Read Lindsey's  briefings on the latest changes in the pensions world and  updates for all Entrepreneurs. Also, don't forget to  check out some of Lindsey's previous blogs as these may still have an impact on  your financial portfolio.

The Spring Budget March 2017 & 2017/2018 Update

Personal Allowance and Higher Rate Threshold

The Personal Allowance will rise from £11,000 to £11,500 in 2017/2018. The point at which higher rate income tax starts will increase from £43,000 to £45,000 in 2017/2018. …

Tax Planning


With the end of the tax year approaching, this is a good time to review your finances to see if any action should be taken by 5 April 2017.

 Ensure Personal Allowances (£11,000) and basic rate bands are fully utilised;  where possible, consider further dividends and/or equalising incomes between spouses, as personal allowances are clawed back once gross income exceeds £100,000. …

UK Citizenship

Post-Brexit, EU nationals will be concerned about their future status in the UK. Before EU nationals can apply for British Citizenship, they first need to apply for a residency permit.

Until 12 November 2015, EU nationals were able to qualify for British Citizenship once they had achieved the required five years of residence, automatically qualifying them for permanent residence under EU law (and met all the other requirements).

Proposed Changes to the taxation of non-domiciliaries

The government published a further consultation document ('con doc') on 19 August 2016 relating to the proposed changes to the taxation of non-domiciliaries. The con doc poses a number of specific questions but also provides a bit more detail on the future changes.

Unintended consequences?

There’s been minimal comment or publicity of what may be an unintended hit to charitable giving. Although it will be individual donors, not the charity, who will pay the penalty for falling into this new trap, it is incumbent on charities to make sure their donors are aware of the change, if nothing else to preserve donor goodwill.

Withdrawal of concessional treatment for commercial loan arrangements

HMRC announced on 4 August 2014 that a concession for overseas loans remitted to the UK was being used in a way that was not intended, and to bring existing arrangements into line with HMRC’s application of the remittance basis to loan collateral arrangements going forward from that date.

Summer Budget 2015

The Chancellor of the Exchequer delivered his 2015 Summer Budget on 8 July 2015. 

This is a summary of the announcements on tax and related matters.  The Budget documents include details of changes which have been announced previously.  …

The Non-resident Landlords (NRL) scheme

The NRL scheme is designed to collect tax from UK property income where the landlord is not resident in the UK.

Under the scheme, a UK agent handling let property for a non-UK-resident landlord, or the 

March 2015 Budget Highlights

This summary has been prepared very rapidly and is for general information only. The proposals are in any event subject to amendment before the Finance Act is passed and may also be subject to change following the General Election. …

UK Capital Gains Tax and non UK residents (NRCGT)

A new charge of capital gains tax on residential property owned by non-residents (NRCGT) will be imposed from 6 April 2015, but only on gains that arise from 6 April 2015 onwards. The gains attributed to periods before 6 April 2015 will not be subject to NRCGT. …

New CGT rules for non-residents from April 2015

These represent a significant change to the tax position of non-residents. However, the rules also impact on UK residents insofar as they are looking to claim Principal Private Residence ('PPR') relief.

Share options and internationally mobile employees

Currently how an employee is taxed on the exercise of their option is dependent on their tax residence position at grant of the option.

If they are non-UK resident at grant, no income tax arises on exercise of their option even if they are UK resident at the time of exercise. …

FATCA and UK Trusts

The US made significant amendments to its tax laws by passing the Foreign Account Tax Compliance Act (FATCA), which came into force on 1 July 2014. The aim of FATCA is to reduce global tax evasion and, therefore, tax authorities have agreed to collect and exchange information on each other’s tax residents.

Withdrawal of concessional treatment for commercial loan arrangements.

Under the rules there is a remittance of foreign income or chargeable gains if:

a. money or other property is brought to, or received or used in the UK by or for the benefit of a relevant person, and

Budget 2014 - Highlights


• From April 2015 all tax restrictions on the amount that pensioners may withdraw from their pension pots will be removed.

• The taxable element of pension pot is to be taxed at the marginal rate of tax (rather than the current 55% tax rate) from April 2015. …

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