- June 2021 Newsletter - As we approach the summer, and hopefully a return to some form of normality in the coming months, it feels that changes are afoot and there are reasons to feel positive. The still recent Budget trod a delicate balancing act between increasing taxes to fund the cost of the pandemic whilst not wanting to strangle a recovering economy.
- The UK Wealth Tax (and whether it could be avoided). The Wealth Tax Commission (“WTC), comprised of academics and tax professionals, was established in July 2020 to provide an in-depth analysis of proposals for a UK wealth tax to help address public finance shortfalls arising from the Covid-19 pandemic. Its final report was published on 9 December 2020.
- Capital Gains Tax Increases IN BRIEF - September 2020. Why rate increases are expected, current/future rates, when rates would rise, and planning points. There has been recent speculation that rates of capital gains tax (CGT) could be set to increase as the Government seek to recoup some of the mounting costs of supporting the UK economy through the Covid-19 pandemic.
- Advance planning for emigration - by Natasha Smith, Meridian. More people talk about emigration for tax reasons than actually go ahead with it, and this is for good reason. The realities of the upheaval required and the necessity to emigrate to somewhere with a suitably attractive tax regime make it a very difficult decision. Nevertheless, it does seem that more people are seriously considering this option at the current time.
- Protected settlements for non-UK domiciled individuals by Jon Croxford, Meridian. The tax rules for non-UK domiciled individuals changed significantly in 2017 when new legislation brought them fully within the scope of UK tax once they have been UK resident for 15 years. As a quid pro quo, however, the concept of protected settlements was introduced.
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