Automatic Exchange of Information agreements are made between the UK and other countries. These agreements allow the exchange of information between tax authorities of different countries about financial accounts and investments to help stop tax evasion. UK companies, partnerships and trusts may have obligations under AEOI. For example, if more than 50% of the entities […]
Last year the requirement to deduct tax at source on bank, building societies and National Savings and Investments (NS&I) income was removed and income from these sources is now paid gross. This means that trustees and personal representatives have increased reporting requirements. As a result, HMRC introduced interim arrangements so that trustees or personal representatives […]
In light of recent tax changes, including the extent to which tax relief is available for finance costs (including mortgage interest), many buy-to-let landlords have been considering what can be done to improve the tax efficiency of their rental portfolio. For some people options might include: Reducing debt in the rental business Restructuring debt arrangements […]
Today Parliament dissolves ahead of the General Election announced for June 8th. Last week, due to the need for significant amounts of legislation to go through the parliamentary process at short notice, Parliament decided to remove more than half of the clauses within Finance (No 2) 2017 Bill. Some of the key clauses dropped, from […]
