Tax avoidance ‘cost UK £12.8bn’ over five years
Tax avoidance cost the country at least £12.8bn (€13.9bn, $16.6bn) between 2010 and 2015, according to new figures and analysis by the House of Commons Library.
Author: Mark Battersby
-
-
MPs to vote through new UK non-dom rules ‘within days’
New rules for the taxation of non-domiciles are likely to come into force this month, back-dated to take effect from 6 April.
-
Australia ramps up strategy to hit aggressive int’l tax plans
Australia’s tax avoidance taskforce has set out a new strategy to target aggressive international trust planning, having already raised over A$279m (£182m, €197m) over the last four years through its fight against “tax avoidance or evasion by privately owned and wealthy groups”.
-
HMRC’s rules for IHT on downsizing property are ‘impenetrable’
New HMRC guidelines on how people can downsize their home but retain the value of their previous residence for inheritance tax reduction purposes have been branded ‘impenetrable’ by accountancy body the ICAEW.
-
Leading advisers predict new UAE rules will cull firms by 50%
New capital requirements for licensed UAE insurance brokers will amount to a “cull” that could see the number of regulated firms drop by more than half, the heads of two large advisory firms operating in the region have suggested.
-
Advisers warned to face reality of tough new tax evasion law
International IFA firms, lawyers, accountants and wealth managers need to be “astute to the challenges and effects” of the UK Criminal Finances Act, which comes into effect on 30 September, a leading Channel Islands law firm has warned.
-
Cazenove name is no more in Asia wealth manager rebrand
Cazenove Capital’s Asian wealth and private banking business is to be renamed Schroders Wealth Management.
-
Bupa Global data theft puts half million clients at fraud risk
A rogue Bupa Global employee is suspected of stealing the personal details of more than half a million international healthcare customers and attempting to sell the information.
-
HMRC wins bulk of tax avoidance challenges but loses IHT case
HM Revenue & Customs claims that of the 26 litigation decisions in 2016/17 where tax avoidance was involved, 22 of them (86%) went in its favour.
-
The key data on why financial advice adds value
Those who received financial advice in the 2001-2007 period had accumulated significantly more liquid financial assets and pension wealth than their unadvised equivalent peers by 2012-14, a report by the UK think tank International Longevity Centre supported by Royal London has found.
-
Ten jurisdictions fall under beneficial ownership scrutiny
Australia, Qatar and Canada are among six jurisdictions rated largely compliant but still needing to make improvements in the latest wave of peer reviews by the OECD focusing on availability of beneficial ownership information.
-
Bull market party ‘has to end’
The problem with the dying days of an equity bull market is that it is difficult to be sure when it will end and how high it will go in the meantime. This, for Jim Wood-Smith, chief investment officer for private clients at Hawksmoor Investment Management, is the key dilemma in today’s markets. As he…