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15 Nov 2024

Autumn Budget - The highlights series (Article 6: UK Budget considerations for Americans)

In our last article of the series, Matthew Fox, Tax Director, highlights some key considerations for Americans residing in the UK following the UK Autumn Budget delivered last month:

13 Nov 2024

Autumn Budget – The highlights series by Sopher + Co (Article 5: Capital Gains Tax)

After months of speculation as to how high Capital Gains Tax (CGT) rates could go, Rachel Reeves finally confirmed the new rates applicable for individuals in the Autumn Budget.

12 Nov 2024

Autumn Budget – The highlights series by Sopher + Co (Article 4: Inheritance Tax and Pensions)

In the Autumn Budget changes to Inheritance Tax and Pensions were announced. In this article Emma Cottrell, Tax Director highlights the updates.

06 Nov 2024

Autumn Budget – The highlights series by Sopher + Co (Article 3: Long Term UK Residence - Temporary Repatriation Facility)

Among the updates in the Autumn Budget delivered by Rachel Reeves was confirmation and additional detail on the Temporary Repatriation Facility (TRF), which allows unremitted foreign income and gains to be taxed at favourable rates in a 3 years window.

05 Nov 2024

Autumn Budget – The highlights series by Sopher + Co (Article 2 : Simplification of Overseas Workday Relief)

Overseas Workday Relief (OWD): Under the new FIG regime employees will be able to claim OWD for duties performed overseas for a longer period of up to four years of tax residence.  The real benefit of these new rules is that anyone who qualifies will be eligible for the relief regardless of their domicile status and the income does not have to be kept offshore.  This will be a welcome break from the need to track remittances and structure bank accounts, so funds are not mixed.

01 Nov 2024

Autumn Budget – The highlights series by Sopher + Co (Article 1: Foreign Income and Gains)

Among the Budget updates was confirmation and additional detail on the Foreign Income and Gains (FIG) regime, which provides tax relief on overseas income and gains for individuals’ first 4 years of UK tax residence.

24 Oct 2024

Autumn Budget 2024: What To Expect ?

As we approach the new government’s first Autumn Budget on 30th October, significant tax changes could be on the horizon. 

02 Oct 2024

Sopher + Co Named Among the 2024 Eprivateclient Top Accountancy Firms

We are thrilled to announce that Sopher + Co has been named one of the 2024 eprivateclient Top Accountancy Firms, as we continue our commitment to providing exceptional client service. We are honoured to be recognised among the industry’s leading UK tax advisory firms providing advice to domestic and international private clients, their businesses and their families.

25 Jul 2024

Moving to the UK - Update on UK Non-Dom Regime Reforms

Earlier this year, both the Labour and Conservative parties committed to ending the non-dom tax regime. With Labour's election victory on 4 July, their version of the reforms will now be implemented.

21 Mar 2024

The biggest hurdle when dealing with inheritance tax - that no one talks about!

The imposing of inheritance tax comes at a very emotional time for those family members involved and it can be a timely process. Obtaining the relevant documentation and information required from the executor can be confusing but is crucial for Inheritance Tax calculations. 

08 Mar 2024

The Spring Budget - What's next for "non doms"?

After watching one of the rowdiest budget speeches that I can recall we are now dealing with the aftermath of significant changes to the taxation of “non doms”.  Having worked in UK tax for a number of years the proposal that the status of “non dom” and remittance basis of taxation will become redundant is quite sobering.  

01 Feb 2024

Changes to the corporation tax regime and associated companies

Changes in the corporation tax regime have been enacted by government and came into effect from 1 April 2023. As a result of these changes, the main rate of corporation tax has been increased to 25% on all profits earned by companies whose taxable profits exceeding £250,000.

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