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

Updated Cyprus/Russia Double Tax Treaty

The amendments principally affect the minimum withholding tax rate on dividends and interest paid from Russia.

Weekly Tax Brief - 13 October 2020

Without further targeted measures we are in danger of retaining the country’s cultural architecture and trophy assets, but without the creative artists to put on the performances to fill them.

Ireland and Luxembourg: The Updated EU Annex I List

This update considers the impact on certain tax reporting and other tax measures in Ireland and Luxembourg.

UK urged to do more to open up tax havens to public scrutiny

"It's huge news," Nienke Palstra, of Global Witness, told AFP. "They had been dragging their feet, even though it's been a legal obligation since 2018."

Switzerland shared bank account data with 66 countries in 2020

This is part of an annual exercise since 2017 when Switzerland decided to implement a global agreement aimed at preventing tax evasion.

Taxpayers face losing up to £26bn on Covid-19 business loans

NAO warns of loss on bounce-back scheme because of fraud or inability to repay money

Orwellian or All's Well? The UK tax authority's new powers and family offices

HM Revenue & Customs’ powers to obtain information from financial institutions are set to increase, with the requirement for taxpayer or tribunal approval to be removed.

HMRC to contact workers in job scheme checks

The Job Support Scheme was announced by chancellor Rishi Sunak last month as part of the government’s Winter Economy Plan.

HMRC warns locked-down freshers of ‘wave’ of tax scams

New university intake may be being targeted by cyber criminals amid Covid-19 confusion

Russia, Malta signed a protocol to revise tax agreement

Russia plans to sign the next revised taxed agreement with Luxembourgm Russia’s Deputy Finance Minister Alexei Sazanov said

Brewin to review if MPS tax refundable as VAT scrapped

This came after HMRC confirmed it could self-assess whether VAT was due on its MPS.

Tax reliefs and allowances for working from home

Your tax position will depend on whether you are employed or self-employed and, if employed, whether you pay for these expenses personally or whether they are paid by your employer.

UK Offshore Receipts in respect of Intangible Property

As the Channel Islands are not “states” for these purposes, residents could potentially be within the scope of the rules.

Weekly Tax Brief - 29 September 2020

Property sales are on the rise

The Art of Giving: UK tax incentives for owners of art

Generally, these tax incentives apply to assets which are considered pre-eminent.

Investments in UK residential real estate market – UK tax considerations for foreign investors

There is no single approach and the solution differs considerably depending on personal circumstances and objectives.

Kazakhstan needs to reform its tax system to increase its resilience beyond the COVID-19 pandemic

This reform requires measures to strengthen the functioning of the tax administration, including the introduction of an end-of-the-year tax declaration.

HMRC recouped £274m from IHT investigations last year

UK taxman is ‘dedicating huge resources’ to examine the estates of HNW individuals

OECD/G20 Inclusive Framework on BEPS shows progress in implementing tax transparency through Action 13 Country-by-Country reporting

As a result, tax administrations, often for the first time, will have received detailed information on all large MNEs doing business in their country.

IRS targets tax compliance by non-U.S. owners of U.S. real estate

FIRPTA taxes foreign persons on the disposition of their U.S. real property interests.