UPDATES
US and UK tax laws are constantly being updated. We believe that clients should always be aware of changes that may affect them. We have therefore written a number of articles based on current legislation which may be of interest. This information should not be taken as full comprehensive advice and we highly recommend that you contact a PJD tax representative for more information.
TAX SCAMS AND FRAUD
Have you recently received an email or message telling you that you are due a refund of tax? Wait! If you were not expecting a refund then this is likely to be fraud. Paul Devonshire explains how to spot the scams.
NET INVESTMENT INCOME TAX
What is NIIT? Read on to find out more.
ARISING BASIS VS REMITTANCE BASIS
Is claiming the remittance basis always the best option? This article discusses the benefits of claiming the remittance basis of taxation verses reporting worldwide income and gains.
UK CAPITAL GAINS TAX
This article briefly explains the calculation of UK capital gains tax.
PRINCIPAL PRIVATE RESIDENCE RELIEF (PPR) – UK TAX
Principal Private Residence relief allows you to claim tax relief in the UK against the gain made on the sale of your main home. On the basis that you have occupied the property for the entire period of ownership then the gain will always be tax-free. Read on to find out if you are eligible for PPR relief.
UK PENSION CONTRIBUTION ALLOWANCE
There have been a few changes to UK pensions in recent years. This article briefly explains the changes to the pension contribution allowance, how this affects Defined Contribution Schemes and how to optimise your contributions going forward.
US TAX RETURN FILING DEADLINES & PENALTIES
The deadline for filing your 2017 US Federal individual income tax return was April 17th, 2018. If you filed an extension or you qualify for an automatic extension, then there is still time to file your return before you start to incur any late filing penalties. This article summarises the important deadlines and penalties for US taxpayers
I’M A US TAXPAYER AND I’M THINKING ABOUT SELLING REAL PROPERTY
If the process of selling a property isn’t stressful enough, US taxpayers face a series of complex rules to determine whether they have to pay tax on a capital gain made on the sale.
MISSED THE 2017/18 UK TAX RETURN FILING DEADLINE?
A brief outline of HMRC’s penalty regime. Don’t ignore it! Penalties are assessed on late filed tax returns even if no tax is due!
RESIDENTIAL LANDLORDS, ARE YOU AWARE OF THE CHANGES?
There have been recent developments to UK Tax legislation on calculating rental profits. Did you know that the 10% Wear & Tear Allowance has been abolished, and there is a restriction to the amount of mortgage interest that can be claimed as a rental deduction?