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Where Taxpayers and Advisers Meet

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by GlobalTaxAdviser
Mon Apr 23, 2018 10:38 am
Forum: Income Tax
Topic: Tax on shares when director leaving
Replies: 1
Views: 382

Re: Tax on shares when director leaving

This is a little complex as depending on the conditions the selling of shares could have income or capital tax implications. You could end up paying tax of only 10% if it comes under a capital transaction. Remember there is stamp duty too. I assume the company is buying back the shares ? The Shares ...
by GlobalTaxAdviser
Mon Apr 23, 2018 10:22 am
Forum: Property Taxation
Topic: BIK pub manager - please help!
Replies: 1
Views: 659

Re: BIK pub manager - please help!

Hi

There shouldn't be any BIK implications as it is specifically exempt. See here under living accommodation exempt from tax

https://www.gov.uk/government/publications/living-accommodation-hs202-self-assessment-helpsheet/hs202-living-accommodation-2015

Kind Regards

GTA
by GlobalTaxAdviser
Fri Apr 20, 2018 5:41 pm
Forum: International Tax
Topic: Allowable expenses when working in the UK on an international assignment
Replies: 5
Views: 1184

Re: Allowable expenses when working in the UK on an international assignment

Hi You maybe able to claim duty detachment relief and National Insurance Exemptions I would also check if your employer should be paying Employer NIC on your earning under the DPNI Scheme Further if it is deemed a permanent establishment exists your company maybe liable for Corporation Tax and will ...
by GlobalTaxAdviser
Wed Apr 18, 2018 3:16 pm
Forum: Income Tax
Topic: Private miles and the HMRC
Replies: 3
Views: 630

Re: Private miles and the HMRC

Hi

Yes you can pay the private element based on advisory fuel rates . My clients use a very good app to keep tabs of business and personal mileage.

Kind Regards

GTA
by GlobalTaxAdviser
Tue Apr 10, 2018 2:14 pm
Forum: International Tax
Topic: (Confused) UK citizen travelling to USA for several months as consultant
Replies: 1
Views: 709

Re: (Confused) UK citizen travelling to USA for several months as consultant

Hi You may still be considered as UK tax Resident under the Statutory Residence Test and therefore any income earned worldwide would be taxable in the UK. It would be easier to declare the income as self employed though depending on the long term a limited company maybe an option. If you are station...
by GlobalTaxAdviser
Sun Apr 08, 2018 10:15 pm
Forum: Income Tax
Topic: Mobile individual looking to minimize taxes
Replies: 4
Views: 616

Re: Mobile individual looking to minimize taxes

Hi

I think with these types of questions and the complexity you are better taking professional advice from someone who is familiar with such setups.

Kind Regards

GTA
by GlobalTaxAdviser
Sat Mar 24, 2018 10:48 am
Forum: Income Tax
Topic: Foreign Income
Replies: 7
Views: 740

Re: Foreign Income

You cannot use the Australian credits in the UK
by GlobalTaxAdviser
Wed Mar 21, 2018 12:22 am
Forum: Business Tax
Topic: Ltd Company tax obligations outside UK
Replies: 1
Views: 1319

Re: Ltd Company tax obligations outside UK

Hi Bill A UK Resident company is liable for Corporation Tax on its world wide profit. Germany may want to tax the profits if the UK company is being managed from Germany. There maybe a case of double tax and the tie breaker will determine which country has primary taxing rights If you are going to b...
by GlobalTaxAdviser
Mon Mar 19, 2018 9:09 pm
Forum: Business Tax
Topic: Ltd company contracting
Replies: 4
Views: 1350

Re: Ltd company contracting

Remember Corporation Tax Rate is falling and will go down to 17% and there is talk of 15% as well.

On the other hand I expect at some point the government will increase the dividend tax rate.
by GlobalTaxAdviser
Mon Mar 19, 2018 12:09 pm
Forum: Company Taxation
Topic: How much time is involved in doing the adminstration for running a Limited Company pls?
Replies: 5
Views: 1528

Re: How much time is involved in doing the adminstration for running a Limited Company pls?

I am not sure anyone can tell you how long it will take and will depend on so many other factors. The book-keeping is the easy part but other parts may not be so easy ie Annual Account and Corporation Tax. In addition knowing how to optimise the tax side. I would suggest if you are not comfortable t...

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