Govt threatens crackdown on investor tax breaks
HM Treasury has threatened to clampdown on a tax-relief system encouraging the wealthy to invest in start-up firms over fears investors are abusing the system.
HM Treasury has threatened to clampdown on a tax-relief system encouraging the wealthy to invest in start-up firms over fears investors are abusing the system.
The UK’s Serious Fraud Office will not be folded into Britain’s version of the FBI after plans by prime minister Theresa May were abandoned.
The chair of the UK Treasury select committee has called on the chancellor to provide clarity on expat pensions in the event of a “cliff edge Brexit”.
A tenth of the world’s total wealth is held in offshore tax havens, with the figure rising to about 15% for Europe and as much as 60% for some Gulf and Latin American countries, new research shows.
Plans to scrap a tax exemption on overseas earnings have been watered down by the South African Treasury and a tax-free allowance of ZAR1m (£57,143, $76,003, €63,904) introduced instead following pressure from expats and interest groups.
The UK should look to Jersey for inspiration on how to deal with the European Union after Brexit, the head of a British political think tank has suggested.
Anti-avoidance measures targeting the tax treatment of payments and benefits from offshore trusts will make the use of such vehicles less appealing, says FPI’s Brendan Harper.
Fraudsters are posing as anti-scam officers to trick people who have already fallen victim to fraud into handing over their personal and banking details.
Regulators in Guernsey have called on the island’s investment and insurance intermediaries to sharpen up following a thematic review that found room for improvement in the advice process.
A former employee of RSA Insurance Group has been jailed, while his accomplice received a suspended sentence, after they pleaded guilty to a number of fraud offences.
The UK Government’s latest finance bill includes new penalties targeting advisers who ‘enable’ the use of tax avoidance schemes.
Financial advisers should tell clients thinking of taking money out of their pension fund over the next few months to wait until next year to make full use of the increase in the Lifetime Allowance (LTA), industry experts are saying.