Knowledge Base.

Director Loans Limited Company: You may be interested in our Article on Limited companies and tax structures. You may also be interested in knowing more about our property tax services to help you buy and rent residential properties in a more tax-efficient way.        

IRS Form 8938 and FBAR reporting IRS Form 8938 and FBAR reporting are essential tax considerations for ex-pats with foreign investments. Form 8938 is used to report specified foreign financial assets if the total value of all specified foreign financial assets is more than the allowed reporting threshold. FBAR stands for Foreign Bank Account Report […]

How much tax does a landlord pay? The amount of tax a landlord pays is subject to their total taxable income. If a landlord pays the basic tax rate, this is 20%, while in a higher rate taxpayer, the landlord will pay 40%. The additional rate bracket will mean a landlord pays 45% tax. There […]

On 27th October 2021 Rishi Sunak delivered the latest budget. Rishi Sunak delivered the tax budget and there was a lot to address, especially in the face of COVID19 and the financial pressures that the disease has brought to the United Kingdom The key highlights of the budget are as follows: – £5 billion will […]

HMRC’s £7,500 Rent a Room Scheme HMRC’s Rent a Room Scheme was introduced in 1992 to incentivise homeowners and property investors to let out spare rooms in their homes. According to HM Treasury, since the Rent a Room Scheme was first launched, the UK’s Private Rental Sector has more than doubled in size, with the […]

GILTI Tax The Inland Revenue Service (IRS) Global intangible low-taxed income (GILTI) Tax is a complex subject. We are often asked to assist with expert tax accountancy advice in this area. When it comes to GILTI tax, the GILTI tax rate and using QBAI to reduce GILTI tax, speaking to specialist US and UK tax […]

Renounce US Citizenship UK Americans may wish to renounce US citizenship in the UK as they are forced to pay the IRS tax on their worldwide income. There are currently estimated to be more than nine million Americans living overseas. Giving up US citizenship means they no longer need to file 1040 tax returns to […]

As experienced tax accountants, we are regularly asked about the ‘UK and Hong Kong Tax Treaty‘. We will look to answer the below questions in this Article. “Are you a Hong Konger paying too much tax in the UK?” “Should I speak to a British accountant before moving to the UK?” “What are the basics […]