Nigel Green slams call to prosecute those
DeVeres chief executive Nigel Green has slammed calls for professionals, including financial advisers, to be prosecuted for advising on tax avoidance schemes.
Tax & Regulation
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New Zealand wangles sharing exemptions in
New Zealand has signed a unique intergovernmental-agreement (IGA) with the US allowing it to keep low risk accounts exempt from disclosure after the introduction of FATCA next month.
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law society call for body to veto tax policy
The City of London Law Society has called for an independent body to be set up with the power to veto tax legislation as a way to avoid ‘huge damage’ to the UK tax regime’s reputation for stability.
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fca issues far-reaching client money changes
The UK’s Financial Conduct Authority has signalled a sharper regulatory focus on holding client money with the publication of its policy statement today, and the prospect of other jurisdictions following suit.
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HMRC trust proposals target IHT avoidance
HM Revenue & Customs has proposed a limit to the amount an individual can transfer into a series of trusts tax free, in its latest attempt to crack down on the use of multiple trusts to avoid inheritance tax (IHT).
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irs to make us offshore tax amnesty less harsh
The US tax authorities are set to make the amnesty programme aimed at encouraging US citizens to declare any offshore bank accounts less tough.
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One fifth accountants unaware of disclosure terms
One fifth of UK accountants and tax advisers have not told all their clients about the terms of the Liechtenstein Disclosure Facility, a survey has revealed.
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hmrc criticised for sending letter to swiss
HM Revenue & Customs has sent out another letter to UK holders of Swiss bank accounts warning that they must settle their liabilities, and giving them the option of using the Liechtenstein Disclosure Facility.
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APFA criticises FCA over its scrapping of fee
The Association of Professional Financial Advisers (APFA) has said it is disappointed in the FCAs decision to scrap a review of the methods it uses to calculate regulatory fees.
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BNP Paribas facing 10bn fine
BNP Paribas is facing a potential $10bn fine from the US Justice Department to resolve a criminal probe into allegations it evaded US sanctions against Iran, according to a report in the Wall Street Journal.
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Belgium reacts swiftly to MiFID II ruling
MiFID II, arguably one of the most far-reaching pieces of financial legislation to hit European shores in recent decades, is already beginning to have a direct impact in some corners of the Continent.
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Isle of man chief defends loss of S&P rating
Isle of Man Government chief minister Allan Bell has defended its decision to stop funding a Standard & Poor’s rating for the island following concerns raised by one of the international life companies.