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Residence, Domicile and the Remittance basis – How hard is it to become a non-UK tax resident?

Many of you will have seen the Sunday Times article reporting how Lord Alan Sugar allegedly tried to avoid UK tax by leaving the UK for Australia.  It has been reported that, having taken a £390m dividend from his company in 2021, Lord Sugar tried to declare himself a non-UK resident for tax purposes (as […]

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Stealth Tax – the impacts

To quote Jean-Baptiste Colbert: “The art of taxation consists in so plucking the goose to obtain the largest possible amount of feathers with the smallest possible amount of hissing”. Such is the case with the government freezing the tax thresholds. According to the Resolution Foundation, the upshot of the freeze between the years 20/21 to […]

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Trustees’ legal obligations – The Trust Registration Service.

The Trust Registration Service (“TRS”) was established in 2017 to meet the UK’s money laundering obligations. At that time, the requirement to register applied to taxable trusts only. A major change occurred in January 2020, so that all express trusts (taxable and non-taxable) and some non-resident trusts that were in existence on or after 6 […]

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Falling house prices, are you considering selling? – Principal Private Residence guidance

The recent news that UK house prices have fallen at their fastest rate in 14 years may make property owners consider selling property before prices fall further. One area to consider is eligibility for private residence relief, commonly referred to as principal private residence (PPR) relief, which can either eliminate or reduce capital gains tax. […]

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Company ownership of furnished holiday letting properties

The rental market is constantly changing and with recent interest rate rises and stringent regulation many landlords have decided to sell, thus reducing the amount of rental properties on the market and forcing rent up. In this squeezed market, rather than increase rent, some landlords have tried to be a bit more creative to protect […]

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What do the next 12 months hold for the UK tax system?

Insights from Kilsby Williams’ Tax Associate Rob Meredith With a swathe of Westminster by-elections recently, focus has been on national party policies as we build up to the next general election. Whilst we are still unsure when this will be, there is a sense that the prime minister will call it in autumn 2024 to […]

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