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Walking The Line - Editor's Welcome
Melanie Maycroft ACA CTA AAT
Tax Consultant, landtax LLP
Welcome to the second edition of Walking the Line. I would like to begin by taking this opportunity to wish you all a Happy and Prosperous New Year on behalf of all of the team.
I write this note as Editor during our busiest of periods in the hope that the treacherous weather conditions of December have now passed us by and do not create additional challenges to the January rush to meet the tax return deadline.
This edition covers the increased importance of structuring offshore arrangements for non-UK domiciliaries, comment on arrangements in the light of the Smallwood case and a review of the draft legislation published on 9 December to tackle tax avoidance by the use of employee benefit trusts (EBTs) and certain types of unapproved pension schemes.
I hope that you find the articles both interesting and useful. If you have any particular areas that you would like us to cover in future editions then please do not hesitate to contact either myself or one of the other members of the team.
Please select the articles you would like to read by clicking the links below.
It used to be simple
Individuals not domiciled in the UK used to have a simple solution to their UK tax problems. Melanie Maycroft discusses the changes over recent years which have meant that such structures will, in their original form, no longer work.
Tax Avoidance – The Coalition Declares Its Hand
Tim Keeley covers the Government's proposals to tackle tax avoidance by the use of employee benefit trusts (EBTs) and certain types of unapproved pension schemes.
Around the world with Mr Smallwood
Melanie Maycroft covers the moral aspect of cases where taxpayers have tried to avoid tax by reference to the strict letter of the law or, more recently, seeking to exploit ‘loopholes’ in tax legislation and/or double tax treaties.
Bits & Pieces
Pamela Chatterjee provides topical pointers including:
Capital Gains Tax for temporary non-residents