IHT receipts leap as experts warn
Inheritance tax paid to the UK Government jumped by nearly 10% in the last year, as the amount levied from estates reached £3.4bn.
Inheritance tax paid to the UK Government jumped by nearly 10% in the last year, as the amount levied from estates reached £3.4bn.
The UK Governments continued aggressive stance towards tax avoidance and the blurring of its distinction between avoidance and evasion has raised concerns that more mainstream legitimate tax mitigation tools could come under increased scrutiny.
Contrary to common perception, many wealth management firms in the UK are embracing the controversial Foreign Account Tax Compliance Act (FATCA) legislation, which began its implementation on 1 July, with some carving out a niche specifically advising orphaned American clients.
Nigel Green has compared FATCA to communism and said American expatriates are furious at being discriminated against by the US government.
Tax relocation specialist Bradley Hackford has published its 2014 rankings of 10 countries where it is "interesting to establish a physical and tax residence".
Plans to disallow UK non-residents from benefiting from the personal allowance could mean those who work abroad for their companies are “significantly worse off”, according to top 20 accountancy firm Saffery Champness.
The number of funds notifying the Jersey Financial Services Commission (JFSC) of their intention to privately place into Europe under AIFMD rules has now surpassed 150.
International Adviser looks at four cases of celebrities being targeted for their investment into tax avoidance schemes.
Developments in financial crime technology could uncover a £250bn "storm" of money laundering fines for "countless" banks around the world, says new research.
FATCA was implemented worldwide at the beginning of this month, but the impact (and costs) are only now just beginning to filter through to the financial services community.
More than half a billion pounds is set to be wasted this year in inheritance tax as individuals fail to place their life protection policies “under trust”.
Proposals by HM Revenue & Customs to crack down on tax avoidance have now received Royal Assent.