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

IFAs rush to meet offshore account warning rules

IFAs must send letters to clients by the end of next week telling them that undeclared offshore accounts could land them in trouble with the taxman.

HMRC claims early success for app and SMS

The department has been pushing the use of digital channels to reduce the pressure on its contact staff, one element of which has been the development of the SMS reassurance service.

'Life-changing consequences:' HMRC warns on risks of hiding wealth offshore in new crackdown

Holding assets offshore is not illegal, as long as all taxable income and gains are declared on a UK tax return.

Ireland compliant with new tax rules: OECD

Ireland and Norway only two countries to get top rating on tax and financial transparency

London landlords 'avoiding £200m in tax' by not declaring income

HMRC said to be investigating reports that 13,000 renters did not declare rental revenue

Jersey property companies lose tax residence case

The exclusion from capital gains tax for these vehicles only applies where the vehicle is “centrally managed and controlled” outside the UK (this being the test for UK tax residence).

Corporation tax: The race Britain can never win

Britain will never win a race to the bottom.

How Does Inheritance Tax Work in Ireland?

Inheritance is tax-free up to a certain threshold

Is Italy the newest tax haven for non-doms?

Many long-term UK-resident non-UK domiciled individuals may be wondering where to move to next, now that the government has confirmed that the long-awaited changes to the taxation of non-doms will indeed apply from 6 April 2017. Non-doms who have been UK-

Clients flag concerns about tax-free cash

They do not trust the politicians or the sustainability of the pension system.

HMRC warns taxpayers over ‘disguised remuneration’ manoeuvre

Ruses to escape crackdown on trust-based tax scheme ‘don’t work’, authority says

Unexpected tax bills for property ‘flippers’? by George Bull

With short-term property speculation running at its highest level since 2007, we question whether ‘flippers’ are giving enough thought to their tax bills.

€16.8 million recovered from Panama Papers, Swiss Leaks

96 individuals or firms undergoing full tax investigation

HMRC’s Trusts Registration Service: Up and running

The question this prompted was, of course, what HMRC meant by the term “UK tax consequence”.

HMRC wields ‘dawn raid’ powers to stop tax cheats

HMRC has the power to search businesses suspected of tax evasion, and can often do so early in the morning or without warning.

QROPS Transfers Slow But Cash Values Hit New High

The number was down 4,000 from 13,700 the year before.

Rise in dawn raids to catch tax evaders

Numbers reflect HMRC’s renewed drive to stop cheating

Italy grants non-dom status for first time (to former UK non-dom)

In order to qualify for this regime, the applicant has to have been non-tax resident in Italy for at least nine out the 10 years preceding their arrival in the country.

Wealth tax may ‘drive out’ Ireland’s rich

While other wealth-tax models, like the version paid in the Swiss canton of St Gallen, could raise up to €1.23bn a year, it would affect 52% of Irish households, the group said in an analysis of the merits of introducing such a measure in the budget

Tax panel backs HMRC drive against salaries paid in gold

Ruling follows company’s offshore tax avoidance scheme