Clock ticking to submit new ATED returns to HMRC

HIGH VALUE RESIDENTIAL PROPERTY If you own an interest in a UK residential property held completely or partly through: • A company; or • another corporate body; or • a partnership, where one of the partners is a company; or • a collective investment vehicle, for example a unit trust or an open ended investment company (OEIC) then you need …

Follow the Crowd!

FOLLOW THE CROWD! – CROWDFUNDING FOR FILMS A number of organisations will bring together filmmakers and interested investors. The investors will generally have a preference for the choice of film in which they are interested and this may be based on: • Genre of films; • topics of films; • scoring range; • films packaged in a certain way or …

Netflix discuss their future at the Cannes Film Festival 2015

Netflix Chief Content Officer, Ted Sarandos, at Cannes Film Festival 2015 A recent review of the hours-by-watching of Netflix subscribers shows that only a third of the time is spent viewing movies and two thirds of the time is spent viewing television programs. Films compress a story into a couple of hours whereas a television series may extend the story …

Changes to Tax on Enveloped Dwellings (ATED)

The returns and tax are normally due by 30th April in advance of the year but for the year commencing 1st April 2015, returns falling into the new band of between £1-2 million are not required until 1st October 2015 with tax payable by 31st October for this year only. This means that a further tax return and tax payment …

Capital Gains Tax changes – April 2015

Capital Gains on UK Residential Property for Non-Residents 6th April 2015 is the start date for a new capital gains tax charge on disposals by non-residents of residential property in the UK. Currently capital gains tax only applies to those who are UK resident. Gains on certain types of communal accommodation, care homes, nursing homes, purpose built student accommodation and …

Undisclosed Tax Liabilities

A number of banks in the Channel Islands and elsewhere are now asking their clients for proof of identification, address, and that all funds held in their accounts have been properly disclosed to revenue authorities. HSBC is the latest to ask those with Jersey bank accounts to attend a meeting there and those that do not comply will find their …