With covid-19 dominating the stage for 2020, there has been little time for the UK government to tackle anticipated reforms to the taxation of the wealthy, resulting in a year of relative stability for the private client tax world. The transparency drive has continued to be a focus, with an extension of the registration requirements under the trust registration service, preparation for DAC 6 reporting obligations, and increasing use of ‘nudge letters’ by HMRC. This year’s Finance Act made an important change to taxation of excluded property trusts, and consultations on capital taxes that tell of things to come.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
With covid-19 dominating the stage for 2020, there has been little time for the UK government to tackle anticipated reforms to the taxation of the wealthy, resulting in a year of relative stability for the private client tax world. The transparency drive has continued to be a focus, with an extension of the registration requirements under the trust registration service, preparation for DAC 6 reporting obligations, and increasing use of ‘nudge letters’ by HMRC. This year’s Finance Act made an important change to taxation of excluded property trusts, and consultations on capital taxes that tell of things to come.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
.jpg?sfvrsn=add6d647_1)
90a1d87b-c1b5-43c3-a720-cd324830adee.tmb-editorspic.jpg?sfvrsn=1b2d0a7e_1)
