Local professional support - November 2016

UK tax changes require tough life decisions for non-doms?
The cost of being a non-domicled individual (non-dom) and claiming the remittance basis has increased astronomically since April 2008, as is the complexity of the taxation of non-doms with the dramatic changes due to come into force from 6 April 2017.

Pensions tax: the new Chancellor must fix past failings
Nobody will ever criticise former Chancellor of the Exchequer George Osborne for introducing too few new tax laws.

Trustees warned over tax return requests

A quick check of the HMRC gateway system by trustees, or advisers to trustees, is usually enough to confirm if a trust is required to complete a tax return for any given tax year. For 2015/16 a little bit more work may be required.

Is it time for (yet another) rethink on pensions?
Tax relief on pension contributions has, for many years, been the subject of lively debate and, over recent years, we have seen a plethora of legislative changes which have led not to the simple and fair system many would have liked, but to an ever more unsatisfactory and seemingly unfair approach.

Managing the hidden risk of VAT 
VAT is often considered a remote risk for businesses. However, a recent tribunal case highlights the real reputational and financial risk that inaccurate accounting processes can cause.

What advisers of distressed businesses need to know - selling assets at the right price 
It is a stressful and upsetting time for business owners when their business experiences financial difficulties. During this time, businesses will have to navigate a wealth of insolvency jargon that may seem intimidating or simply confusing.  As their attention moves from growth to survival, concerns about wrongful trading and personal liability come to the fore.