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

HMRC tax evasion cases reach record high

HMRC said it takes any reports of tax evasion extremely seriously and always thoroughly analyses and investigates any information it receives.

Yanis Varoufakis: Ireland a tax haven ‘free-riding’ on Europe

Former Greek finance minister says Ireland remains deeply divided since crash

Cristiano Ronaldo tax evasion: settlement reportedly close

El Confidencial says the Real Madrid forward is near to agreeing a deal with the Spanish inland revenue that would ensure he avoids jail time.

Offshore offence: HMRC’s tax evasion hunt has begun

For those with extensive offshore arrangements, it is particularly important to review these to make sure that they remain compliant.

Andersen Global expands into Luxembourg

B.A. Tax Accountants provides services in all tax areas, including tax planning, tax structuring, mergers and acquisitions, liquidations, and restructuring.

Public sector pension funds put millions in tax haven-linked PFIs

Report traces nearly 30% of investments in Scottish schemes to offshore firms

How tax compliance in Luxembourg is changing

With global accountability the ‘new normal’, it’s more important than ever to understand your tax compliance obligations in Luxembourg.

$12 trillion ‘phantom’ corporate investment – it’s not just about tax avoidance by George Bull

Using the latest transparency data, a report from the International Monetary Fund estimates that multinational corporations have invested $12 trillion in empty shell companies. On top of that, around $7 trillion of personal wealth is held in tax havens. W

HMRC tax evasion investigations up by 20%

In 2015, HMRC was looking at 2,972 cases, which increased to 3,216 in2016-17 and 3,809 in 2017-18 – an 18% year-on-year increase.

Most workers are in favour of higher income taxes - but just for those with big salaries

When asked which assets should be taxed and how often the tax should be due, a majority of the survey respondents favoured taxing land.

Switzerland set to amend anti-money laundering law

The Swiss Federal Council has now initiated the consultation process for amendments to the country's anti-money laundering law.

$12 trillion of ‘phantom investment’ disappears into corporate shells

Around $2.5 trillion of FDI flows around the world each year, and the OECD estimates there is a total outstanding stock of around $31 trillion of such investment.

Scrapping inheritance tax won’t make divorce easier

Proposals consider being able to gift up to £125,000 per person as a lifetime gift without payment of tax.

EU puts US on the clock for tax blacklist

If the US does not comply with the OECD Common Reporting Standard by June next year it faces being placed on the EU blacklist for non-cooperative jurisdictions, an EU top official has warned.

Beware: executors are liable for inheritance tax

When that person dies, you, as executor, will be expected to deal with their estate, making sure that their will – if they had one – is respected.

Offshore tax measures behind UK evasion spike

HM Revenue and Customs identified a 20% jump in serious tax evasion cases in the past 12 months, according to data obtained by law firm Pinsent Masons.

Retail millionaire to bankroll hunt for wealthy tax avoiders

For business, reputation is everything. And Britain doesn’t like tax avoiders.

KPMG said to review its audits of Middle East PE firm Abraaj

The accounting firm’s U.K. branch is looking into its examination of Abraaj and its related companies for any potential irregularities in the valuation of assets by KPMG’s Middle East division, the people said, asking not to be identified beca

HMRC unveils pension freedoms tax simplification move

The approach to taxation of pension freedom withdrawals is loaded in favour of HMRC.

‘Monstrous’ offshore bond tax regime ripe for review

The way in which the gains on such policies interact with the tax system is complex, and the OTS believes that this area of savings taxation warrants further review.