HMRC Launches Campaign: UK Crypto Investors Tax Risks
In a bid to ensure tax compliance among the burgeoning crypto community in the UK, HMRC has launched a targeted campaign, sending out over 8,000 advisory letters to crypto investors as the self-assessment deadline looms. The move is part of...
Understanding UK Tax on Foreign Income
In an era of global mobility, many individuals find themselves working, investing, or residing in countries beyond their homeland. As the world becomes increasingly interconnected, so do the implications for taxation. For residents and non-residents in the United Kingdom, the...
Inaccurate Self-Assessment Tax Returns Leaves Property Owner with £100k Penalties
Property owner Sunday Salokun faces substantial tax and penalty payments following a Capital Gains Tax case, highlighting the repercussions of inaccurate self-assessment tax returns and undisclosed property disposals. The case emphasizes the importance of compliance with tax regulations and seeking...
De-Enveloping UK Property: A Case Study
Explore the intricacies of de-enveloping UK properties in our detailed article, featuring a real-world case study of a successful process. Stay informed about tax and regulatory considerations as you navigate this strategic move in response to evolving tax laws.
Incorporation Relief Letter from HMRC – Capital Gains Tax for Property Businesses
HMRC's targeted letter campaign aims to address specific taxpayers who reported no Capital Gains Tax after incorporating their property businesses. Emphasizing accuracy in calculations, the letter urges recipients to verify their Incorporation Relief claims, seek professional advice if uncertain, and...
Supreme Court Ruling: £385k Tax Dispute Resolved in HMRC’s Favor
The article discusses a landmark Supreme Court ruling in the UK, favoring HMRC in a £385k tax dispute with Vermilion Holdings. The case revolves around the taxation of a share option received by a software engineer, establishing a crucial precedent...
HMRC Attacks Hybrid Business Property LLP Model | Spotlight 63
Understanding the controversy surrounding a tax scheme for property landlords and HMRC's strong stance against its efficacy, urging corrective actions and compliance with tax regulations.
Reducing Capital Gains Tax on Second Home Sales: Expert Strategies
It covers topics such as the computation of capital gain, the annual exemption, the private residence relief, the letting relief, and the allowable deductions for reducing CGT liability.
Urgent Surge: UK’s Tax and NIC Receipts Soar in April-August 2023
Learn UK’s financial statistics for April 2023 to August 2023, showing remarkable growth in key tax categories.
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