The following Private Client practice note provides comprehensive and up to date legal information covering:
As discussed in the UK resident non-domiciliaries—tax planning Practice Note, non-domiciled individuals resident in the UK can claim to be taxed on the remittance basis. This means that only their UK source income and gains and the foreign income and gains they remit to the UK are subject to UK taxation. Remittance basis users are therefore exempt from UK tax on foreign earnings that are kept outside the UK.
Until 6 April 2008, UK resident non-domiciled individuals were not taxed under section 87 or Schedule 4C of the Taxation of Chargeable Gains Act 1992 (TCGA 1992). In effect this meant that trust gains could be remitted to the UK by a beneficiary free of UK tax. This was amended with the introduction of Finance Act 2008 (FA 2008) though the scope of changes is limited by the reliefs afforded to non-domiciliaries. This Practice Note summarises the conditions for three main reliefs which are:
exemption of pre-6 April 2008 capital payments and TCGA 1992, s 1(3) (formerly known as 2(2)) amounts, and
the remittance basis
In this Practice Note, the term ‘capital payments’ means payments subject to TCGA 1992, s 87 or Sch 4C.
The rebasing election does not allow 'rebasing' of all the trust assets. Rather it restricts the amount of s 87 or Sch 4C gains arising to a trust that can be
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The principle of transferred maliceIf a person has a malicious intent towards X and, in carrying out that intent, injures Y, he is guilty of an offence. So, if D shoots at A with intent to kill him but kills B by mistake it is murder; the mistake as to the identity of the victim is irrelevant as D
When is quantum meruit and quantum valebat relevant?Claims in quantum meruit (value of services) and quantum valebat (value of goods) arise in diverse situations ranging from where contractual terms are silent on issues of payment to where there is no contract at all (Serck v Drake & Scull).General
On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.
Coronavirus (COVID-19): During the current pandemic, legislation and changes to practice and procedure in the courts and tribunals have been introduced, which affect the following:•proceedings for possession•forfeiture of business leases on the grounds of non-payment of rent•a landlord's right to
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