Offshore Tax Planning – Tax Innovations https://www.taxinnovations.com Tax Planning, Accountancy & Payroll Tue, 06 May 2025 10:46:04 +0000 en-GB hourly 1 Updates to Advisory Fuel Rates https://www.taxinnovations.com/updates-to-advisory-fuel-rates/ Mon, 02 Sep 2024 14:48:43 +0000 https://www.taxinnovations.com/?p=28697 Updates to Advisory Fuel Rates 2024 Fuel for Company Cars When an employer provides an employee with a company car, they may also provide fuel for that car. Where that fuel is provided for private use, the employee has received a taxable benefit in kind. This benefit is calculated by multiplying a fixed figure (currently […]

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]]> UK Tax Residence – COVID-19 Activity https://www.taxinnovations.com/uk-tax-residence-covid-19-activity/ Wed, 15 Apr 2020 14:57:15 +0000 https://www.taxinnovations.com/?p=23555 The Chancellor of the Exchequer, Rishi Sunak, has written to the chair of the Treasury Select Committee to outline temporary changes to the Statutory Residence Test (SRT) for those coming to the country to work on COVID-19 related activity.

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]]> UK Tax Residence – Impact Of Coronavirus https://www.taxinnovations.com/uk-tax-residence-impact-of-coronavirus/ Mon, 23 Mar 2020 10:57:02 +0000 https://www.taxinnovations.com/?p=23433 People are being prevented from travelling from the UK to other countries at present due to the Coronavirus epidemic. This could affect their UK tax residence status and therefore; their UK tax liabilities.

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]]> Top 10 Expat Tax Tips for Individuals Moving to the UK https://www.taxinnovations.com/expat-tax-tips-moving-to-the-uk/ Fri, 14 Sep 2018 11:30:24 +0000 https://www.taxinnovations.com/?p=8125 The UK tax rules for non-domiciled individuals were thrown into confusion by the proposed reforms to apply from 6 April 2017 not being included in the Finance Act 2017, however, the Government has now confirmed that the Finance Bill due to be published in September 2017 will include the proposed reforms and that they will appl

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]]> Overseas Pension Changes 6 April 2017 https://www.taxinnovations.com/overseas-pension-scheme-changes-2017/ Fri, 07 Sep 2018 08:00:40 +0000 https://www.taxinnovations.com/?p=7593 HMRC have announced that the tax legislation regarding the UK tax treatment of the overseas pension scheme is changing from 6 April 2017.

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]]> Changes to the Taxation of QNUPS https://www.taxinnovations.com/changes-taxation-qnups/ Fri, 07 Sep 2018 08:00:31 +0000 https://www.taxinnovations.com/?p=7509 HMRC is making changes to the taxation of Qualifying Non UK Pension Schemes (QNUPS) but, if structured correctly to provide for your future and that of your family, a QNUPS remains an attractive retirement planning opportunity.

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]]> Disguised Remuneration Update – Loan Charge Enacted https://www.taxinnovations.com/disguised-remuneration-update-loan-charge/ Fri, 26 Jan 2018 16:24:13 +0000 https://www.taxinnovations.com/?p=8460 Continuing HMRC’s long-running campaign against abusive tax avoidance, Finance (No. 2) Act 2017, which was enacted on 16 November 2017, contains legislation to create a one-off tax charge on loans from disguised remuneration (DR) schemes if those loans are not repaid by 5 April 2019.

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]]> Offshore Bank Account Reviews https://www.taxinnovations.com/offshore-bank-account-reviews/ Wed, 22 Mar 2017 09:42:26 +0000 https://www.taxinnovations.com/?p=7749 It is time for non-domiciled “Expat” individuals to consider their offshore banking arrangements if they wish to continue claiming Overseas Workday Relief on an efficient basis.

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]]> Overseas Workday Relief (OWR) – Relief for non-UK business travel https://www.taxinnovations.com/overseas-workday-relief/ Wed, 16 Mar 2016 14:10:29 +0000 https://www.taxinnovations.com/?p=6428 UK domiciled individuals have to file their UK tax returns on the “arising basis,” reporting worldwide income and gains. The remittance basis is available to UK residents that are non-UK domiciled (often called “non-doms”) which means that UK tax is paid on foreign and overseas income or gain but only if remitted (brought) to the UK.

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]]> ATED: New Annual Tax Rules from 1 April 2016 https://www.taxinnovations.com/ated-new-rules-from-1-april-2016/ Wed, 09 Mar 2016 15:45:09 +0000 https://www.taxinnovations.com/?p=6408 ATED is an annual tax payable by companies and other non-natural persons that own UK residential properties.  From 1 April 2016 onwards ATED will apply to properties valued at £500,000 or more, where it previously only applied to properties worth at least £1 million.  The ATED valuation date is 1 April 2012 or the date the property was acquired if that was later.

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