The list below is a collection of articles that refer to, mention or discuss Government.
The GAD rate is the way of calculating how much income to take from a capped drawdown pension pot when the money was invested in income generating funds. Capped Drawdown was scrapped when pension freedom rules came into force from April 6, 2015. Although Capped Drawdown is closed to retirement savers, anyone working under the … Read more
You don’t have to be a full time expat to fall under the tax rules of non resident landlord scheme. Although most people would take non-resident as a landlord living permanently outside the UK, the scheme follows a different logic. Strict rules decide how any income tax on property rental profits is paid, so getting … Read more
IRS stands for Internal Revenue Service and is often known as the agency that collects taxes. But what else do they do? How did they start and what is their role in the taxes you pay. Check out this in-depth guide on the Internal Revenue Service and how they work. History The IRS dates back to … Read more
The Foreign Account Tax Compliance Act or FATCA is essential reading for US expats. The rules are aimed at stamping out tax evasion by American taxpayers who hide money or other assets in unreported offshore accounts. The US Internal Revenue Service (IRS) lists offshore avoidance as one of the ‘dirty dozen’ ways taxpayers try to … Read more
Life expectancy in Britain over the past decade has dropped back for the first time in a century. A detailed survey highlights some ‘shocking’ health inequalities across the nation. The sad truth is that the poorer you are and how deprived the area where you live is, the more likely you are to spend more … Read more
A hush-hush tax probe is underway to stop wealthy investors avoiding inheritance tax with family investment companies. HM revenue & Customs set up a special unit to investigate family offices a year ago. The FICs are believed to manage more than £1 trillion in assets which are escaping IHT by exploiting legal loopholes. The main … Read more
Expats will soon collect their coding notices from the tax man, but what does the strange jumble of numbers and letters mean? Recently, tax codes have changed depending on which country in the UK where someone lives. For expats, the tax coding will appear on a Form P60 from HM Revenue & Customs which lets … Read more
Budget 2020 was big on spending but light on cutting taxes – but pension rules have changed for the highest earners. The tapered annual allowance for pensions has been a buffer stopping doctors working longer hours because their pay arrangements meant earning more put them at risk of tax penalties as much of the extra … Read more
World leaders are beginning to realise that there’s a lack of co-ordination over action to tackle the coronavirus crisis. Although doctors and academics are working together to make sense of data and come up with a vaccine, politicians are enforcing different sets of rules. In the UK, Foreign Secretary Dominic Raab has announced a three-week … Read more
Conservative MP Phillip Davies appears to have conspired with Labour opponents to see off moves to give expats living overseas for more than 15 years the right to vote in UK elections. He filibustered the Overseas Electors Bill 2017-19 despite the private members bill winning government backing. The bill aimed to scrap the 15 year … Read more