FCA review of in house funds reveals
An FCA review of the use of in-house investment products by wealth management and private banking firms, while largely positive, has revealed some weaknesses in client communication.
Tax & Regulation
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Australias RDR reversal reversed
The Australian Senate has voted to disallow amendments which had loosened laws governing the financial advice process.
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UK FATCA rules what resident non doms
International law firm Withers summarises the new reporting requirements for UK resident non-domiciliaries under the so-called “mini-FATCA”.
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Unions unite against pension fund tax avoidance
National trade unions from around the globe have agreed to tackle “deeply damaging” aggressive tax avoidance in pension funds by revamping international tax rules.
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Your cut out and keep guide to the
A cut-out-and-keep guide to the Liechtenstein Disclosure Facility, outlining 10 of its most important aspects.
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Pension inheritors escape 55 death tax
Pension assets being passed on after death will not be subject to the 55% “death tax” from 6 April next year, following further pension amendments from the UK government.
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10 things you need to know about tax avoidance
HMRC outlines 10 issues to consider before making the big leap into the controversial world of tax avoidance.
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Divorcees top list of tax evasion tip offs
The number of informants being paid by HMRC to provide information about tax evasion has reached a record high, with former spouses coming top of the list for tip-offs, according to City law firm, RPC.
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FATCA leads 75 of US expats to
Nearly three quarters of American expats are considering the renouncement of their citizenship following Julys introduction of the absurd Foreign Account Tax Compliance Act (FATCA).
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Holborn IFA faces ban and 290k fine in UK
An IFA who is currently employed by Holborn Assets in the UAE is facing a ban and £290,344 fine in the UK, after the FCA found he “recklessly” recommended high-risk investment products to clients.
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UK tax gap widens to £34bn
The tax gap has increased to £34bn in the past year according to the latest figure from HM Revenue and Customs, but Baker Tilly’s George Bull has said that HMRC are nonetheless “winning the battle” against tax avoidance.
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Global benchmark malpractice trust providers
A minimum benchmark of professional standards for international trust and corporate service providers has been issued for the first time, by the Group of International Finance Centre Supervisors.