HM Revenue & Customs has published a consultation paper proposing to level one aspect of the tax treatment between onshore and offshore bonds, although industry experts are split on the impact this is likely to have.
A leading tax expert is warning that, despite much recent publicity about offshore tax avoidance, in most cases assets held offshore by UK individuals are nearly always taxable.
Elton John is reportedly suing The Times newspaper over recently published articles which he says linked him to tax avoidance allegations.
The Isle of Mans Financial Supervision Commission (FSC) has revealed in its latest on-site visits that some financial advisers on the island wrongly labelled unregulated funds and leveraged products as low risk.
A controversial tax in the Cayman Islands appears to be off the table after a viable alternative was offered by the private sector.
The battle over Cayman Islands premier McKeeva Bushs plan to implement the territorys first-ever income tax continued to rage over the weekend, with Cayman business leaders proposing alternative schemes on Saturday.
The US Foreign Account Tax Compliance Act (Fatca) poses a genuine risk to the UK’s financial services, as the costs of implementing a compliant investment solution for US clients are simply too high, according to wealth manager London & Capital.
There have been calls for the Australian government to crack down on large corporations using tax haven jurisdictions, following a news item on ABC, one of the countrys largest television networks.
The UK Treasury has issued a consultation document to invite responses to its plans to reform two provisions of its anti-tax avoidance legislation, in response to notification by the European Commission last February that the provisions were incompatible with certain EU treaty freedoms.
A debate over a new plan to tax foreigners living in the Cayman Islands has intensified, with residents opposed to the scheme having had to reschedule a planned rally in the interests, a Cayman Islands news website said, of peace and safety.
The cat and mouse game between tax avoiders/evaders and the UK Treasury has strayed into the public eye on many occasions over the past few years. Most recently, we saw high profile celebrities lambasted because of their involvement in what have been deemed morally questionable tax avoidance schemes.
Research from Deloitte shows distributors will have to work harder to get their products out to consumers who are being turned off financial advice as, from 1 Jan next year, they have to pay for it.
