Should a European policyholder (assuming that they are also the life insured) become UK tax resident, the question arises of how foreign insurance bonds are taxed in the UK writes Mara Monte, associate in Withers’ Private Client and Tax team.
EFG International appoints a new chief executive, international law firm Withers appoints London head of immigration and Boal & Co appoints a senior actuarial consultant.
A new data sharing agreement has officially come into force with the HM Revenue and Customs (HMRC) expected to be handed the details of hundreds of thousands of offshore accounts on Friday as part of a move for wider transparency from the Isle of Man, Jersey, Guernsey and the Cayman Islands.
Lombard International has named a new chief executive for its US operations, while Axa IM has announced a senior departure. Nutmeg’s chief executive has stepped aside, with a Columbia Threadneedle veteran bowing out of the industry after a 32-year career.
As chancellor allegedly George Osborne prepares to crack down on non-doms in Wednesday’s budget, experts have recommended offshore bonds as an alternative to those facing an increasing amount to protect their foreign earnings from UK tax.
Last week, it was revealed that HM Revenue & Customs took in a record £379m worth of inheritance tax (IHT) in April, but with the Tories today confirming a more lenient approach to the tax in Wednesday’s Summer Budget, what is the future price of passing down wealth?
Swiss bank Julius Baer has set aside $350m to settle tax evasion allegations with US tax authorities, significantly reducing the time accountholders have to voluntarily disclose their details at a reduced penalty.
Chris Groves and Sophie Dworetzsky from international law firm Withers outline six of their expectations for July’s Budget.
International law firm Withers has launched a Japanese tax practice in Tokyo as it looks to continue its growth in Asia.
Withers has formed a partnership with a leading Singapore law firm as it looks to increase its revenue in Asia.
International law firm Withers summarises the new reporting requirements for UK resident non-domiciliaries under the so-called “mini-FATCA”.
Italy is to introduce a remarkable voluntary disclosure programme with the aim of urging taxpayers to declare foreign undisclosed assets and funds.
