Contact: Anderson Anderson Brown (Scotland)

Draft legislation is about to herald a new era in capital gains tax. The changes are due to come into effect in April this year and will have an impact on all non-UK residents who dispose of a residential property located in the UK. Any gains realised by either a sale or a gift will be subject to CGT, regardless of the value of the sale.

Read more: Property a hot topic as CGT changes loom in UK

Contact: LehmanBrown International Accountants (Shanghai & Beijing, China) 

Subsequent to the plan to establish the Shanghai Free Trade Zone (the Shanghai FTZ) announced by the China State Council in July 2013, China officially launched the pilot FTZ on 29th September 2013, taking a solid step forward to boost reforms in the world's second-largest economy.

The FTZ covers an area of 28.78km2 and integrates four existing bonded zones in the district of Pudong, namely the Waigaoqiao Free Trade Zone, Waigaoqiao Free Trade Logistics Park, Yangshan Free Trade Port Area and Pudong Airport Comprehensive Free Trade Zone.

As stated by Chinese officials, the Shanghai FTZ is being used as a testing ground for a number of economic reforms, in particular, the reform on finance, the investment mechanism as well as the transformation of trading modes. The major breakthroughs of the Shanghai FTZ brought by the overall plan are as follows:

  • Accelerate the transformation of government functions
  • Open up new investment opportunities
  • Enhance transformation of trading mode
  • Open up the financial services sector through innovation
  • Improve the current legal framework

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Contact: Mercer & Hole (London, England - TIAG)

These articles give an overview of some of the property issues that we are typically dealing with. These range from commercial property investment, to families buying property for their children to occupy, a second home investment, maybe a buy to let or a wealthy non UK domiciled individual acquiring a home or investment in the UK. 

  • Buying property for children
  • Capital allowances in commercial property
  • Commercial property investment
  • VAT on student accommodation: 1 April 2015 changes
  • Non UK domiciliaries owning UK property
  • UK residential property – buy to let
  • Residential service charge accounts

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Contact: Ray Polantz, Cohen & Company (Ohio, USA)

"Invest in tax-free offshore funds!" Sounds great, right?

Each year, many U.S. investors fall for these familiar sales pitches. Other investors are simply looking to diversify risk by investing in offshore opportunities. Still others have immigrated to the U.S. and have retained some investments from their home country. In all of these cases, it is important to be aware of the Passive Foreign Investment (PFIC) rules and the tax considerations associated with these investment vehicles.

Read more: Are Passive Foreign Investments Too Good to Be True?

Contact: Ray Polantz; Cohen & Company (Ohio, USA)

 

Doing business internationally is practically a necessity to survive in today's competitive business environment. Many companies find that setting up a separate legal entity in a foreign jurisdiction is the best way to conduct business there. Operating through a foreign subsidiary, however, presents many challenges, including the potential for double taxation of profits.

Read more: Avoiding Double Tax on Overseas Profits