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Where Taxpayers and Advisers Meet

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by Yiannis17
Mon Jan 06, 2020 1:32 pm
Forum: Business Tax
Topic: Capital allowances
Replies: 0
Views: 301

Capital allowances

Hi I have a situation here where an expensive diesel car is in a special rate pool. The person is thinking of disposing of the car(used solely for business purposes) to purchase another one. The tax written down value is 60k and the first car will sell for 28k. My understanding is that unless the bu...
by Yiannis17
Sat Jan 04, 2020 5:58 pm
Forum: Property Taxation
Topic: European property - depreciation
Replies: 1
Views: 308

European property - depreciation

Hi

I am preparing a UK tax return for someone who has a property overseas and is declaring this on his UK tax return.The schedule provided contains a large figure for depreciation. Is that allowable on a UK tax return?

Thank you
by Yiannis17
Thu Dec 05, 2019 4:24 pm
Forum: International Tax
Topic: Remittances and declaration in ones tax return
Replies: 3
Views: 612

Re: Remittances and declaration in ones tax return

Thank you for your response. Yes Non UK domiciled and arrived part way through the 2018/19 tax year. Income was recommitted after arrival from a clean account and the amount remitted is approx 20k. Registration to complete a tax return was sent to HMRC and a UTR issued. The remittance basis will be ...
by Yiannis17
Thu Dec 05, 2019 10:42 am
Forum: International Tax
Topic: Remittances and declaration in ones tax return
Replies: 3
Views: 612

Remittances and declaration in ones tax return

Morning

For someone who arrived here last year from Europe and so is recently UK resident, he has brought money over after his arrival to support his living, how are the remittances declared on his self assessment tax return?

Thank you
by Yiannis17
Mon Nov 25, 2019 11:55 am
Forum: Tax Investigations and Enquiries
Topic: Penalties issued by HMRC on investigation
Replies: 2
Views: 1014

Penalties issued by HMRC on investigation

Morning I have an case here with a new client who disposed of a fixed asset and made no declaration to HMRC. He has never completed tax returns in the past, and did not seek any professional advise when the disposal happened. HMRC therefore issued a penalty of deliberate as opposed to carelessness w...
by Yiannis17
Wed Nov 06, 2019 5:24 pm
Forum: International Tax
Topic: Buying the shares in an overseas company
Replies: 1
Views: 993

Buying the shares in an overseas company

Afternoon I have a situation where a UK resident company is purchasing 100% of the shares of a company based in the BVI. The BVI company is a holding company for assets held in the UK. I am completely lost as to the issues I need to consider and would like some help. I am not sure as to the consider...
by Yiannis17
Tue Oct 15, 2019 11:38 am
Forum: International Tax
Topic: Overseas self employment
Replies: 1
Views: 12021

Overseas self employment

Hello

If someone is normally UK resident but they are given a three month work opportunity to work abroad on a self employment basis, will that work need to go on his tax return?

Thanks
by Yiannis17
Tue Oct 08, 2019 4:24 pm
Forum: International Tax
Topic: Non residency and time in the UK
Replies: 1
Views: 5630

Non residency and time in the UK

Afternoon I have a client who had to leave the UK and work abroad so he became non UK resident. His family still live in the UK and he comes back regularly to visit them. He recently returned to the UK and chose to have his operation here as opposed to the currently he is currently resident in. He s...
by Yiannis17
Thu Sep 05, 2019 7:58 am
Forum: International Tax
Topic: Remmitance of money to the UK
Replies: 1
Views: 5579

Remmitance of money to the UK

Morning I have a European individual who has moved to the UK with his wife who is working here. He moved last September and has yet to find employment here. He wishes to remit funds to the UK from his country every quarter. He has yet to register for a UK tax return. The monies that will be brought ...
by Yiannis17
Tue Aug 20, 2019 3:36 pm
Forum: PAYE and Payroll Taxes, National Insurance, NICs
Topic: Tax on compensation payment
Replies: 1
Views: 10557

Tax on compensation payment

Afternoon I have a complicated situation here whereby someone became non resident for about 4 tax years from 2014 and worked abroad for a UK company in the middle east. He was paid by the UK company into his bank account in the middle east. The duties where always performed abroad. However, in one o...

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