Submitted by
Sestini & Co | on Thu, 03/16/2023 - 10:55 | In
Budget,
Tax planning and pensions 16th March 2023
In yesterday’s Budget, Chancellor Jeremy Hunt offered some positive news for individual pension savers, helping to offset the many tax increases are hidden in plain sight through the range of freezing measures as announced in the Autumn Budget.
The headline announcement for individuals was the abolition of the pension lifetime allowance; for businesses the headline positives were enhanced R&D credits and full capital expensing for three years of qualifying plant and machinery. For a number of years, the government has been keen to [- -]
This month (7 January 2023), the US government has announced plans to reduce its fee for the citizenship renunciation scheme from US$2,350 to just US$450. Rule-making will now begin to change the fee level.
The reduction in the much-criticised fee will be welcomed by many.
The decision comes just a few days before oral arguments in a court case were put to a US district court judge in Washington, DC.
The court case was brought by the Association of Accidental Americans who argued that “the [- -]
In today’s Autumn Statement, Chancellor Jeremy Hunt warned of a substantial tax increase. Many of the tax increases are hidden in plain sight through freezing across a range of measures. One announcement welcomed by many was that there will be a windfall tax on energy companies from January 2023 to March 2028, at 35%; and that a temporary higher tax of 45% will be placed on electricity generators. The anticipated changes to non-dom tax levels or remittance basis were not made, perhaps unexpectedly, [- -]
In the 17th October 2022 announcement, new Chancellor Jeremy Hunt unveiled further changes to the September announcements, read our round-up to find out how you could be affected by these tax changes.
From 6 April 2023 married couples and civil partners who are divorcing will no longer need to settle their estates within the current short window of the tax year in which they separate, known as ‘the year of permanent separation’.
With the recent uproar over Akshata Murthy’s tax status in the UK and her decision not to elect the remittance basis of taxation going forwards, we thought it would be interesting to do a round-up of some of the tax incentives offered across Europe to individuals relocating who have previously been non-resident in the territory in question.
Submitted by
Sestini & Co | on Wed, 02/09/2022 - 11:43 | In
Tax planning and pensions IRS reportedly has a backlog of more than 6 million unprocessed tax returns, even though the return payments associated with these tax returns have been processed. Here’s what to do if you receive a ‘failure to return’ notice.
Submitted by
Sestini & Co | on Mon, 11/01/2021 - 9:19 | In
Budget,
Pensions,
Tax planning and pensions Chancellor Rishi Sunak in the 27th October Budget freely acknowledged that taxes are at their highest for 70 years, but pledged to cut them against a backdrop of positive news from the OBR calculating that the economy will hit pre-Covid levels by the end of 2021, and that the economy is expected to grow by 6% in 2022.
“By the end of this Parliament, I want taxes to be going down not up,” he said.
We’ve highlighted below key tax points from [- -]
Many US taxpayers are experiencing significant delays to tax refunds during this year’s filing season. Our staff can file and liaise with the IRS on your behalf, helping to make the process much smoother.
If you’re a non-dom or not resident in the UK and are making direct or indirect disposals of UK property or land, you need to tell HMRC about Capital Gains Tax, read our blog to find out more.
