Foreign currency considerations
There are special rules that must be considered when buying and selling assets in foreign currency. This is sometimes known as a barter...
Overseas tax issues
Category Archives: Overseas tax issues
03 Oct
Overseas tax issues
High penalties for offshore tax evasion
There are higher penalties for taxpayers evading Income Tax and Capital Gains Tax relating to offshore matters. HMRC’s compliance check notice entitled Higher...
18 Jul
Overseas tax issues
Requirement to correct tax due on overseas assets
The Requirement to Correct (RTC) legislation created a new statutory obligation for taxpayers with undeclared UK tax liabilities that involve offshore matters. The...
18 Apr
Overseas tax issues
Non-resident landlord’s scheme
The Non-resident landlord (NRL) scheme is a special scheme for the UK rental income of non-resident landlords. This includes companies or trustees whose...
14 Mar
Overseas tax issues
New offshore tax penalties
New legislation that comes into effect from 1 October 2018 will see higher penalties for anyone with undeclared offshore assets. HMRC has published...
21 Feb
Overseas tax issues
HMRC’s requirement to correct
The new requirement to correct (RTC) legislation was introduced by the Finance (No.2) Act 2017. The legislation created a new statutory obligation for...