Six steps to fend off ‘failure to prevent’ tax evasion charges
A law firm outlines how financial advice firms can protect themselves from the criminal offence of failing to prevent tax evasion.
Tax & Technical
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Worrying rise in criminal and civil penalties aimed at advisers
Giving “anything but ‘vanilla’ tax planning is becoming dangerous for advisers”, as they face a rise in civil and criminal penalties aimed preventing tax evasion, James Quarmby, private client partner at Stephenson Harwood has warned.
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US to resume prosecutions of deliberate offshore tax avoiders
US expats who have willfully failed to declare unpaid tax to the IRS have until September to come clean or once again risk prosecution as a key amnesty programme ends.
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UAE and Hong Kong among biggest UK money laundering threats
The UAE and Hong Kong have been included in a list of overseas jurisdictions which the UK’s National Crime Agency says have the most enduring money laundering impact on the UK.
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Requirement to correct rules not just for the super-rich
Middle income expats are in the firing line as the UK crackdown on offshore tax evasion and non-compliance continues to intensify, according to private client accountants Saffery Champness.
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Advance payments a ‘worrying erosion’ of taxpayer rights
Plans to give the UK tax man powers to demand advance payment if the revenue has “reason to believe” an offshore scheme is avoiding tax should be scrapped, according to a top tax lawyer.
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Paradise Papers law firm settles case against BBC and Guardian
Offshore law firm Appleby has dropped its legal claim against the journalists who published news stories based on documents taken from its Bermuda office.
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Calling all advisers who battle IHT complexity
Advisers battling the complexity of the UK’s inheritance tax are being asked to contact the government’s Office for Tax Simplification.
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UK to close Scottish money-laundering loophole
The UK looks set to crack down on a Scottish loophole said to be used to launder billions.
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Solution to ‘punitive’ US expat tax close
Individuals caught up in Trump’s ‘Apple Tax’ could soon have a solution, according to one Europe-based US expat adviser.
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British lawyer found guilty in $14m US tax saga
A British lawyer has been convicted of helping a wealthy family hide millions in Swiss bank accounts.
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Appleby slams ‘absurd’ BBC gangster claims
Paradise Papers law firm Appleby has denied claims made by the BBC that Ukrainian gangsters used its offshore schemes to hide their ownership of London property.