Brexit Tax Implications, Tax System Issues – Direct Tax, Indirect Tax, Tax Cuts, Import Tax, Corporation Tax & VAT… Introduction – Brexit Tax Implications/ Issues So Mrs May’s plan on Brexit suffered a bigger battering than Burton Albion in last week’s league cup Semi-Final. This article attempts to pick over 
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Negligible Value Claims 2019 – The Facts The sale of company shares and other assets for more than their purchase price will generally give rise to a charge to capital gains tax. Conversely, the disposal of shares for less than their purchase price will result in a capital loss. Such 
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The Right Structure for the The Wrong Trousers: Aardman founders sell to Employee Ownership Trust Aardman Animation are pioneers of stop-motion animation, the creators of international icons of modern British culture, Wallace & Gromit, as well as a string of other successes such as Shaun the Sheep, Flushed Away and 
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Business Investment Relief Introduction – Business Investment Relief Business Investment Relief (BIR) was introduced to promote investment in the UK by enabling UK resident non-domiciled individuals to invest overseas income and gains into the UK, without paying any tax on remitting the income or gains.  Conditions For BIR to apply, 
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Common Reporting Standard Common reporting standard – introduction The Common Reporting Standard (CRS) is an agreement between over 100 jurisdictions to facilitate a universal system of automatic information sharing. In particular, this relates to UK residents holding foreign investments and property or has a source of overseas income. The CRS 
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Requirement to Correct Requirement to Correct – Introduction The Requirement to Correct(RTC) legislation was introduced in the Finance (No 2) Act 2017 to bring into account offshore tax evasion and non-compliance that relates to income, assets, activities or anything having an effect as if it were income, assets and activities. In 
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Split Year Treatment  General Rules Under the Statutory Resident Test, an individual is either UK resident or non-UK resident for a full tax year. However, if during a tax year the individual either starts to live or work abroad or comes from abroad to live or work in the UK, 
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Introduction – statutory residence test Residence has a huge bearing on the tax position of a person for UK purposes.  Taxpayers who are resident in the UK in a tax year are taxable on their worldwide income and capital gains arising in that year,  while taxpayers who are NOT resident in the UK in a 
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Crypto asset tax : The New HMRC Guidance Update… In December 2018, HMRC released their long-awaited policy paper on the appropriate tax treatment of cryptoassets. This being HMRC’s second paper on this, the first being published in 2014. The paper goes some way in undertaking the difficult task of marrying 
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January not only marks the start of the New Year but, for many people, a fresh start – a chance to make changes to their private and professional lives. However, for millions of people across the UK, it’s a time of stress as they make an annual attempt to finalise 
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