house of lords committee recommends tax
A recommendation has been made to reconsider the way the UK attempts to tackle tax avoidance by the House of Lords Select Committee on Economic Affairs.
Tax & Regulation
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Company incorporations fall
Company incorporations in the major offshore markets fell 3.6% in the second half of 2012 compared with the first six months of last year, according to a survey by one of the world’s largest providers of offshore legal services the Appleby Group.
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fasb iasb to form joint transition resource group
The International Accounting Standards Board and the Financial Accounting Standards Board have said they are to create a "joint transition resource group" to focus on the final area that remains to be dealt with, as they near the end of an almost decade-long effort to achieve global agreement on the way companies report their finances.
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gfsc reports more than 100 enforcement cases
The Guernsey Financial Services Commission investigated more than 100 potential enforcement cases last year, taking some action but fining only one company.
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hmrc tops phone rage list
HM Revenue & Customs has topped a list of the most irritating UK companies to call.
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investors sole benefactors aifmd
Just over half of alternative investment fund managers (AIFMs) expect more funds to flow into alternative investment vehicles as a result of easier access following the alternative investment fund manager directive (AIFMD) which became law today.
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the uk and spain top tables for unwelcome
Governments in Europe and Asia are targeting wealthy property buyers with higher stamp duty fees in an attempt to help plug their fiscal deficits, according to new research by UHY International.
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hmrc data requests hit record high
The number of requests for data HMRC made to Crown Dependencies and Overseas Territories on possible tax evaders hit a record high last year as the Government cracked down heavily on offshore tax havens.
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hmrc protects 1bn of tax during first six months
The amount of tax ‘protected’ by HM Revenue & Customs in the first six months of this year surpassed £1bn, according to the Revenue.
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advisers missing ldf advice opportunity
Many financial advisers are unaware of the advice opportunities available once a client has made an overseas assets disclosure, such as through the LDF, according to research from Skandia International.
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hmrc beats 135m stamp duty avoidance scheme
HM Revenue & Customs has won a tribunal to have a scheme avoiding stamp duty land tax shut down.
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oecd g20 presentation wont affect individuals
This Friday’s presentation by the Organisation for Economic Co-operation and Development to the G20 is unlikely to have many repercussions on wealthy individuals, says a tax expert, although UK trade body CBI is already drafting up businesses' response to the anti-avoidance proposals.