After UK Chancellor George Osborne’s Autumn Statement yesterday, our tax panellists and experts in the field have had an opportunity to put together some early considered insights into the key changes, and sometimes as importantly, what didn’t happen too.
Guernsey has introduced an opt-in regime for funds established in the jurisdiction but which need to be compliant with AIFMD regulations within the European Union.
The Cayman Islands and Costa Rica are the latest jurisdictions to have signed up to the US Governments automatic exchange of tax information initiative, the Foreign Account Tax Compliance Act.
Guernsey, Jersey, Luxembourg and South Africa are among more than 35 countries to have committed to the early adoption of the next set of OECD measures to tackle tax evasion.
The British Virgin Islands, Gibraltar, Montserrat, the Turks and Caicos Islands and Bermuda have signed tax information sharing agreements with the UK Government.
UK residents with assets of more than £325,000 are not the only ones who might be concerned that the UK’s inheritance tax threshold is failing to keep pace with inflation: expats, for example, ought to be studying the matter as well.
Leaders of the UK’s overseas territories have formally stated that they will continue to “play a full part” in tackling tax evasion and fraud, at a summit in London.
HM Revenue & Customs has today released new guidance on the transfer of pensions to schemes "included on the QROPS list", which addresses issues raised in the landmark ROSIIP case.
Guernsey’s Financial Services Commission has fined Generali Worldwide Insurance Company £150,000 for what it said were “failings in systems and controls” that occurred between 2008 and 2010.
Bermuda, the UK overseas territory known for its specialist expertise in insurance, has signed a “Model 2 UK FATCA” intergovernmental agreement with the UK.
A Manchester tribunal has ruled that a Cheshire couple who moved to Portugal more than 10 years ago are still classified as UK residents, leaving them liable for a £600,000 tax bill.
The Isle of Man was among only a handful of countries reviewed by the OECD deemed to be compliant with its principles of tax transparency.
