- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

Specific tax framework for European long-term investment funds enacted

It should be noted that the DRD regime applies to dividends arising in full or in part from real estate income received by Belgian ELTIFs

Seven allowances to use before the tax year-end

Simple but effective, an ISA allows you to hold cash or investments in a tax-efficient way and the current annual allowance can protect £20,000 per individual.

HSBC's 2021 pre-tax profit jumps 115% amid economic recovery

Business across regions turned profitable last year, Europe's biggest lender says

Agnelli Family Pays €746M in Italy Tax Dispute

Exor SPA had applied participation exemption regulations in 2016, when it merged with its Dutch subsidiary Exor Holding N.V., which would have excluded nearly all capital gains from taxable income in calculating the exit tax, the report said.

Luxembourg: New One-Time Tax Reporting Obligation for Investment Vehicles

It is worth highlighting that these reporting obligations apply even if the investment vehicle never invested, directly or indirectly, in Luxembourg real estate.

Expect forward-looking UK corporate tax reform in coming months

The availability of tax relief for overseas R&D is often essential to businesses

HMRC tax refunds of around £2,500 owed to thousands of Brits - are you affected?

Often it feels like money only flows one way with HMRC, but if you spend money for work expenses then you could be due a hefty refund

KPMG to grow its South West team after business services giant posted £436m profit

KPMG has 22 UK offices including in Bristol and Plymouth and will recruit into regional team after it saw revenue grow 10% in 2021

How can charities maximise input VAT and tax?

The receipt of large distortive non-business income such as legacies, large donations and capital grants can disrupt the level of VAT recovery on an income-based method, and so the use of an alternative proxy can sometimes be advantageous in this scenario

UK tax authority seizes NFTs for first time in £1.4m fraud probe

The digital tokens, which emerged in 2014, can be thought of as certificates of ownership for virtual or physical assets.

Govt to review taxation of illiquid assets fund

This follows on from a call for input last January where the government began its review to identify options which will make the UK a more attractive location to set up, manage and administer funds, as well as support a wider range of more efficient inves

Tax disputes: follower notices and accelerated payments

The rules apply to income tax, National Insurance contributions (NICs), capital gains tax, corporation tax, apprenticeship levy, inheritance tax, stamp duty land tax and the annual tax on enveloped dwellings.

Foreign-owned companies responsible for third of suspected underpaid UK tax

The figures showed £11.5 billion from a total of £35.8bn suspected to be underpaid.

HMRC rethinks new VAT policy for early termination and compensation payments

Under the new policy, which applies from 1 April 2022, where supplies subject to VAT are made, other payments that are required to be made to the supplier under that contract, such as early termination fees, will usually also be subject to VAT.

Malta and IFCs bid for global tax delay to 2025 as Cuba gets FATF boost

Malta has already agreed to the OECD new tax requirement but it is now negotiating "carve-outs and concessions" with the European Union.

LTA tax take up 1000% in decade

Mazars said the reason behind the increase was more individuals being caught out by the tax.

UK VAT reverse charge for building and construction services

The reverse charge has a significant impact on how businesses within the sector account for VAT and manage their cash flows.

£50m of public cash ploughed into firm linked to tax haven by bank set up by Nicola Sturgeon

The Scottish National Investment Bank was launched in 2020 by First Minister Nicola Sturgeon.

Italian tax authorities provide new guidance on the tax treatment of Liechtenstein family foundations

The asset was intended to be sold and the proceeds so derived by the Stiftung were to be distributed to the heirs of the founders.

E-News from KPMG's EU Tax Centre

The Court also noted that based on settled case-law the provisions of the Charter are only relevant where Member States implement EU law