The Monetary Authority of Singapore has delayed the 55% cap on commission financial advisers receive from the sale of life insurance policies a year after the industry asked for more time to implement the changes.
Some non-EU fund managers are forgoing European investors because of the compliance headaches associated with the Alternative Investment Fund Managers Directive (AIFMD), reports Cerulli Associates.
Members of International Adviser’s Tax & Technical Panel give their views and insights on chancellor George Osborne’s joint Autumn Statement and Spending Review.
Non-UK residents disposing of UK residential properties will no longer face potential double charges that occur in some circumstances, Osborne announced in his joint Autumn Statement and Spending Review on Wednesday.
Chancellor George Osborne showed a steely determination to tackle some of the cosier aspects of the lives of the wealthy in this year’s Autumn Statement. Tax evasion, capital gains tax and second homes came under scrutiny in an otherwise relatively benign budget.
A new penalty of 60% on tax due will be levied against tax avoiders in all cases successfully tackled by the General Anti Abuse Rules (GAAR), Osborne announced in his joint Autumn Statement and Spending Review on Wednesday.
Inheritance tax will not be charged when pension scheme funds are earmarked for drawdown but do not draw all of the funds before death, the Autumn Statement said.
Any potential changes to pensions tax relief will not be announced until next March, chancellor George Osborne said in his Autumn Statement.
HM Revenue & Customs (HMRC) is to receive more than a billion in additional funding to digitalise the UK’s tax system and introduce personalised digital accounts, removing the need for annual tax returns, chancellor George Osborne announced Wednesday.
Europe’s MiFID II legislation looks set to be delayed in full by a year after parliamentarians agreed not to block requests from policymakers and regulators to postpone it.
The UK Court of Appeal has upheld a landmark sentence of 10 years’ imprisonment imposed on former independent financial adviser Phillip Boakes following his conviction on charges brought by the Financial Conduct Authority (FCA).
The Dubai Financial Services Authority (DFSA) has issued a consultation paper on the insurance sector in a bid to clarify and update the regulatory regime.
