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Capital Gains Inheritance Tax

McDermott Will & Emery

UK Labour Party's Statement on Non-Dom Tax Reforms

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Following the UK Government’s 6 March announcement of tax reforms for the current “non-dom” tax regimes, the opposition Labour party has begun to outline how its plans would differ if they win the next UK general election. In...more

Proskauer - Tax Talks

Change to non-domicile tax regime forms part of UK Spring Budget 2024

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As part of the UK’s Spring Budget 2024, the Chancellor of the Exchequer, Jeremy Hunt, has announced the abolition of the remittance basis for income tax and capital gains tax for non-UK domiciled, UK resident individuals (the...more

Chambliss, Bahner & Stophel, P.C.

Step-Up in Basis and Why It Matters in Estate Planning

Recent news stories may have made you aware of the “step-up in basis” and the current administration’s desire to eliminate or adjust it. If you are considering engaging in estate planning or you may be inheriting assets,...more

Proskauer Rose LLP

UK Tax Round Up - November 2022

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Welcome to the November edition of the UK Tax Round Up. This month has seen the new Chancellor deliver his Autumn Statement following from the previous Chancellor’s so-called mini budget in October and the Court of Appeal’s...more

Proskauer - Tax Talks

New OTS report recommends changes to UK’s capital gains tax regime

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The Office of Tax Simplification (OTS) has published its first report following its review of certain aspects of the UK’s capital gains tax regime requested by the Chancellor in July this year with the specific purpose of...more

BCLP

Private Wealth - Horizon Scanning 2020

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With a number of changes affecting the private wealth world to come over the next 12 months, our private client team take a look at some of the key UK legal developments for 2020, including the extension of the UK trust...more

BCLP

HMRC updates its guidance on the taxation of cryptoassets in the UK

BCLP on

On 20 December 2019 HMRC updated its guidance on the taxation of cryptoassets. In particular, HMRC has now given its view on where the most common form of cryptoasset (being the exchange token) should be treated as located...more

McDermott Will & Emery

Lifetime Gifting in the United Kingdom: Opportunities and Clarifications

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The Office of Tax Simplification (OTS) recently released a report on simplifying the design of UK inheritance tax (IHT). This article highlights areas where taxpayers might take advantage of existing opportunities to make...more

International Lawyers Network

Buying and Selling Real Estate in England, Wales, and North Ireland

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER BRITISH LAW. Introduction - Historically, there has been significant investment by overseas individuals and corporations in real estate in England and Wales and in particular in...more

McDermott Will & Emery

Final Response to Non-Dom Consultation Published

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The UK government has released its final response to the further consultation on reforms to the taxation of non-UK domiciliaries (non-doms), together with some draft legislation that will take effect from 6 April 2017. As...more

Dechert LLP

Using corporate structures to own UK residential property – a dead end?

Dechert LLP on

Historically, UK resident non-domiciled individuals have been able to achieve certain tax advantages through holding interests in UK residential property through offshore companies. In recent years, the UK government has...more

Proskauer - Tax Talks

Proposed New UK Penalties Regime Precipitated by CRS

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Many people will be familiar with the information gathering and reporting requirements the OECD’s Common Reporting Standard (“CRS”) places on financial institutions. The first exchanges of information between tax authorities...more

McGuireWoods LLP

Further Changes Announced to the Non-Domiciles Regime

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On 19 August 2016, the UK Government published a new consultation paper together with draft legislation which will affect changes to the non-domiciles (“non-doms”) regime in the UK. The proposals will be legislated...more

Bond Schoeneck & King PLLC

Trust And Estate: Changes To UK Resident Non Dom Income Tax Laws Leads To Need To Establish A Resident Non Dom Income Tax Trust...

The UK tax obligations of an individual depend in large part on the individual’s "domicile" under generally applicable English common law principles. The citizenship of an individual is irrelevant under the UK tax system. The...more

McGuireWoods LLP

State of the Union Surprise: President Targets Inherited Assets in Middle-Class Tax Reform

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After the American Taxpayer Relief Act of 2012, many in the estate planning community thought that tax law dealing with estates and trusts was settled for some time. President Obama’s earlier budget proposals calling for a...more

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