Non-UK Residents Buying Residential Real Estate in the UK

The United Kingdom has long been an attractive destination for international investors looking to purchase real estate. From the bustling streets of London to the serene countryside of Scotland, the UK offers a diverse range of investment opportunities. However, non-UK residents should be aware of the tax implications associated with buying property in the country. […]

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Make Your Assets Work for You With Business Asset Disposal Relief

Business Asset Disposal Relief (BADR)is an excellent tool to mitigate a capital gains tax liability on the disposal of business assets, shares or securities in trading companies. It is available to individuals and trustees, and it works by applying a rate of Capital Gains Tax (CGT) of 10% to qualifying gains up to a lifetime […]

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Holdover Relief on Gifts

Section 165 of TCGA 1992 refers to a provision of the tax legislation that allows individualsor trustees to defer the payment of capital gains tax when gifting certain assets to anotherperson. The relief granted by section 165 is called Holdover Relief. The relief is specifically designed to facilitate the transfer of assets without imposing animmediate […]

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Understanding the Worldwide Disclosure Facility

The Worldwide Disclosure Facility is a digital service that allows taxpayers to disclose discrepancies in offshore monetary gains, investments, or assets with HMRC. The updated disclosure agreement program differs from previous offers, so taxpayers should understand the terms before notifying and disclosing to avoid unnecessary penalties.  The Purpose of the Worldwide Disclosure Facility: Increasing Tax […]

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Investments in offshore funds and the remittance basis

For non-domiciled UK-residents claiming the remittance basis of taxation is verycommon to hold foreign investments. These investments can include foreign currency, shares in foreign companies, debtsecurities, art and offshore investment funds. This article focuses on the taxation of offshore investment funds held personally by UK-resident non-domiciled remittance basis users. Offshore Fund Offshore funds are part […]

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