Lenient FATCA has kick started
FATCA, the US’s controversial piece of US tax legislation, has marked the first step towards global transparency and has provided cooperating jurisdictions with plenty of leniency, a US-based tax expert has said.
Tax & Regulation
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Trail commission ban to slash
The UK regulators banning of trail commission in 2016 could result in over 15,000 advisers losing their job, a report by the former director general of the association of IFAs has predicted.
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Swiss sign first tax information pact with Aus
Australia has signed a reciprocal agreement with Switzerland for the automatic exchange of tax information on each other’s citizens, the Swiss finance ministry has said.
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jersey to evolve qrops legislation step by step
Jersey’s chief minister Ian Gorst has said that the island’s strategy towards building business in the QROPS market is not cautious, but rather a “step-by-step” approach.
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Coutts probed over client tax evasion allegations
Coutts & Co is under investigation by a German prosecutor regarding allegations of assisting client tax evasion.
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Nutmeg may consider expats for new pension
Investment manager Nutmeg has launched an online pension, and may look at opening it up to investors living in key expat jurisdictions.
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Exfinancial planning exec admits to insider trading
A former financial planning manager has pleaded guilty to “opportunistic” insider trading after netting £30,000 from the deals.
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Jersey chief minister disappointed at Miliband
Jersey’s chief minister Ian Gorst has formally expressed his “disappointment” with statements from Labour Party leader Ed Miliband about tax transparency and disclosure efforts by UK overseas territories.
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Eclipse ruling A victory against
Hacker Young’s Michael Avient takes a look at the implications of HMRC’s victory against Eclipse on tax avoidance court cases.
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HMRC likely to review QROPS
HM Revenue & Customs is likely to address doubts surrounding the IHT-exemption of fully-flexible QROPS with a wide review into how overseas pensions are taxed, say industry experts.
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FCA to probe investment banks
The FCA will conduct its first investigation of investment and corporate banking to determine whether competition in the sector is working effectively.
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Tax evasion inquiries by foreign govts soar by 45%
Britain’s tax office has seen a surge in foreign governments making information requests about tax evasion over recent years.