One in 25 expecting a million pound inheritance – survey
One person in 25 in the UK expects to inherit an estate over a million pounds, according to research from Canada Life.
Tax & Technical
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EU launches fresh Paradise Papers inquiry
The European Parliament is to investigate the Paradise Papers to look for “financial crimes, tax evasion and tax avoidance”.
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5 overlooked areas of tax planning
Seven Investment Management (7IM) highlights five often overlooked ways that investors can make the most of tax efficient saving and investing in general.
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UK buy-to-let investment slumps 80%
Buy-to-let investments in the UK have fallen 80% since 2015, according to research from the Investment Mortgage Lenders Association.
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Footballer Sanchez given jail term for tax evasion
Manchester United forward Alexis Sanchez has accepted a 16-month prison sentence for committing tax fraud worth €1m (£900,000, $1.23m) during his time with Barcelona.
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Withers teams up with NY lawyer on citizenship by investment
A New York lawyer and an international law firm are joining forces in a venture aimed at internationally mobile high net worth individuals looking to secure additional citizenship or residency rights through investment programmes.
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UK launches £89m power of attorney refund scheme
Nearly two million people who paid for an enduring or lasting power of attorney look set to benefit from a refund scheme launched by the Ministry of Justice and Office of the Public Guardian (OPG).
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Fresh guidance issued on stricter non dom rules
HM Revenue & Customs has released guidance on its updated non dom rules.
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Panama Papers fizzle out in Switzerland
The Swiss regulator has wrapped up its Panama Papers investigation with a slap on the wrist for one Russian bank.
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Comedian tax avoider wants loopholes axed
English comedian Jimmy Carr, who was at the centre of a tax avoidance scheme that nearly ended his career, wants to scrap tax loopholes and send them to Room 101, the torture chamber from the dystopian novel Nineteen Eighty-Four.
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IFAs should disclose 10% drop in performance
IFAs offering advised investment portfolios should consider matching DFMs by voluntarily disclosing any 10% falls in value to clients, says investment expert Graham Bentley.
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Savers snared in £300m business tax
A UK budget measure aimed at corporates will eat into people’s savings, a government letter has revealed.