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Dec 3, 2024 | 
journal.step.org | Kevin Winters
The acquisition of heritable property, i.e., an apartment or house, is generally a happy occasion for clients. Discounting the stress that the process often inflicts on purchasers, they either acquire a home to live in or an asset that contributes to their overall wealth. Purchasing property in most jurisdictions is not without costs and may include payment of certain taxes and/or charges (broadly defined). The same is true for those purchasing property in Scotland.
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Oct 26, 2024 | 
scholarsarchive.byu.edu | Kevin Winters |Mark A. Wrathall |Brigham Young
Keywordsspiritual matter, Mormon materialism, Mormon studies, spiritAbstractIn May of 1843, Joseph Smith gave a decisive statement against dualism: “There is no such thing as immaterial matter. All spirit is matter, but it is more fine or pure, and can only be discerned by purer eyes; we cannot see it; but when our bodies are purified we shall see that it is all matter” (D&C 131:7-8).
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Oct 15, 2024 | 
lexology.com | Kevin Winters
In our increasingly globalised world, many individuals find themselves owning assets in multiple countries: a holiday home in Spain; investments in Singapore; or a bank account in Australia. Owning overseas assets can present challenges with estate planning. One important question is whether you need a will specifically for your overseas assets. What Are the legal issues associated with of owning foreign assets? Owning assets abroad involves grappling with a unique set of legal issues.
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Jul 31, 2024 | 
lexology.com | Alan BaRr |Alan Barr |Kevin Winters
Following on from previous blogs regarding the UK Government's plans for changes to UK resident, non-domiciled individuals (non-doms) are taxed in the UK, more detail has now been given on precisely what those changes will be. Will the Remittance Basis (RB) be abolished? The RB is to be abolished from 6 April 2025. How will foreign income and gains (FIG) be taxed?
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Jul 31, 2024 | 
lexology.com | Isobel D'Inverno |Bob Langridge |Karen Davidson |Alan BaRr |Alan Barr |Neil D Ritchie | +5 more
In a statement to Parliament on Monday 29 July 2024 Rachel Reeves, the Chancellor of the Exchequer, confirmed that her first Budget will be delivered on Wednesday 30 October, and announced a number of significant tax changes.
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Jul 5, 2024 | 
lexology.com | Alan BaRr |Alan Barr |Kevin Winters
Following the announcement of the UK General Election results, the Labour Party now has the means to implement the pledges made in its manifesto. One group of changes, which were subject to extensive commentary prior to the election, were the proposed changes to the UK's existing tax treatment of UK resident, non-domiciled individuals (non-doms).
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Jul 5, 2024 | 
lexology.com | Isobel D'Inverno |Alan BaRr |Alan Barr |Neil D Ritchie |Karen Davidson |Kevin Winters | +1 more
Much has been written over recent weeks about the tax changes included in the manifestos of the various different political parties. Now that the outcome of the election is known, what tax changes can we expect in the months to come and when are they likely to be brought in? No emergency budgetIt seems clear that the new Labour Government will not introduce any immediate tax changes by way of an emergency budget post-election.
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Jun 13, 2024 | 
lexology.com | Kevin Winters
The decision to leave the UK for an extended period of time can be prompted by any number of changes in circumstances: family arrangements have changed; new job opportunities have presented themselves; or the idea of spending time abroad is simply too appealing to pass up. If there is a possibility that you will return to the UK in the future, that can make National Insurance Contributions ("NICs") very important. What are NICs?
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Jun 11, 2024 | 
lexology.com | Kevin Winters
During the 2024 Spring Budget speech, Chancellor Jeremy Hunt outlined that one of the areas for change was the High Income Child Benefit Charge (HICBC). Prior to 6 April 2024, the adjusted net income threshold for the HICBC was £50,000 and from 6 April 2024, this has risen to £60,000. For those earning between £60,000 and £80,000, there will be a gradual clawback of child benefit which is equal to one percent of every £200 of income that exceeds £60,000.
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May 14, 2024 | 
lexology.com | Kevin Winters
Taxation is a subject which can divide opinion among taxpayers for any number of reasons; everyone has their own view on, amongst other things, (i) what should be taxed, (ii) when it should be taxed i.e., on what 'event', and (iii) how much the tax should be. The same too can be said of countries or, to use the correct terminology, 'states': they will each have their own approach to taxation within their own jurisdiction.
