PPR in the US
Thursday, 28th August 2008
For a short summary of the PPR equivalent legislation in the US and forthcoming changes to it, see a post by Lylene on the Bellingham Real Estate Blog. It seems that it is not a full exemption, but exempts on the first $250,000 profit per person.
How to reduce your tax bill: Property investments
Thursday, 28th August 2008
BusinessZone.co.uk has an article setting out ways to avoid or minimise capital gains tax on property, using the principal private residence exemption. The article covers rental property and holiday homes.
How to use the Remittance Basis of Taxation from 6 April 2008
Wednesday, 23rd July 2008
From the horse’s mouth, so to speak. HMRC have published guidelines on the use of the remittance basis under the new provisions.
Finance Act 2008
Tuesday, 22nd July 2008
The Finance Act 2008 has received Royal Assent.
Davis v Revenue and Customs Commissioners
Sunday, 13th July 2008
[2008] All ER (D) 144 (Jul); 10 July 2008; Court of Appeal, Civil Division; Keene, Lloyd and Hughes LJJ
There was a dispute about the tax residence of the claimants. The claimants appealed to the Special Commissioners and also applied to the court by way of judicial review, arguing that they had a reasonable expectation to be treated in accordance with IR20.
FAQ: Residence and domicile - non-resident trusts
Wednesday, 28th May 2008
HMRC provide a series of answers to frequently asked questions about the proposed changes to the residence and domicile tax rules relating to Trusts and alienation.
