30 Mar 2020
US Limited Liability Companies (LLCs) and Base Erosion and Profit Sharing(BEPS)
The OECD’s project to counteract BEPS has altered the tax landscape considerably. The US has either opted out of (or is not fully implementing) a number of the BEPS’ actions, leaving major uncertainty over the treatment of US LLCs.
27 Mar 2020
The UK and US – relief for Angel Investors on both sides of the pond
We wrote about the Chancellor’s decision to cut back Entrepreneurs’ Relief in our Budget Summary. Thankfully, Rishi Sunak saw sense and left Investors’ Relief alone. In this article we compare the UK and US reliefs for Angel Investors.
26 Mar 2020
COVID-19 US relief package
The US Senate has voted on and passed the Phase 3 COVID-19 Relief package, which includes a number of significant tax provisions that would affect individuals and businesses.
25 Mar 2020
COVID-19 – relaxation of UK residency rules
With the COVID-19 pandemic continuing to spread across the UK and around the world, governments are imposing strict restrictions on people’s movements. The UK government has however relaxed the rules for certain non-UK residents who are unable to leave the UK due to the current exceptional circumstances.
24 Mar 2020
COVID-19 – planning for US citizens
The past few weeks have seen significant turbulence in global stocks due to the economic fallout from COVID-19. Although there are more pressing concerns than tax in these difficult times, US individuals are nevertheless able to take advantage of certain unique planning opportunities which result from the current depressed asset values.
19 Mar 2020
Implementation of IR35 tax reforms postponed for another year – Miles Dean
Miles Dean, Head of International Tax, comments in relation to the news that IR35 tax reforms have been postponed for another year. Miles’ comments were published in New Law Journal, 19 Mach 2020, and can be found here. The IR35 rules aim to catch contractors who provide their services through a limited company or other […]
18 Mar 2020
IRS announces foreign trust reporting exemptions
IRS has issued new guidance exempting current and former US citizens and residents from annual reporting requirements for owning (or transferring money to) certain foreign pension and other plans that are foreign trusts.
18 Mar 2020
March 2020 Budget – the highlights
Following the resignation of Sajid Javid last month, there were some doubts as to whether this Spring Budget would go ahead at all. However, go ahead it did. We provide below a summary of the key provisions likely to be of interest to our clients and contacts.
17 Mar 2020
Business leaders call for dramatic rise in emergency support – Miles Dean
Miles Dean, Head of International Tax, comments in relation to business leaders urging the government to dramatically ramp up the levels of emergency support available for companies. Miles’s comments were published in The Guardian, Head Topics, The World News, Top Ten News, News Groove, News Archyves UK and USA News Hub. “Business leaders have urged […]
13 Mar 2020
Entrepreneurs relief scale back ‘just madness’ – Miles Dean
Miles Dean, Head of International Tax, comments in relation to the news that entrepreneurs tax relief will be scaled back by 90%, in CityWire Wealth Manager. Miles’ comments were published in CityWire Wealth Manager, 12 March 2020, and can be found here. “The decision to scale back entrepreneurs relief (ER) by 90% is ‘madness’ in […]
10 Mar 2020
Year-end UK tax planning
As the 2019/20 UK tax year draws to a close, UK-resident individuals should turn their attention to any pre-emptive steps which may be taken by 5 April 2020 in order to optimise their income and capital gains tax position.
6 Mar 2020
Netflix’s UK Tax issue – Miles Dean
Miles Dean, Head of International Tax at Andersen Tax takes a closer look at Netflix’s UK Tax issue. Miles’ article was published in Law360, 05 March 2020, and can be found here. Netflix is the latest US tech company to find its tax affairs under media and political scrutiny, even being accused of “superhighway robbery” […]