International tax

Tax / Scottish government needs ‘more work’ on financial management

The Scottish government needs to do more work if it is to be successful in managing public finances, according to an assessment by Audit Scotland which says it must build a clearer picture of how much financial devolution will cost and how staffing challenges will be addressed

Tax / US grassroots coalition calls for end to FATCA

A coalition of 23 US taxpayer protection and grassroots organisations is campaigning for the repeal of the Foreign Account Tax Compliance Act (FATCA), labelling the regulations 'unacceptable and un-American’ on the grounds they fail to tackle tax avoidance by US citizens based overseas while making it harder for them to live and work abroad

Tax / US corporate tax regime could shift to territorial basis

The US corporate tax regime could be set for a major shift to a territorial basis, rather than its current worldwide basis, under plans to overhaul its system 

Tax / Non-resident companies owning property to pay income tax and CGT

The government is consulting on the capital gains tax and income tax liability of non-resident companies owning UK property with a view to bringing their taxable income and/or gains from the disposal of certain UK residential property interests, within the UK tax regime for the first time

Tax / Brazilian tax appeal halves footballer Neymar’s tax fine

Barcelona football striker Neymar has had a 188.8m Brazilian reals (£49m) fine for tax fraud halved after a Brazilian tax appeals court ruled in his favour and reduced an earlier penalty for alleged non-payment of income tax

Tax / Trump’s leaked 2005 tax return reveals £31m bill

President Donald Trump’s partial tax return, which was leaked to a US television network on 14 March, shows he paid $38m (£31m) in tax on more than $150m (£123m) of income in 2005

Tax / Budget 2017: implementation dates effective April 2017 onwards

Our essential snapshot of the key measures announced in Budget 2017, Finance Bill 2017 and NICs Bill, including NICs hike for self employed, dividend tax-free allowance slashed to £2k, overseas pensions transfers (QROPS) face potential 25% tax surcharge and Making Tax Digital rollout delayed for smallest companies and landlords sub-VAT threshold

Tax / Budget 2017 briefing: key measures at a glance

In our roundup of the Budget 2017 essentials, we review the key tax measures announced in a slimline event, from the unexpected hike in national insurance rates for the self employed to a cut in the tax-free dividend allowance, potential tax liability for pensions transferred overseas, corporation tax cuts and VAT roaming charges for long haul travellers for the first time

Tax / Budget 2017: interest deductibility rules finalised

The government has released long-awaited clarification on the rules on restrictions of interest deductibility, which are due to come into force from 1 April 2017 and are likely to affect nearly 4,000 businesses, particularly multinationals

Tax / Budget 2017: inheritance tax for non doms from April 2017

The Chancellor has confirmed that the heavily-trailed deemed domicile concept from 6 April 2017 will be included in Finance Act 2017 while inheritance tax (IHT) liability kicks in and a review of corporation tax for non-resident companies will be conducted

Tax / Budget 2017: changes to non dom rules effective 5 April

Significant changes in the taxation of non doms will come into effect at 5 April but the law to effect these is still evolving. Alison Palmer, director at Mercer & Hole reviews the tax changes from CGT rebasing to foreign income within trusts 

Tax / Budget 2017: withholding tax on interest extended

The government plans to renew and extend the administrative simplifications of the Double Taxation Treaty Passport scheme to assist foreign lenders and UK borrowers and encourage inward investment

Tax / Budget 2017: tax loopholes closed with effect 8 March 2017

The following five measures announced in the Budget 2017 by Chancellor Philip Hammond are effective immediately, with a particular focus on curbing tax avoidance activity

Tax / Budget 2017: corporation tax rate cut to 19%

In line with the government’s need to keep the UK as competitive as possible in the Brexit world, the Chancellor continued to cut the UK’s corporation tax rate bringing it down to 19% from 1 April

Tax / Irish businessman loses £4.3m tax refund bid on backgammon win

Irish businessman and racehorse owner J P McManus has lost a battle in the US courts over his claim that $5.2m (£4.25m) of US tax withheld on his gambling winnings from a game of backgammon should be refunded under the US-Ireland double tax avoidance treaty