The Isle of Man and Gibraltar are among a group of 22 jurisdictions that have signed up to an information-sharing initiative to combat tax evasion, while Australia is looking at creating a public register revealing the identities of the beneficial owners of shell companies.
The UK tax office plans to overhaul rules governing the part surrender and part assignment of life insurance policies to redress the unfair tax bills which some individuals face if they withdraw money from an investment bond in the wrong way.
The recent release of the UK’s Financial Advice and Market Review (FAMR) might not have had much impact elsewhere in Europe but perhaps it should have done, says Paul Stanfield, secretary general of the European Federation of Financial Advisers and Financial Intermediaries (FECIF)
The UK tax office has won a judgement against a limited partnership registered in Jersey, the Clavis Liberty Fund 1 LP scheme, which it claimed had tried to create artificial tax losses.
Jersey has signed a double tax agreement (DTA) with the United Arab Emirates in a bid strengthen trade links between the two countries, it has been revealed.
The British government’s plan to reveal the ultimate owners of offshore companies that have bought property in the UK is likely to be announced by the prime minister David Cameron next month.
The Australian Bankers Association (ABA), which represents all the country’s major banks, has unveiled a sweeping review of product sales commissions and product based payments with a view to removing or changing them where they lead to poor customer outcomes.
A British land bank scam which sold investors small plots of land at hugely inflated prices has been ordered to pay its victims £21m ($30.1m, €26.5m) after losing a Supreme Court appeal which challenged an earlier ruling, the Financial Conduct Authority (FCA) has revealed.
New rules proposed by the UK tax office for a planned secondary annuity market, expected to open in April 2017, will allow more people to participate than previously expected, experts said.
Fraudsters who conducted one of the largest boiler room fraud schemes ever pursued by a UK authority have been ordered to pay their victims £11m ($15.8m, €13.9m) in compensation, the UK’s Serious Fraud Office (SFO) has revealed.
The UK government’s planned new law making firms criminally liable for staff who facilitate tax evasion has expanded the circumstances in which an overseas company can be prosecuted for failing to prevent foreign tax evasion, according to legal experts.
The Financial Conduct Authority (FCA) has warned financial advisers in the UK to stop attending hospitality events such as rugby matches, often put on by investment firms looking to sell them products, as it may create conflicts of interest.
