UK gov’t to cut pension allowances for high income earners
The UK government will begin to reduce pension annual allowances for those on incomes of over £150,000 from April next year, the chancellor George Osborne announced in his Summer Budget.
Tax & Regulation
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ISA-like pensions on the cards in ‘radical’ Green Paper
Pensions could be taxed like ISAs as part of a fundamental reform of tax relief, chancellor George Osborne said in today’s UK Budget.
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UK Gov’t bans permanent non-dom status
The UK Government will abolish permanent non-dom status in a bid to raise £1.5bn in extra tax, chancellor George Osborne announced in today’s Summer Budget.
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Serial tax avoiders to be ‘named and shamed’, Osborne reveals
The UK’s chancellor of the exchequer has said serial users of tax avoidance schemes will be ‘named and shamed’ as he promised to introduce further measures to tackle evasion, avoidance and aggressive tax planning in his Summer Budget.
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HMRC taskforce targets wealthy Northern Ireland tax evaders
HM Revenue & Customs has set up a new taskforce to tackle tax evasion by wealthy individuals in Northern Ireland.
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Experts point non-doms to offshore bonds ahead of Budget
As chancellor allegedly George Osborne prepares to crack down on non-doms in Wednesday’s budget, experts have recommended offshore bonds as an alternative to those facing an increasing amount to protect their foreign earnings from UK tax.
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FCA releases final rules to improve banking standards
The Financial Conduct Authority (FCA) has published a final set of rules designed to improve individual accountability and raise standards across the City of London.
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OECD backs Guernsey in fight against tax haven status
The OECD has backed Guernsey in its fight against tax haven status, describing the crown dependency’s inclusion on the European Commission’s list of top 30 non-compliant tax jurisdictions as “very surprising”.
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Law firm calls for urgent review of SIPP provider liability
SIPP providers should be held fully accountable where an investor has not taken financial advice, a law firm has said in a letter to the chief of the Financial Conduct Authority (FCA).
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HMRC takes in record levels of inheritance tax
HM Revenue & Customs took in nearly £400m worth of inheritance tax payments in April, the biggest ever amount for a single month.
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APFA urges UK Gov’t to ease regulatory burden on advisers
The Association of Professional Financial Advisers (APFA) has urged the UK Government to overhaul financial regulation to reduce the burden placed on financial advisers.
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Hong Kong tribunal backs SFC verdict to fine fund house
Hong Kong’s Securities & Futures Appeals Tribunal (SFAT) has backed a decision to fine and reprimand asset manager, Pride Fund Management, for refusing to resolve a financial dispute with a client.