Archives by: Tax Advisory Partnership

Streamlined Filing Compliance Procedures

The US is one of the few countries in the world to tax their citizens not on their US residency status but on their citizenship. This means that US citizens (and Green Card holders) living outside of the US are still required to file an annual US tax return with the IRS. There are many individuals residing outside of the US that have been unaware of this. Some may even be considered to be “Accidental Americans” where they acquired US citizenship at ... Read More

TAP Year-End Tax Tips

Please click here for our 2017/18 year end personal tax planning tips. Read More

IHT on UK residential property – look through to the future

Changes to the inheritance tax (‘IHT’) treatment of UK residential property were originally proposed in the Summer Budget 2015, to take effect as of 6 April 2017.   To date, UK residential property has commonly been owned via non-UK entities (e.g. trusts, companies, partnerships or a combination thereof), largely as a result of the potential inheritance tax protection available in this regard. From 6 April 2017, however, non-UK entities will essentially be ‘look through’ from an inheritance tax perspective the extent that they ... Read More

TAP Advise on Private Equity Deal

Russ Cahill our Corporate Tax Partner advised on the recent WHP Facilities private equity deal providing providing tax advice to Enact, an SME fund which is part of the Endless private equity house. Read More

Exchange Rate Fluctuations for US Persons

Carmen Lee from our US tax team has had a article published in The American magazine, covering the issues faced by US Persons following the fall in value of the pound. You can read it in full here. Read More

TAP Advise On Propercorn Private Equity Deal

Russ Cahill our Corporate Tax Partner advised on the recent Propercorn Private Equity Deal providing providing tax due dilligence in support of the financial due dilligence provided by Sentio Partners to Piper Private Equity and JamJar for their joint £7m investment in Propercorn, the UK’s fastest growing popcorn brand.       Read More

Oil & Gas Workers

We have many client’s who leave the UK to work in the Oil and Gas Industry. A common scenario is for an employee to spend their working time in a low or zero tax regime, but then to spend the rest of the time when they are not working back here in the UK. Due to the nature of these contracts the time spent in the UK can be quite significant and it can be quite easy for an the expat employee to ... Read More

The UK beneficiaries of an Offshore Trust

Our client is an offshore trust which holds a 100% shareholding in an offshore investment company, which held reserves of income and capital gains accumulated over many years. The trustees were intending to make significant distributions to the UK resident and domiciled beneficiaries and needed advice regarding the most tax-efficient method of making these to them. The trust was affected by the “transfer of assets abroad” anti-avoidance provisions, the effect of which is to match any income distributions and other benefits provided to ... Read More

The MBA Graduate

Our client, a non-domciled expat, had recently started a new role with a UK employer following completion of his MBA at a leading US college, at a significant cost. Following a review of his affairs we were able to identify that whilst his MBA study costs had been reimbursed by his employer, the reimbursed amount had been taxed in full via his employers payroll. This is often standard practice, but is not always the correct treatment. A further review of the clients employment ... Read More

Are you an American?

And why you might not want to read this blog if you think you may be. Holding a US passport means enjoying the benefits of unhindered travel to and from the US and many people, who are rightly proud of their US heritage and connections, wish to retain it. As far as tax is concerned though, with US citizenship comes responsibility; you belong to a ‘privileged’ group of taxpayers who are required to file annual tax returns and informational reporting forms ... Read More
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