Category: Factsheets

Our views on the latest news, events and industry issues affecting our clients, both in the UK and worldwide.

  • Personal Tax – When is Income Tax and Capital Gains Tax Payable?

    This is an introduction to the general principles of Income Tax and Capital Gains Tax in relation to Personal Tax. Under the self assessment regime an individual is responsible for ensuring that their tax liability is calculated and any tax owing is paid on time.

  • VAT

    This is an introduction to the general principles of Value Added Tax (VAT). VAT registered businesses act as unpaid tax collectors and are required to account promptly and accurately for all the tax revenue collected by them. The VAT system is policed by HMRC with heavy penalties for breaches.

  • Capital Gains Tax: An Overview

    This is an introduction to the general principles of Capital Gains Tax. A capital gain arises when certain capital (or 'chargeable') assets are sold at a profit. The gain is the sale proceeds (net of selling costs) less the purchase price (including acquisition costs).

  • Inheritance Tax – A Summary

    This is an introduction to the general principles of Inheritance Tax (IHT). IHT is levied on a person's estate when they die and certain gifts made during an individual's lifetime. Here we explore the main opportunities for minimising the impact of this tax.

  • Statutory Residence Test

    This is an introduction to the general principles of Statutory Residence Testing. The concept of residence in the UK is fundamental to assessing the extent of an individual's UK tax liability and relies heavily on counting 'days of presence' in the UK in the relevant tax year.

  • IR35 Personal Service Companies

    This is an introduction to the general principles of IR35 Personal Service Companies. IR35 is the UK's anti-avoidance tax legislation, designed to tax 'disguised' employment at a rate similar to employment.

  • Corporation Tax Self Assessment

    This is an introduction to the general principles of Corporation Tax Self Assessment. In it, we explore the requirements and practicalities for businesses, as well as the enquiry regime and potential penalties.

  • Non-Domiciled Individuals

    This is an introduction to the general principles of Non-Domiciled (Non Dom) Individuals. Here we summarise the rules dealing with UK taxation of income and capital gains arising outside the UK for non-doms (individuals who are resident in the UK but domiciled elsewhere) up until April 2025.

  • National Insurance

    This is an introduction to the general principles of National Insurance (NI). It is often overlooked yet it is the largest source of government revenue after income tax. Here we explore some of the issues and potential problems.

  • Personal Tax – Self Assessment

    This is an introduction to the general principles of Personal Tax and Self Assessment. Under the self assessment regime an individual is responsible for ensuring that their tax liability is calculated and any tax owing is paid on time.