News & Analysis as of September 18, 2024

Income Taxes

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Estate taxes, also known as inheritance or death taxes, are taxes on an individual's right to transfer property at death.

Spring Budget 2024 - Will We See Material Reform?

BCLP on 3/1/2024

Budgets are normally stories of two halves. The first half contains the headline-grabbing tax policy reforms that can be encapsulated in a snappy soundbite in the Budget speech, such as “Chancellor scraps the non-dom regime”....more

International Tax Treaty: The United Kingdom

Freeman Law on 11/20/2020

Quick Summary. In the United Kingdom, Her Majesty’s Revenue and Customs (HMRC) is responsible for administering and collecting taxes in the UK. For 2019, HMRC collected $841.19 billion in tax revenue. But it took over 300...more

Lifetime Gifting in the United Kingdom: Opportunities and Clarifications

McDermott Will & Emery on 7/29/2019

The Office of Tax Simplification (OTS) recently released a report on simplifying the design of UK inheritance tax (IHT). This article highlights areas where taxpayers might take advantage of existing opportunities to make...more

2016 Year-End Estate Planning Advisory

Katten Muchin Rosenman LLP on 11/22/2016

In 2016, we continued to experience a period of relative stability in our federal transfer tax system and have been able to plan without expecting imminent significant changes to the system. Under the American Taxpayer Relief...more

Trust And Estate: Changes To UK Resident Non Dom Income Tax Laws Leads To Need To Establish A Resident Non Dom Income Tax Trust...

Bond Schoeneck & King PLLC on 9/2/2015

The UK tax obligations of an individual depend in large part on the individual’s "domicile" under generally applicable English common law principles. The citizenship of an individual is irrelevant under the UK tax system. The...more

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