EXPERT LEGAL INSIGHTS / Private Client

In his Summer Budget, the UK Chancellor announced major changes to the taxation of UK resident, non-UK domiciled individuals (‘non-doms’) which will have a significant impact on non-doms who have been UK tax resident for more than 15 years (and those approaching 15 years) and non-doms who own UK residential property, however it is held. […]

Funds held in offshore financial centres are under scrutiny and this is set to intensify as we enter an era of global tax transparency. In the new world of tech-enabled tax transparency tax authorities around the world will soon have access to more data than ever before so now is the time to ensure you are fully tax compliant.

In this article first published in the STEP Journal, Volume 23, Issue 2, Nisha Singh advises Asian clients to embrace the era of global tax transparency and disclose their UK tax liabilities.

On 1 January 2015 a new law was passed amending the Russian Tax Code in relation to the taxation of foreign controlled companies and profits of foreign organisations. Nisha Singh of BLP in Singapore and Artem Toropov of Goltsblat BLP in Moscow summarise the key changes and provide a checklist of steps which other advisors may wish to consider with their clients.

On 28 March HM Treasury and HMRC published a consultation document setting out their proposals for charging non-UK residents capital gains tax (CGT) on disposals of UK residential property from 6 April 2015. Following the announcements in the Autumn Statement there was an expectation that the new CGT charge would only apply to properties worth more than £2m that were held by individuals and trustees. The consultation document proposals are much wider than expected.

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