HMRC non-dom crackdown set to increase under new government
HM Revenue & Customs’ increasing scrutiny of internationally-mobile high net worth individuals is likely to continue under the new Conservative government, say law firm RPC.
Tax & Regulation
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Global reach, local touch – Platform view with Ardan International
The arrival of more international platforms will only benefit advisers and wealth managers if they are flexible enough to operate in the local jurisdictions relevant to the client.
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UK election result puts IHT and pension tax in spotlight
The surprise majority victory by the Conservative Party in the UK general election could mean changes to inheritance tax rules and tax relief on pensions are more likely, though initially for most financial advisers the outcome simply means business as usual.
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Non-doms move toward mortgages for UK property funding
Non-UK resident individuals are increasingly seeking mortgage finance to fund their UK residential property purchases due to the introduction of the Annual Tax on Enveloped Dwellings (‘ATED’) and the advanced rate of stamp duty land tax for property purchased via certain ‘non-natural persons’, says law firm Edwin Coe.
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Clearer regulation key to future Dubai success
A sea change in regulation within the UAE is paving the way to growth for financial services businesses operating in the region, as both advisers and clients become more aware of the opportunities available.
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Australia and New Zealand QROPS risk HMRC delisting
Overseas pensions in Australia and New Zealand could lose QROPS status after a letter sent by HM Revenue & Customs forced all schemes to ensure that policyholders can only access benefits before the age of 55 in the same circumstances as a UK pension.
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HMRC to issue new tax avoidance scheme list
HM Revenue & Customs will publish a new list of reference numbers for tax avoidance schemes which may be subject to accelerated payment notices.
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Concerns grow over post-UK election expat tax crackdown
The outcome of the UK General Election on 7 May is still not completely clear, but financial advisers are warning that some party policies might impact negatively on their clients, particularly those with ‘non-domicile’ status.
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ESMA consults on MiFID II
The European Securities and Markets Authority (ESMA) has begun consulting the financial industry on its proposal that adviser standards should be set by individual national authorities under MiFID II.
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IA issues core guidelines on investment manager conduct
The Investment Association has issued a list of core principles that should be followed by money managers to maintain client confidence.
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HMRC ramps up investigations into quick rich earners
The tax affairs of individuals with rapidly rising wealth are to come under more intense scrutiny by HM Revenue & Customs.
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Swiss compliance service launched for asset managers
A service to help Swiss asset management firms comply with new rules introduced by the Swiss Financial Market Supervisory Authority has been launched.