UK taxman outlines tax avoidance enabler hitlist
HM Revenue & Customs has updated its guidance on who can be considered enablers of tax avoidance and the penalties they will face when caught.
HM Revenue & Customs has updated its guidance on who can be considered enablers of tax avoidance and the penalties they will face when caught.
The British Overseas Territories (BOTs) have slammed the UK Government for trying to force public registers of beneficial owners on the jurisdictions, describing it as an act of “constitutional overreach” and an “unacceptable act of modern colonialism”.
The Australian Financial Complaints Authority (Afca) will provide “free, fast and binding dispute resolution to consumers and small businesses” from 1 November 2018.
The tax secrecy practices of Britain’s Overseas Territories have been “shattered” by the UK Government, which in a dramatic turn of events, put its support behind an amendment that will introduce public ownership registers.
Advisers battling the complexity of the UK’s inheritance tax are being asked to contact the government’s Office for Tax Simplification.
While some confusion in the industry exists, Malta’s incoming pension regulations are common sense and there is no need to panic, industry sources have said.
Despite some strong opposition, the UK financial regulator has released major plans to force providers to pay 25% of advisers’ Financial Services Compensation Scheme (FSCS) bills.
Moody’s decision to not downgrade South Africa to junk status has saved the economy about £14bn in outflows from the local bond market, according to an expert from Morningstar.
Cross-party support is mounting in the UK for an anti-money laundering bill which could force the beneficial owners of companies based in the British overseas territories and Crown dependencies to be identified on a public register.
Sanlam UK has launched an inheritance tax service that enables clients to mitigate liabilities and generate long-term growth by investing in smaller companies on the Alternative Investment Market.
The EU has told the Isle of Man if it wants to stay off its tax haven blacklist, the island’s government needs to address the “lack of legal substance requirements” for all companies doing business on the island, according to chief minister Howard Quayle.
As incoming regulation puts paid to the era of expensive and opaque products, advisers are going head to head with the life companies to ensure they are future ready.