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Introduction of the US Recovery Rebate Tax Credit

Submitted by Sestini & Co | on Sat, 03/28/2020 - 12:34 | In international tax, non-dom, Tax planning and pensions

On 27th March 2020, the US agreed a package of measures designed to help mitigate the impact of the Covid-19 pandemic. Named the Coronavirus Aid, Relief, and Economic Security (CARES) Act, it provides for direct payments to individuals and small businesses.

Tags: CARES Act, coronavirus, Covid-19, Recovery Rebate Tax Credit, Tax credit, US tax

US tax update – file early

Submitted by Sestini & Co | on Wed, 03/25/2020 - 18:14 | In international tax, non-dom

The IRS has confirmed extended filing and payment dates however, not all US states are mirroring the 3-month deadline so get in touch with us for guidance.

Tags: FBAR, IRS, US tax

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The furlough scheme continues to run with reduced support from government in September and a further reduction in October before the scheme ends on 31 October. Read more on our blog on changes on changes from 1 September and from 1 October. Please get in touch if you need help. pic.twitter.com/ZqNMuV59Xc

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🇪🇺 If you’re a British citizen living in the EU, be vigilant as your UK bank account may get closed as a result of Brexit. ❌ Customers of Lloyds, Barclays and Coutts will be affected, with others likely to follow suit. theguardian.com/money/2020/se… pic.twitter.com/xus6awgZ6i

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One of the tax measures introduced with immediate effect in the summer statement was to reduce to zero stamp duty on properties with a purchase price up to £500,000. It applies in England and Northern Ireland only, and will run until 31st March 2021. pic.twitter.com/TI8YIepCq3

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Capital Gains Tax (CGT) on sales of residential property now needs to be reported within 30 days of sale thanks to new rules which came into effect on 6 April 2020. If you have sold your property please let us know ASAP so that we can report it to HMRC via a standalone return. pic.twitter.com/6nfBJh2CGB

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