250bn money laundering storm due at decades end
Developments in financial crime technology could uncover a £250bn "storm" of money laundering fines for "countless" banks around the world, says new research.
Tax & Regulation
-
-
FATCA is stranger than fiction
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.
-
UK to waste 500m on inefficient IHT planning
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”.
-
HMRC tax avoidance proposals receive
Proposals by HM Revenue & Customs to crack down on tax avoidance have now received Royal Assent.
-
Plebgate minister named as investor
Former cabinet minister Andrew Mitchell, who resigned over the so-called “Plebgate affair”, has been identified as an investor into the controversial Ingenious film investment scheme.
-
HMRC claws back 135m from leaked list of HSBC
HM Revenue & Customs has recovered £135m from 24,000 clients named on a list of HSBCs Swiss private banking operation, which were revealed in a leak by a former employee.
-
HMRC publishes list of chargeable avoidance
HM Revenue & Customs has today published a list of tax avoidance schemes whose users may be required to make upfront payment of tax.
-
HMRC m tax avoidance fines
An international law firm has accused HM Revenue & Customs of a “sudden and unprecedented escalation” after it revealed full details about the powers which will allow it to impose £1m fines on tax advisers.
-
fca recommends unbundling research
The Financial Conduct Authority has recommended sweeping structural changes to the type of research investment managers can pay for with dealing commissions.
-
Tax avoiding celebs should
A senior accountant has said celebrities should consider their long term reputations when hiding their assets from HM Revenue & Customs, as a variety of popular figures are criticised for using controversial tax avoidance scheme Liberty.
-
HMRC up front taxing to trigger wave
Controversial proposals to allow HM Revenue & Customs to retrospectively charge contentious tax up front could trigger a “wave of insolvencies” and indirectly affect shareholders, warns a leading accountancy firm.
-
Exterminating ants with a nuclear bomb
A leading US tax lawyer has compared FATCA to “exterminating ants with a nuclear bomb” as the controversial act’s withholding stage is today launched across the globe.