hmrc launches special tax cheat unit
HM Revenue & Customs has established a new specialist unit targeting those dodging UK taxes by using offshore accounts.
Tax & Regulation
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fsa warns of bogus sarasin firm
The Financial Services Authority has issued a warning against an unauthorised firm believed to be cloning Sarasin & Partners.
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study group recommends anti tax abuse rule
A government study group has, after an eleven month review, recommended that the UK government introduces a narrowly focused general anti tax abuse rule, but not a general anti-avoidance rule.
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hmrc adds meaningful connection clause
HM Revenue & Customs has added a requirement that individuals looking to use the Liechtenstein Disclosure Facility provide greater proof that they have a meaningful connection to a Liechtenstein than was previously necessary.
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us expats hold uncitizenship event in canada
What is said to have been the first citizenship renunciation meeting ever held in Canada took place at the US consulate in Toronto last month, as some 22 Americans sought to end once and for all the hassle of being a US expat, the Canadian Globe and Mail reported yesterday.
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american citizens abroad continues to pressure IRS
American Citizens Abroad, a Geneva-based organisation which represents expatriate Americans around the world, is continuing to push publicly for a relaxation of the US tax authorities recent, rigid and punitive treatment of US expats who have failed to report the existence of their overseas bank accounts.
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immunity offered under swiss uk tax deal worthless
An immunity from prosecution offered by the UK government and which underlines the Swiss-UK tax deal is not worth the paper it is written on, according to a leading tax investigation specialist and commercial law firm.
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dubai investor fined 9 6m by fsa
The UKs City watchdog, the Financial Services Authority, has fined a private Dubai-based investor $9.6m, the largest fine ever imposed on an individual.
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credit suisse provides client names to irs
Swiss bank Credit Suisse has confirmed it has informed some of its American clients with offshore private banking accounts that their names will be handed to the US tax authorities.
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coutts fined by fsa over aig product sales
Coutts & Co has been fined by the Financial Services Authority over products it sold linked to AIG.
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gibraltar adviser to be wound up
Gibraltars Financial Services Commission has obtained a winding-up order against RLS Insurance & Financial Consultants, a firm it previously licensed to provide insurance mediation.
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hong kongs regulatory head warns regulation
The head of Hong Kongs Securities and Futures Commission has warned that regulation should not be used as a competitive tool but should be directed at containing systemic risks and protecting investors.