Penny studied Management with Spanish at the University of Hertfordshire, graduating with first-class honors.
Remittance basis/ split year treatment/ Overseas work day relief: Over the years Penny has dealt with many clients who need to declare foreign sources of income. Penny has advised clients on the best ways of declaring their foreign income for example being taxed on the remittance basis. She has also dealt with many clients who are declaring earnings where they leave or join the UK part way through the year- often referred to as split year treatment. The rules surrounding this are complex and often it is best to speak to a tax advisor to determine the best treatment.
Non-resident landlords: Penny has dealt with many non-resident landlords who have to complete a tax return each year to declare their rental income despite them not being in the UK. Clients are taxed according to where they are a national and resident and whether there is a double taxation agreement with the UK and care has to be taken when applying these rules as it can mean a big difference in the tax calculation. Often it is difficult for non-residents to understand the UK tax system- Penny has helped to ease this process for many.
Capital gains: Penny has also worked with many clients who have capital gains tax to pay on the disposal of their assets. She has mainly dealt with capital gains tax issues following the sale of shares in a company and following the sale of residential property. There are many types of reliefs that can be applied to capital gains to help reduce an individual’s tax liability, but care must be taken when deciding if an individual is eligible. Penny has experience in dealing with these tax issues and knows the importance of applying the rules correctly.
Hobbies & Interests
Penny really enjoys travelling the world and learning about new cultures. In her spare time she likes to spend time with her family, attend her dance school and she has recently taken a liking to gymnastics.