & Customs, many other business that could benefit from start-up incentives could still be missing out on funding. The […]
India’s U-Turn On Tough Tax Laws
June 18, 2013
India’s controversial bid to crackdown on people avoiding tax has suffered a setback – and the new laws are now to sit on the backburner for two years. The General Anti-Avoidance Rules (GAAR) targets foreign firms and investors from washing money through tax havens, particularly in Mauritius. One of the problems is that around 40% […]
Tax Choices For Expats Living In Britain
May 16, 2013
If you live in the UK but have a main home in another country, HM Revenue and Customs has issued new guidance about how to pay taxes. Essentially, taxpayers need to decide how they want to pay tax on their gains – such as the sale of property – and income from abroad. This is […]
Tax Havens Snub ‘Son Of FATCA’
February 27, 2013
Secretive financial haven ministers are snubbing an agreement with the British government that would allow a two-way flow of information between tax authorities. Dubbed ‘Son of FATCA’ after a similar controversial law in the US, the Jersey and Guernsey governments have declined to sign an agreement that would make them automatically reveal who is holding […]
Expat landlords should file a UK tax return
November 13, 2012
It’s coming around to tax return time for British expats again – and many forget that if they are renting out a property back home they still have to file a return wherever they may be living. As reported last month by iExpats.com, thousands of expats who leave Britain to work abroad for years at […]