UAE minister sets prospective VAT for Gulf at no more than 5%
VAT no higher than 5% will come into force from 1 January 2018 in the UAE and other Gulf States covering most products and services.
Author: Mark Battersby
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Four key IHT planning tips for residential nil rate tax band
Some changes in inheritance tax law can affect wills and trusts, including the introduction of the first tranche of the Residential Nil Rate Band (RNRB) of £100,000 on 6 April 2017, says Karen Clark, tax partner in charge of the London private client team at RSM.
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UAE and Saudi Arabia life industry face consolidation says S&P
Regulatory pressures and fierce competition will lead to significant consolidation of the life industry in the UAE and Saudi Arabia over the next two years, according to a report by S&P Global Ratings.
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Fresh HMRC attack on tax evasion should ‘start with amnesty’
HM Revenue & Customs must issue one final amnesty for tax evaders to come clean about their financial affairs as part of a “concerted attack”, a leading tax firm expert has said.
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Why the new Qrops five-year circumstance change is critical
Many advisers woke up last Thursday morning aware their pipeline Qrops business had just been vastly reduced, says James Pearcy-Caldwell, co-founder of fee-based adviser Aisa International.
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Scotland could become jurisdiction for ‘new type of Qrops’
An independent Scotland could be the base for a “new type of Qrops”, a leading law firm’s pensions expert has predicted.
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DeVere’s Nigel Green to review Qrops unit in group restructure
DeVere Group chief executive Nigel Green has launched a strategic review of the company’s business which will factor in the surprise Spring Budget announcement of a 25% overseas pension transfer charge on Qrops plans in some markets and particular circumstances.
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IHT receipts predicted to leap by £1.8bn in five years
Rising house and equities prices will push up receipts from UK inheritance tax by £1.8bn ($2.2bn, €2.1bn) over the next five years, according to the Office of Budget Responsibility.
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IoM regulator open to dialogue on commission disclosure rules
The Isle of Man’s financial regulator has underlined the importance of fine-tuning the scope and timing of its commission disclosure rules for international life companies, amid industry concerns about an unlevel playing field with local companies in markets such as the UAE.
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Former Pru and AIA man Tucker lands top HSBC job
Former Prudential group chief executive Mark Tucker is to succeed Douglas Flint as the next chairman of HSBC after a long-running search to fill the role.
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Ten industry views on the Qrops hammer blow
As the week comes to an end in which the Spring Budget slapped a surprise 25% overseas pension transfer charge in particular circumstances, here are the views on what it means from a cross section of the industry.
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FCA sharpens scrutiny on pension transfer complaints
The Financial Conduct Authority has set out a plan to give better redress to those clients who were given unsuitable advice to transfer out of a defined benefit (DB) pension scheme.