UK investment fraudster jailed for five years
Friends and acquaintances invested nearly £3m in the ‘appalling’ scam
Tax & Regulation
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Deutsche Bank investigated over Panama Papers
Fallout hits German bank more than two years after Mossack Fonseca scandal broke
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Most UK parents want to control wealth transfer to children
Quilter survey finds trusts may be having a renaissance, as family life becomes more complex
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Most UK advisers unsure on correct usage of nil rate band
Canada Life found 93% of advisers need guidance on how to use the transferable nil rate band
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Appleby’s ‘refusal’ to meet MEPs criticised
This is reportedly the second time law firm has refused to meet European special committee on financial crimes
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Remove 12-year offshore investigation limit, say UK Lords
New powers proposed in Draft Finance Bill 2018 would impact elderly and people on moderate income
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UK wealthy pay less IHT than average person, review finds
Government review recommends digitalisation and de-bureaucratisation of the inheritance tax (IHT) system
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UK House of Lords committee condemns gov’t ‘death tax’
It said that the Ministry of Justice ‘needs to explain its basis’ for recently proposed changes more clearly
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FCA takes legal action against pension firm
The regulator said Avacade conducted ‘regulated activities’ without permission and ‘misled’ clients
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HMRC logs 62% rise in disputed tax collected through mediation
Mediation provides speedy method of resolving disputes, benefiting both taxpayers and Treasury
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STM boss vindicated in Gibraltar police probe
Investigation into the cross border financial services provider is closed with no charges made
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‘Complex product’ regulations could limit HK distribution
Some distributors in Hong Kong may avoid ‘complex products’ because of the added risk of being non-compliant