HM Revenue & Customs ATED profits set to leap by 50%
HMRC’s receipts from the annual tax on enveloped dwellings (ATED) are set to rise by nearly 50% over the 2015/16 tax year.
HMRC’s receipts from the annual tax on enveloped dwellings (ATED) are set to rise by nearly 50% over the 2015/16 tax year.
Cayman Islands-based, Kijani Resources, which is owned by troubled offshore fund house Belvedere Management Group, has gone into liquidation after its parent business was taken over by the island’s monetary authority earlier this month.
Swiss bank Julius Baer has set aside $350m to settle tax evasion allegations with US tax authorities, significantly reducing the time accountholders have to voluntarily disclose their details at a reduced penalty.
The Financial Conduct Authority (FCA) has rejected calls for a freeze in its fee hikes and has confirmed a 10.2% increase in 2015/16 for financial advisers.
The number of complaints made against the conduct of intermediaries who are licensed by Hong Kong’s Securities and Futures Commission (SFC) has more than doubled in a year, the latest figures reveal.
A review of the impact of mutual fund compensation schemes on financial advice and outcomes conducted on behalf of Canadian regulators has found there was enough evidence to justify the development of new payment policies.
Guernsey, Hong Kong, and the British Virgin Islands have been named among the 30 most un-cooperative tax jurisdictions in a blacklist published by the European Commission.
The British Government has announced plans to strengthen the ability of savers to access their pension pots and tackle any unjustifiable exit fees thrown up by pension providers.
Macquarie Investment Management, the asset management arm of Australia’s Macquarie Bank, is to refund over A$5.5m (£2.68m, $4.2m) to around 2,300 clients for errors on its wrap platform.
The Hong Kong Securities and Futures Commission (SFC) has reprimanded and fined Phillip Securities (HK) Ltd $1 million for failings in selling a fund to four clients who lost their investment.
Britain’s Financial Conduct Authority (FCA) penalised firms a total of £1.47bn ($2.3bn) in 2014, though the number of fines fell pushing the severity of the penalties up sharply, according to the 2015 Global Enforcement Review published by Kinetic Partners.
Experts have said that a 50% leap in payments by HM Revenue & Customers to tax informants could be driven by ousted spouses and angry ex-colleagues