Tax-free Christmas gifts and celebrations

Tim Cook

Trust Registration Service opens for non-taxable trusts

 Since 2017, any UK trust that pays income tax, capital gains tax, inheritance tax, or stamp taxes must register with the Trust Registration Service (TRS). HM Revenue & Customs (HMRC) opened the TRS on 1 September 2021 for non-taxable trusts. You must register: Non-taxable trusts in existence on or after 6 October 2020 by …

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What Christmas gift tax implications must employers be aware of?

Keep your workplace Christmas gifts tax-free. Don’t get caught out by the taxman’s naughty list this year and follow our guidelines to take advantage of trivial benefits rules for seasonal gifts to your staff. Under the trivial benefits rules, employers can treat their teams with an item of value that does not count towards taxable …

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Changes to the tax rules for non-domiciled individual (effect from 6 April 2017)

An abbreviated version of this article is featured in the CityWire’s Tax Matters column. Definition and types of domicile Domicile is an old English Law concept which has a bearing on how your clients are taxed. There are four basic types of domicile: Domicile of Origin Everyone has a domicile of origin; it normally comes …

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HMRC publishes long-awaited responses to Making Tax Digital consultations

The Government’s long-awaited responses to six consultations about Making Tax Digital (MTD) which were originally opened in August 2016 were published at the end of January. Despite ongoing criticisms regarding the proposed short MTD timescale, HM Revenue & Customs (HMRC) confirmed that the project will not be delayed. This means that mandatory quarterly digital reporting …

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UK-based Retirement Accounts for US Taxpayers webinar

We are pleased to announce that Tax Partner, Tim Cook,  will be speaking in an upcoming Strafford live webinar, “U.K.-Based Retirement Accounts for U.S. Taxpayers: Mastering Reporting, Maximizing Planning Opportunities” scheduled for Wednesday, September 7, 1:00pm-2:50pm EDT. Because of your affiliation with Wilder Coe Ltd, you are eligible to attend this program at half off. …

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