hmrc scoops extra half a million
HMRC has brought in £500m in extra tax, since a special unit was set up to deal with the tax affairs of the countrys wealthiest people.
Tax & Regulation
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guernsey and jersey sign tax agreements
Guernsey has signed tax information exchange agreements (TIEAs) with Italy and Latvia to bring the total number of countries where it formerly transfers such bilateral information to 37.
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us expats seek to make fatca fbars
A Switzerland-based group of expatriate American organisations is seeking to put such issues as FATCA and Foreign Bank Account Reports on the political agenda, as the US heads into the final stretch of its presidential election campaign.
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wheatley to tackle remuneration led mis selling
Martin Wheatley, head of the UK FSAs Conduct Business Unit, has set out plans to tackle incentive schemes used by financial services firms, which he said are driving mis-selling and leading to consumers being sold more risky products.
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isle of man regulator warns bogus website
A bogus website with the address of http://abacusfinancialservicesltd.com is falsely representing a genuine Isle of Man-based advisory business called Abacus Financial Services Limited,according to the islands Financial Supervision Commission (FSC).
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liechtenstein to require ldf filers to deposit min
UK taxpayers hoping to take advantage of the Liechtenstein Disclosure Facility tax amnesty scheme will have to deposit at least a fifth of their assets in a Liechtenstein institution, or CHF3m ($3.13m, 2.5m, £1.98m), from 1 Sept onwards, International Adviser has learned.
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rdr clean share class need hits x border
New rules that would oblige investment funds domiciled outside of the UK to provide clean share classes to the British market if they wish to continue to market there after January 2014 are attracting growing concern from cross-border asset managers.
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Influential committee calls british fatca
A heavyweight committee of the UK parliament is calling for the introduction of a British version of a key aspect of the proposed US FATCA legislation.
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hmrc to visit up to 90 tax advisers
HM Revenue & Customs, in what is perhaps its latest attempt to clamp down on tax avoidance, has announced plans to visit around 80 or 90 tax agents whose client tax filing or tax payment it deems to have fallen outside the range it would normally expect to see.
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child spies for hmrc
HM Revenue & Customs has launched a new school module for teachers of teenage children in the UK, which some argue promotes the idea of children spying in their community for tax dodgers.
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jersey lawmakers to debate bank comp scheme
Jersey lawmakers next month will debate a package of four proposed amendments to the islands bank depositors compensation scheme, which Jerseys Economic Development Department said would bring the scheme into line with developing international standards.
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hmrc claims 200m tax avoidance victories
HM Revenue & Customs has claimed a £200m tax avoidance victory today, after revealing details of three significant court cases it won last month.