uk taxpayers set to gift an extra 100m
UK taxpayers are set to waste as much as £4.7bn this year by not taking advantage of available tax mitigation tools, according to new research.
Tax & Regulation
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battle lines being drawn over australian rdr
Special interest and consumer groups in Australia have begun to speak out over a government plan to make significant changes to the country’s recently-enacted package of investor protection laws, which were among the first globally to include a ban on the use of commissions as payment for providing financial advice.
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trusts rival wills for certainty and protection
Improved certainty and protection are among five key advantages advisers see for using a trust over a will, according to research from Skandia International.
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record number of yanks said im out
More than three times as many Americans gave up their US citizenship last year as in 2012, the latest US Treasury Department data shows, setting a new record, and prompting questions about what is driving the trend.
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oecd unveils auto exchange of info
The Organisation for Economic Cooperation and Development today published a document setting out its current Standard for Automatic Exchange of Financial Account Information, ahead of a meeting of G20 finance ministers in Sydney next week.
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australia govt to seek to water down
Financial planners in Australia will “once again be able to earn commissions for selling a wide range of investment products” if a government plan to “water down investor protection laws” goes through, one of the country’s leading financial publications reported over the weekend.
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wary canada signs fatca agreement
Canada has become the latest country to agree to implement the US Foreign Account Tax Compliance Act‚ in spite of what some of its politicians have said has been its southern neighbour’s occasionally heavy-handed efforts in recent years to extract unpaid taxes and penalties from Canadians.
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fsa targets death bonds
The FSA has set its sights on banning the sale of traded life policy investments (TLPIs) to UK retail investors‚ calling them 'high risk and toxic' products.
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republican party unveils abolish fatca
Following up on the Republican National Committee's approval last month of a resolution calling for the repeal of FATCA‚ an independent overseas Republican organisation has posted an online petition‚ to give opponents of the act a chance to tell Congress how they feel about it.
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qrops industry in split over pre-age-55
A debate is under way in the QROPS industry about whether pension fund trustees are right to permit QROP scheme members to begin taking pension benefits before the age of 55‚ if the scheme members have lived outside the UK for more than five complete tax years.
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FCA fines State Street in mark-ups case
State Street UK has been fined £22.9m by the FCA having been found to have deliberately charged clients substantial mark-ups on transactions on top off agreed fees and commission.
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guernsey signs dtas with seychelles and mauritius
Guernsey has signed two further Double Taxation Agreements‚ with the Seychelles and Mauritius‚ bringing the total number of DTAs it has to 10.