Entrepreneurs Relief Changes

Previously, in order to qualify for Entrepreneurs’ Relief, an individual must have held shares which represented five percent of the ordinary share capital which entitled them to five percent of the voting rights. From 29 October 2018, the shares must also entitle the holder to five percent of the company’s distributable profits and five percent … Read More

Spring Statement 2019

The Chancellor’s 2019 Spring Statement gave the government the opportunity to consider the longer-term fiscal challenges ahead of Brexit, and initiate consultations on how these can be addressed. Following this, we have put together a PDF which provides an overview of the updated forecasts for the UK economy and public finances, which we trust you … Read More

Rebasing election

• If you have paid the remittance basis charge in any of the previous years you can rebase your foreign assets as of 5 April 2017. If you have not paid the RBC, there may still be an opportunity to rectify this. • The assets must have been located outside the UK throughout the period … Read More

This is an issue that is very current and which people should pay attention to, with the strength of the dollar against sterling. Americans who have non-US dollar mortgages and change the terms of their mortgage or make capital repayment on their mortgages, such transactions are deemed a taxable event for US tax purposes and … Read More

The U.S. Internal Revenue Service has finally updated its voluntary disclosure procedures following the closure of the Offshore Voluntary Disclosure Program (the “OVDP”) earlier this year. The updated procedures will apply to all voluntary disclosures made after September 28, 2018. Prior to its closure, the OVDP provided non-compliant taxpayers with a fixed civil penalty framework … Read More

The Chancellor has now revealed the Autumn 2018 Budget, which is the last Budget prior to Brexit. Click here to view and download Frontier Group Budget Report 2018 Key Highlights Higher Rate Band threshold will not kick in till £50,000 which takes into consideration the increased Personal Allowance for 2019/20 of £12,500 The Capital Gains … Read More

On December 15th, the congressional conference committee charged with reaching a consensus on the competing versions of the Senate and House tax reform bills released its conference report containing the language of the final bill. The final bill, titled Tax Cuts and Job Acts (TCJA), is expected to be approved by both chambers next week … Read More