A new rule aimed at preventing individuals from using companies to avoid taxes through the Transfer of Assets Abroad (ToAA) provisions applies to income arising to persons abroad on and after 6 April
Category: Overseas tax issues
Tax problems arising from international business or personal affairs.
Guide to overseas workday relief in the UK
A Guide to Overseas Workday Relief in the UK Navigating tax regulations can be daunting, especially when dealing with income from overseas work. If you're a UK resident or a non-UK domiciled individual,-Overseas Workday Relief-(OWR) can significantly reduce your UK tax liability on earnings from work done abroad. This relief allows you to claim tax … Continue reading Guide to overseas workday relief in the UK
Double Taxation: How to Claim Relief for Foreign Income
Double Taxation: How to Claim Relief for Foreign Income If you earn income from a foreign source, you may find yourself in a situation where you're taxed twice - both by the country where your income originates and by the UK. However, the good news is that you can often claim tax relief to recover … Continue reading Double Taxation: How to Claim Relief for Foreign Income
Understanding double tax treaties in the UK
Understanding double tax treaties in the UK Double tax treaties, also known as double taxation agreements, play a vital role in facilitating international trade and investment by preventing double taxation. These agreements are designed to provide relief and clarity to taxpayers operating across borders. In this blog post, we will explore the concept of double … Continue reading Understanding double tax treaties in the UK
Worldwide Disclosure Facility tackles tax avoidance
If you have offshore tax issues, the Worldwide Disclosure Facility (WDF) may be the solution for you. Launched in 2016, this program allows taxpayers to come forward and disclose their tax liabilities to HM Revenue & Customs (HMRC) without fear of criminal prosecution. In this article, we will discuss the key benefits of the WDF, … Continue reading Worldwide Disclosure Facility tackles tax avoidance
Do I pay UK tax on foreign income?
Figuring out whether you need to pay tax on income earned outside of the UK depends on whether HMRC classifies you as a -UK Resident-.If you are not classed as a UK Resident, you will not pay tax on your foreign income. UK Residents will pay UK tax on all of their income, no matter … Continue reading Do I pay UK tax on foreign income?
HMRC Worldwide Disclosure Facility (WDF) for Dummies
Find out what the Worldwide Disclosure Facility is all about and what to do if they contact you first
HMRC launch offshore property owners campaign
It has been reported by the Chartered Institute of Taxation (CIOT) that HMRC is to launch a new campaign to tackle non-compliance linked to offshore corporates owning UK property. HMRC has conducted a