Your help has been absolutely splendid and is greatly appreciated by myself and everyone in the team
Michael Sampson, STM Fiduciaire Ltd
Walking The Line - Editor's Welcome
Lizzie King CTA ATT
Tax Consultant, landtax LLP
Welcome to another edition of Walking The Line. I write this note as Editor in the run up to one of our busiest of periods in the hope that any additional challenges to meet the tax return deadline are minimal this year.
This edition covers the residence consultation document, the foreign branch exemption and information on Switzerland’s Hidden Bank Accounts together with comment on Hastings-Bass, the £30,000 Remittance Basis Charge and US Taxpayers, information on distributions out of Ordinary Income and finally the non-domicile consultation document
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 one of the members of the team.
Please select the articles you would like to read by clicking the links below:
UK Companies - The Foreign Branch Exemption
UK companies with foreign branches are able, by election, to exempt the profits of foreign branches from UK taxation. Find out more here.
Proposals for a Statutory Residence Test - Increased Certainty Welcomed
Melanie Maycroft details the proposed statutory residence test for UK tax residence.
Switzerland’s Hidden Bank Accounts – Time Is Running Short
On 24th August 2011, the UK signed an agreement with Switzerland to tackle the abuse of banking secrecy to assist tax evasion. Tim Keeley covers the implications here
Bits & Pieces
Hastings-Bass - Jersey and UK Disagree
£30,000 Remittance Basis Charge and US Taxpayers
Distributions Out of Ordinary Income
Non-domicile consultation document