News & Insights

UK tax treatment of UK property held by non-UK residents

Following some significant legislative changes in recent years, all gains realised on UK land and property disposals by non‑UK residents are now within the scope of UK tax. This includes gains on residential and commercial property, even if held indirectly.

19 Aug 20

Fact Sheets

Living in Guernsey

Guernsey provides a high standard of living, with a good education system, stable government, good infrastructure and a convenient location close to the UK and Europe.

12 Aug 20

Fact Sheets

UK Capital Gains Tax (CGT) Review

The UK Chancellor has, on 13th July, requested that the Office of Tax Simplification (OTS) review UK CGT, including rates, reliefs available and those aspects of corporation tax that relate to chargeable gains.

22 Jul 20

Updates

LTS Tax Accountancy Cup

We are delighted to be the sponsors for the LTS Tax Accountancy Cup for the Mourant Relay Race as part of the Guernsey Marathon, taking place on Sunday 25 October.

10 Jul 20

Community

UK Statutory Residence Test

Following lengthy consultation the Statutory Residence Test (“SRT”) was introduced with effect from 6 April 2013.

09 Jul 20

Fact Sheets

HMRC’s Helping Hand - VAT and Income Tax Payment Deferrals

The UK government is supporting businesses during the coronavirus pandemic by deferring VAT and income tax payments.

31 Mar 20

Updates

UK Budget 2020

Today, the new Chancellor, Rishi Sunak, delivered an enthusiastic Budget speech on behalf of “a Government that get things done”. As expected, a key focus of the Budget was addressing the financial burdens imposed on businesses by the Corona virus.

11 Mar 20

Updates

Accountancy Services

As the largest independent taxation services company in Guernsey, LTS not only provides UK and Guernsey taxation services to companies, individuals and trustees, but also offers tailored accounting services.

05 Nov 19

Fact Sheets

LTS Tax Panthers Top Of The League

With 4 games played so far this season in the U16 South Regional League, the LTS Tax Panthers are sitting at the top of the league with 3 wins and 1 draw!

23 Oct 19

Community

Offshore corporate landlords and corporation tax - The April 2020 Changes

April 2020 will bring significant changes to offshore corporate landlords as the tax regime switches from income tax to corporation tax.

02 Oct 19

Fact Sheets

We're delighted to sponsor the U16 LTS Tax Panthers

We are delighted to partner up with Guernsey Netball to sponsor the U16 LTS Tax Panthers netball squad this season.

25 Sep 19

Community

Trust Tax Services

The UK tax treatment of offshore trust structures has undergone a number of changes over the last few years, resulting in a myriad of complex legislation, combined with a more punitive and extended penalty regime for offshore matters.

11 Sep 19

Fact Sheets

Domicile

The concept of domicile is one of the key factors in determining the extent of an individual’s exposure to UK inheritance tax. It is also key for non UK nationals who become resident in the UK (so-called “non-doms”) in respect of their liability to UK income tax and capital gains tax.

10 Jul 19

Fact Sheets

Corporate Tax Residence in Guernsey from 2019

The Guernsey Revenue Service has introduced a number of new income tax measures that will affect companies in Guernsey from the Year of Charge 2019. Amongst other things these measures include widening the definition of corporate residence

01 Jul 19

Fact Sheets

Substance in Guernsey from 2019

Guernsey Revenue Services has introduced a number of new tax measures that will impact companies in Guernsey from 1 January 2019.

01 Jul 19

Fact Sheets

Summer Client Drinks

LTS hosted a drinks event at The Farmhouse Hotel attended by over 100 clients with special guest Stuart Lancaster giving a motivational speech.

06 Jun 19

Updates