Experts weigh in on the Autumn Statement
Members of International Adviser’s Tax & Technical Panel give their views and insights on chancellor George Osborne’s joint Autumn Statement and Spending Review.
Author: Kirsten Hastings
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UBS appoints Koh head of wealth management Asia Pacific
Edmund Koh has been named head of UBS Wealth Management Asia Pacific replacing Kathryn Shih, who has been named president of UBS Asia Pacific. Both appointments are effective 1 January 2016.
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Barclays fined record £72m for failing to ‘minimise crime’
The Financial Conduct Authority (FCA) has fined Barclays Bank a record amount for failing to minimise the risk that it may be used to facilitate financial crime.
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Changes to capital gains tax for non-UK residents
Non-UK residents disposing of UK residential properties will no longer face potential double charges that occur in some circumstances, Osborne announced in his joint Autumn Statement and Spending Review on Wednesday.
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Osborne targets tax avoiders with 60% penalty
A new penalty of 60% on tax due will be levied against tax avoiders in all cases successfully tackled by the General Anti Abuse Rules (GAAR), Osborne announced in his joint Autumn Statement and Spending Review on Wednesday.
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Funding boost for HMRC’s digital transformation
HM Revenue & Customs (HMRC) is to receive more than a billion in additional funding to digitalise the UK’s tax system and introduce personalised digital accounts, removing the need for annual tax returns, chancellor George Osborne announced Wednesday.
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Ex-IFA’s landmark jail term for ‘giant Ponzi scheme’ upheld
The UK Court of Appeal has upheld a landmark sentence of 10 years’ imprisonment imposed on former independent financial adviser Phillip Boakes following his conviction on charges brought by the Financial Conduct Authority (FCA).
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BNP Paribas strengthens Asian private wealth business
Guenter Tschiderer, head of private wealth distribution North Asia for BNP Paribas Investment Partners (IP), is relocating from Hong Kong to Singapore to assume the newly-created role of head of private wealth distribution Southeast Asia.
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European Wealth acquires Xcap Nominees
Integrated wealth management firm European Wealth Group has acquired Xcap Nominees, bringing an additional £30m ($45.5m, €42.8m) in assets to European Wealth’s Manchester office.
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Henderson launches pan European dividend income fund
Henderson Global Investors has launched a Luxembourg-domiciled Pan European Dividend Income Fund, which will have UCITS status and be denominated in euros.
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Joseph Kwok to depart PIAS
Joseph Kwok will step down from his role as deputy general manager of Singapore-based Aviva subsidiary Professional Investment Advisory Service (PIAS), effective from 25 November.
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Sanlam and Santam buy stake in Morocco-based Saham
Sanlam and its short term insurance subsidiary Santam are set to enter new markets having reached an agreement to acquire a 30% stake in Morocco-based Saham Finances, which operates in 26 countries predominantly across Africa and with a presence in the Middle East.