FATCA – 1 July 2014 – will not be delayed

Sandy King
In the News

A top official of the US Internal Revenue Service has told a New York audience of lawyers and tax experts that the Foreign Account Tax Compliance Act will not be postponed again‚ a US law journal has reported. IRS deputy commissioner Michael Danilack’s comments, made on 28 January followed his address to the New York… continue reading »

U.S. global tax law unhurt by Republicans: Treasury official

Sandy King
In the News

(reposted from Reuters) BY PATRICK TEMPLE-WEST WASHINGTON Wed Jan 22, 2014 1:53pm EST (Reuters) – A senior U.S. Treasury Department official said on Wednesday that Republican Party opposition to a new law meant to fight offshore tax dodging by Americans will not impede the Obama administration’s efforts to implement it worldwide. The Foreign Account Tax Compliance… continue reading »

Are your UK pension fund assets greater than GBP1.25M?

Sandy King
QROPS

If so,  Call me now! Why? Currently any UK funds being transferred to a Qualifying Recognised Overseas Pension Scheme (QROPS) have a Lifetime Allowance (LTA) of £1.5M This means that amount can be transferred into a QROPS without a tax charge Any transfer value over that amount becomes subject to a tax charge of 25%… continue reading »