Pre-budget report 2008/2009 - Major tax changes for expatriates
Our worst non-UK domiciliaries tax nightmare is happening.
The 2008/2009 pre-budget report unveils a significant will to levy tax on resident but non uk-domiciled expatriates who have earnings arising abroad, untaxed in the UK under the combined non remittance and non domicile rules.
The concept of a premium lease is that a company leases rather than rents a property from the owner. Therefore the owner becomes a lessor instead of a landlord and the company becomes a lessee instead of a tenant, and the employee who lives in the property become the licencee.
Company Tax – A Few Tips
COMPANY LOAN
If the company lends, interest free, for example 10.000 GBP to a shareholder, with a commitment to repay it and the shareholder cannot repay it, it will then become taxable based on the value of the notional interest (ex 6.25%), and not the loan itself.
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