HMRC operation overhaul questioned by experts
HM Revenue & Customs’ plans to modernise its operation, consolidating 170 offices into 13 regional centres has seen tax experts question its motives.
HM Revenue & Customs’ plans to modernise its operation, consolidating 170 offices into 13 regional centres has seen tax experts question its motives.
The European Commission has said it is considering a delay of up to a year to the initiation of the second iteration of the Markets in Financial Instruments Directive.
The Financial Conduct Authority is hoping its ‘regulatory sandbox’ – a proposed test environment for innovative new products and services – will help retain its position as Europe’s leading fintech centre.
Four executive directors of Guernsey financial services and former QROPS provider Confiance Limited have been fined, and in three cases also banned from performing key functions for five years.
Two financial advisers are responsible for losing as many as 100 top footballers more than £100m from investing in film and property ventures.
HM Revenue & Customs is still failing to report how much cash it has received from its efforts to address aggressive tax avoidance, a group of MPs has said.
HMRC should not pursue insolvency proceedings to demand that tax allegedly owed from years ago be paid in full until the underlying dispute has been resolved, warned law firm RPC.
South Africa’s asset managers need to learn from the UK’s Retail Distribution Review experience and work in partnership with financial advisers when implementing next year’s regulatory changes, according to Brooks Macdonald International’s business development director.
HM Revenue & Customs has set out the UK VAT changes that will go live from 1 January 2016 resulting from a European Union court case involving Skandia American Corporation and Sweden’s tax authority.
National legislators and regulators will all implement the MiFID II directive differently. Since this creates complications for international asset managers, the European Fund and Asset Management Association (Efama) wants an extension of the deadline for full implementation of MiFiD II, which is currently set at January 2017.
Liechtenstein and the EU Commission have signed an agreement on the automatic exchange of information (AEOI), which will ensure greater transparency and cooperation between tax authorities.
The idea of an industry body to represent asset managers based in the Middle East in dealing with regulators and government departments may be about to resurface.