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

UK's tax gap points to a system in need of simplification

There are clearly holes in our tax system the government have so far not found the means to plug.

Gift planning opportunities for US persons in the UK

In any event, even under current law, the unified exemption amount will automatically decrease to $5 million (plus an inflation adjustment) come January 1, 2026.

European Commission investigation into individual Belgian “excess profit” tax rulings

Fiscal State Aid – Tax Rulings – Belgium – Excess profit – Selectivity

HMRC confirms probe into 153 people suspected of aiding tax evasion

“HMRC is determined to clamp down hard on anyone who aids in tax crimes, not just the perpetrator themselves,” commented Adam Craggs, Head of Tax Disputes and Partner at RPC.

S. Korea’s tax chief seeks cooperation with Denmark, Hungary

Hungary is the first Eastern European country to form a trading partnership with Korea.

Understanding UK Tax For British Expats Abroad

The tax year is pegged between April 6 one year and April 5 the following year.

Tax consequences of volume ownership

The new concept of “volumes” refers to a geometric space of three dimensions, geographically located at a well-defined place.

Isle of Man labelled as tax haven

Island catches attention of European banks

EY reports global revenues of US$40b in 2021

EY also announced a three-year expansion plan and a combined investment spend of US$10b between FY22 and FY24

Film investment scheme reaches settlement with HMRC

Investors will now not need to pay £1.6bn in ‘dry tax’

HMRC to repay £45m in ‘follower notice’ penalties?

Taxpayers in receipt of one ‘should take action without delay’

‘Large tax bills’ to hit savers without LTA protection

So far, over 300,000 people have applied to HMRC to safeguard against changes

European banks storing €20bn a year in tax havens

Barclays and HSBC among banks booking money equivalent to 14% of annual profits in offshore entities

FOI request reveals HMRC owes millions after landmark 'round the world' case

The follower notice tells P that they may be liable to a penalty of up to 50% of the tax and/or NICs in dispute if they do not amend their return or settle their dispute."

Ireland on tax haven list, algorithm blunders and a stout for non-stout people

Business Today: the best news, analysis and comment from The Irish Times business desk

European banks active in tax havens despite scandals

Europe's leading banks each year book 20 billion euros ($24 billion), or 14 percent of their total profits, in 17 territories with particularly favourable tax regimes

19% rise in individuals charged with tax evasion

UK taxman is ‘finally shrugging off the disruption caused by lockdown and turning up the heat’

‘The problem can grow’ Britons urged to act on Inheritance Tax as families may face chaos

Inheritance tax is a levy many people will be keen to mitigate, with some describing it as a “death tax” or restrictive of income.

Greece: List of jurisdictions with preferential tax regimes for FY 2020 published

Under local tax rules, a country with a favorable tax regime is defined as a country that does not impose corporate income tax

Belgium: Tax on securities accounts: Compliance process for financial intermediaries clarified

As a reminder, the legislator introduced a new version of the tax on securities accounts in February 2021 following the annulment of the previous version by the Constitutional Court on 17 October 2019.