As the very public inheritance row involving Frances richest woman, L’Oréal heiress Liliane Bettencourt, and her daughter might suggest, the younger generation does not always react with deferential gratitude to the share of the family fortune they are allocated.
Individuals and businesses on the Isle of Man have until 7 Sept to comment on a range of elements of the island’s tax strategy, including whether its current 10% corporate tax rate should be widened.
HMRC has received more than 400,000 calls to its tax evasion hotline during the past five years, according to data obtained via a freedom of information request.
Following the recent Budget announcement that there is going to be an annual limit applied to payments to qualifying policies, which includes maximum investment plans (MIPs), a consultation is currently underway.
The European Securities and Markets Authority (ESMA) has today highlighted failings in adviser practice as it publishes two final sets of guidelines under the Markets in Financial Instruments Directive (MiFID), covering suitability of investment advice and compliance matters.
A UK taxpayer is to pay some £830,000 in back tax, fines and costs to the UK tax authorities after being found guilty of using an undisclosed HSBC account in Switzerland to hide his money, in HM Revenue & Customs’ first successful prosecution to be based on information obtained from HSBCs Geneva branch in 2010.
Manchester United, the indebted UK football team owned by the US Glazer family, may look to move the clubs registration to the Cayman Islands, according to press reports.
The Internal Revenue Service has announced that it will help American citizens based overseas to catch up on Reports of Foreign Bank and Financial Accounts, in an apparent softening of its stance on the timely filing of US federal income tax returns.
Gibraltars Financial Services Commission has announced the creation of a Funds Panel, after recent changes to its laws which are designed to bolster its appeal as a fund jurisdiction, particularly following the introduction of the Alternative Investment Fund Managers Directive.
A raft of new taxes affecting expatriate Britons, Canadians, Americans and others living in Italy is forcing many to seek help from advisers and tax specialists there, as they struggle to comply, advisers catering for expats in that market say.
The British Government has a major battle on its hands over plans to introduce VAT in the Turks and Caicos islands, according to a new association set up by business representatives from the British Overseas Territory.
Hundreds of British families have now come forward to claim an estimated £400m (495m, $632m) in overpaid IHT back from the Spanish government, according to a law firm fighting the expats case.
