UK tax take hits record highs for January
The UK government’s tax take is on the rise according to new figures from HM Revenue & Customs for the all-important month of January, when most outstanding tax payments are due.
Tax & Regulation
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Spanish princess’s husband gets six years over €6m tax fraud
The brother-in-law of King Felipe VI of Spain has been sentenced to six years in prison and fined more than €500,000 (£426,565, $530,810) after being found guilty of charges including embezzlement, fraud and tax evasion.
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Easier rules for small DB pension transfers considered
The UK government is open to considering a relaxation of the current rules around defined benefit pension transfers where the saver’s entitlement is quite small, a new consultation paper released on Monday showed.
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British widow in France refunded over pension advice
A British widow has been refunded for poor advice she received from a UK adviser while living in France.
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Aus eyes beneficial ownership list in tax avoidance crackdown
The Australian government is consulting on setting up and maintaining a register that would reveal the identities of the companies’ beneficial owners.
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UK tax office warns on two tax avoidance schemes
HM Revenue & Customs has warned of a new disguised remuneration tax avoidance scheme that uses payment via annuities as a means to avoid income tax and national insurance contributions (NICs).
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Harlequin boss David Ames charged with fraud
The UK’s Serious Fraud Office (SFO) has charged David Ames, chairman of the failed Caribbean property group Harlequin, with three counts of fraud.
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Spain ‘hopeful’ of a deal on UK expat rights after Brexit
Spanish prime minister Mariano Rajoy says he believes a deal can be done with Britain to preserve the rights of British expats in Spain after Brexit.
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HMRC collects £140m in CGT crackdown
HM Revenue & Customs collected an additional £140m ($174m, €164m) from investigations into unpaid capital gains tax (CGT) by wealthy individuals and other taxpayers.
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New Earth’s fund manager expected to pay creditors in full
Isle of Man-based Premier Group, the fund manager behind the ill-fated £300m ($373m, €353m) New Earth Group of funds, will be able to pay its creditors in full, according to joint liquidator Craig Mitchell.
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Isle of Man to investigate collapse of Nicaraguan bamboo fund
The Isle of Man’s High Court of Justice has appointed an inspector to look into the collapse of the $61m (£48m, €57m) Eco Resources Fund, after it went bust last November.
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Panama Papers law firm bosses arrested and denied bail
The founders of Mossack Fonseca, the law firm at the centre of the Panama Papers scandal, have been arrested and are facing money laundering charges.