hmrc wins offshore tax avoidance case
HM Revenue & Customs has won a court case against a tax avoidance scheme sold by Jersey-based Dominion Financial Services Group.
Tax & Regulation
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uk fatca consultation under way in jersey
Jersey Finance, the promotional body responsible for the island's finance industry, has been asked by the States of Jersey to consult its members on the possibility of entering into a so-called 'FATCA type' agreement, including a disclosure facility, with the UK government.
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bend it like beckham accused of french tax dodge
Football superstar David Beckham is reportedly being investigated by the French tax authorities over claims that his decision to have wages paid by his new club Paris St Germain directly to charity are simply an elaborate tax dodge.
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hmrc publishes names and addresses of uk
HM Revenue & Customs has published a list detailing the names and addresses of what it calls “deliberate tax defaulters”.
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isle of man disclosure facility not as generous
News that the Isle of Man is to have its own tax disclosure facility with HM Revenue & Customs has been met with a lukewarm reaction so far, with most tax experts suggesting the terms under the existing Liechtenstein Disclosure Facility are more favourable.
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iom mini fatca draws closer as plans for new
The Isle of Man has moved one step closer to signing a “mini FATCA” agreement with the UK, and has also announced that a new IoM tax disclosure facility with the UK will be launched in April.
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tax experts hit back at name and shame call
Tax experts have hit back at the Public Accounts Committee’s suggestion that tax avoiders should be “named and shamed”, arguing that such a policy could easily become disproportionate and counterproductive.
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tax avoiders and scheme promoters should be named
Tax dodgers and those who promote tax avoidance schemes should be named and shamed by HM Revenue & Customs, according to MP Margaret Hodge, who urged the Government to do more to stop the UK haemorrhaging money in lost taxes.
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brussels adamant it will impose tobin tax
Updated EU plans to levy a financial transactions tax have been agreed by 11 member states, including France and Germany, but rejected by the other 16 member states, including the UK.
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Switzerland signs tax deal with US
The Swiss government has signed a deal with the US that will reveal to Washington those American tax payers who hold accounts in Switzerland. The move, designed to unveil potential tax evaders, calls into question Switzerland’s tradition of banking secrecy.
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hmrc debt treatment rule change seen
Tax experts say that a recent change in the rules governing a special form of debt known as “debts under a deed” will bring such debts which in fact are a form of asset within the inheritance tax net.
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trust strategies to ease the nil rate iht freeze
The UK government decision to freeze the ‘nil-rate’ band of inheritance tax (IHT) over the next six years will lead to new strategies around the use of trusts, experts are predicting.