Tax Question of the Week: Property Swap.

Tax Question of the Week: Property Swap.

Jack and Jill jointly own two investment properties and wish to swap their interests so that they each have ownership of one of the properties. As tenants in common they currently equally own Cornfield with a market value of £210,000 and the original cost of £50,000...
Tax Question of the Week: Foreign Employment Income SATR

Tax Question of the Week: Foreign Employment Income SATR

My client has worked abroad for 4 months, how do I report this on their tax return (“SATR”)? The first thing you need to do is determine your client’s residency status for the tax year. This is determined using the Statutory Residence test. Assuming the 4 months was...
Tax Question of the Week: Carry Back of Charity Donations

Tax Question of the Week: Carry Back of Charity Donations

My client’s 2017/18 net income is just over £100,000 and their personal allowance is being tapered. Is there anything that can be done now? Your client can make a qualifying gift aid donation before their 2017/18 tax return is submitted and treat the gift aid donation...
TQOTW: DEEMED DOMICILE AND REMITTANCE BASIS

TQOTW: DEEMED DOMICILE AND REMITTANCE BASIS

Pilar came to the UK when she began working here in autumn 2002. She was born with Spanish domicile and intends to retire to Barcelona where she grew up. When she moved to the UK, she continued to keep a modest amount of savings in a deposit account in Spain. As she...

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