Former Arsenal football agent loses £1.2m tax battle
A former top football agent, who had players on his books from Arsenal, Chelsea FC and Blackburn Rovers, has lost his £1.2m (€1.35m, $1.58m) tax battle with HM Revenue & Customs.
Tax & Regulation
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‘Onerous compliance’ behind UK money laundering failings
UK anti money laundering efforts are struggling because heavy handed reporting rules are creating a glut in poor quality reports – a reform body has said.
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EU exit paper gives UK expats a ‘glimmer of hope’
Europe’s own Brexit preparations paper offers international insurance and pension policy holders a way to keep honouring contracts – a cross border lawyer has argued.
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FCA outlines passporting ‘backstop’ plans for no-deal Brexit
EU firms will be able to continue passporting into the UK if the Brexit transition period is canned, according to the Financial Conduct Authority (FCA) which spelled out its backup plan on 25 July.
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New broom kicks off STM governance drive
STM Group has taken the first steps to boost its compliance and governance in the wake of a critical report.
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No-deal Brexit could make 38 million pension payments illegal
The head of the Association of British Insurers has warned that 38 million individuals living in the EU could have their UK pension and life policy payments deemed “illegal” if no Brexit deal is reached.
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Under pressure UK taxman facing more High Court challenges
Taxpayers are fighting back against the more aggressive and dogmatic approach being taken by HM Revenue & Customs, according to law firm RPC.
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Naming and shaming tax avoiders doesn’t work
The threat of having their names made public does not stop people and companies from avoiding paying tax, a report commissioned by HM Revenue & Customs has found.
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Gina Miller takes action against FCA over Mifid II silence
The UK’s Financial Conduct Authority has been taken to task for a lack of transparency over its enforcement of Mifid II rules around costs and charges by Gina Miller, co-founder of wealth management firm SCM Direct.
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‘Suspicious wealth’ bought £4.2bn of London property
Criminals will have fewer places to hide their dirty money after the UK announced a world-first public register that will force foreign companies owning UK properties to reveal their ultimate owners.
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UK compensation scheme battles death bond fund
The UK’s Financial Services Compensation Scheme (FSCS), which helps consumers when authorised financial services firms fail, is battling to recover money paid out to investors in a fund that went into liquidation but has since resumed making distributions.
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Seven steps for better platform client outcomes
From banning exit charges to drawing on the platform industry to tackle orphan clients, the Financial Conduct Authority has outlined seven remedies to improve consumer outcomes.