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UK Budget Briefing

A summary of the numerous positives and new opportunities for our clients. LONG-TERM NON-DOMICILED INDIVIDUALS Chancellor George Osborne has delivered on his pre-election promise to review the tax regime for non-domiciled UK residents with effect from 6 April 2017, and indeed some seismic changes have been introduced. However, it is...

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Senior appointments at PraxisIFM follow merger

PraxisIFM has made three senior appointments as part of its plans for future growth. The merger of Guernsey-based Praxis Group and Jersey-based IFM Group to create one of the largest independent and owner-managed financial services groups headquartered in the Channel Islands was finalised last month following regulatory approval. The group...

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A First for International Fund Management Limited

International Fund Management Limited (IFM) understands that it is the first independent, Guernsey-licensed fund manager to act as an alternative investment fund manager for the initial public offering of a new London-listed fund. IFM, which is part of the Praxis Group, is acting as alternative investment fund manager (AIFM) for...

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Principal Private Residence Review – the Government’s Response

Under current rules, UK residents disposing of their UK home are able to claim Principal Private Residence Relief (PPR) which in the majority of cases will reduce the capital gain on the disposal of their UK home to nil. Individuals with more than one home can elect which home is...

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Increases in the Remittance Basis User Charge

Chancellor George Osborne also wants to ensure a fair contribution from individuals. As part of this objective he has targeted people who are resident but not domiciled in the UK and who choose to be taxed on the remittance basis. The Remittance Basis User (RBU) Charge was introduced in April...

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