A long-running effort to bring US accounting rules into line with global standards that were created in 2005 may be at risk, after having slowed down recently over key areas of disagreement, a report by a party to the convergence effort has said.
The Manx Insurance Association is ‘confident’ that its members are in a position to offer RDR compliant products and services for business written from 2013.
A UK-based financial adviser has been jailed for five years for helping a client commit a VAT fraud, the proceeds of which he then used to gamble in London casinos.
The Jersey government yesterday signed a double tax agreement (DTA) with Singapore at the Asian country’s High Commission in London.
Two bills aimed at protecting investors were introduced into the Singapore Parliament today, as the first part of a two-phase review of Singapore’s existing Securities and Futures and Financial Advisers acts.
The tax-take from investigations into high income foreign workers has increased by 23% over the past two years, according to figures obtained by international law firm Pinsent Masons, indicating a heightened focus by HM Revenue & Customs on the financial affairs of those working in the City.
Professional Investment Advisory Services has been reprimanded by the Monetary Authority of Singapore for failing to ensure that “two of its representatives held the requisite licence under the Financial Advisers Act to carry out the financial advisory activities of advising others”.
The governments of Guernsey, Jersey and the Isle of Man have announced plans to negotiate partnership agreements with the US to implement FATCA.
Celebrities and some of Britain’s most senior businessmen invested more than £110m into marine treasure hunts, which allowed them to avoid tax on millions of pounds, according to The Times newspaper.
Protesters gatecrashed a college at the UK’s famous Oxford University where HMRC’s former head of tax Dave Hartnett was giving a speech, according to this week’s Oxford Times.
Three members of boy band Take That and BBC Watchdog presenter Anne Robinson have been named by The Times newspaper as four of about 2,000 people believed to have used a highly aggressive tax avoidance scheme based in the Channel Islands.
Switzerland will not hold a referendum in November on deals with the UK, Germany and Austria which will see those countries tax secret bank accounts held in Switzerland, after opponents of the agreement failed to gather enough signatures to force a vote.
