advisers increasingly face negligence claims
Advisers are facing the threat of legal action from out-of-pocket clients who have been caught by HM Revenue & Custom’s crackdown on tax avoidance schemes.
Tax & Regulation
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significant changes to whole concept
Big changes to the current inheritance tax regime are afoot, according to tax specialists Baker Tilly, with non-UK domiciled individuals in one of three ‘at risk’ categories.
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us congressman unveils bill to stop corp tax abuse
A US congressman has introduced a bill aimed at deterring the use by American corporations of offshore tax havens, as the effects of an earlier US crackdown targeting individuals FATCA reverberate around the world.
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deadline for french mini fatca for trusts
The deadline for trustees to make their first-ever annual disclosure to the French tax authorities on foreign trusts in France is approaching, trust experts are warning.
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crocodile dundee star fights for missing
Paul Hogan, an Australian actor made famous by the “Crocodile” Dundee film franchise, has accused his former tax adviser of running off with around $34m of his money.
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deadweight tide of regulation
A long-held suspicion of financial services firms was confirmed by a senior Bank of England official last night as he revealed a 600% increase in UK regulation since 1979, comparing the tide of red tape to the country’s unwieldy tax system.
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switzerland closes agreement with us over fatca
Switzerland has adopted a simplified version of the US government’s FATCA tax legislation which was agreed by the two countries earlier this year.
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luxembourg plans fatca-style tax info
Luxembourg has set out its plans to automatically exchange tax information within the European Union, by easing its bank secrecy rules from 2015.
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tax evaders should use ldf before time runs
Those seeking to illegally evade tax are running out of places to hide, according to tax experts who are urging those with illegitimate assets overseas to come clean under one of the disclosure facilities on offer from HM Revenue & Customs.
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tax cheats warned as hmrc launches new disclosure
Those evading tax by hiding money in the Isle of Man, Jersey or Guernsey are being warned by HM Revenue & Customs to “come clean” before it clamps down on them.
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reaction to eu fatca its not just yanks anymore
As recently as last year, Americans were seen as the pariahs of the international financial services world, with many non-US banks unwilling to have them as clients because new US legislation, known as FATCA, meant that they came with onerous tax information reporting obligations.
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uk unveils fatca type info exchange
The UK Government today announced that it is to develop and pilot a new “multilateral tax information exchange agreement” with four of its largest EU fellow members.