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

Last nail in the coffin for trusts? by Gary Heynes

Last Friday’s consultation on changes to the way IHT trust charges are calculated is the latest in a series of assaults which are leading to the demise of trusts, but could we end up with a tax system that encourages wealth to be passed on to very y

French 'suspect Geneva bank in giant tax fraud'

Falciani, a former IT worker at the bank in Geneva, released data to the French government in 2009 on 130,000 wealthy clients at HSBC alleged to have evaded taxes.

QROPS Can Solve UK Tax Problem For Pensioners

But the easiest way to get around the problem for anyone with one or more personal pensions is just to switch the UK pensions into a Qualifying Recognised Overseas Pension Schemes

FATCA Causes First Russian Bank To Cut US Clients

FATCA, enacted by Congress in 2010 and taking effect on July 1, 2014, is intended to ensure that the US obtains information on accounts held at foreign financial institutions (FFIs) by US persons.

Wealthy Austrians Are Demanding Their Taxes Be Raised

Austria lacks an inheritance tax, and wealth brackets are not scaled

United Kingdom: Pension Fund Management Services - Should They Be VAT Exempt?

There has been some confusion as to whether pension funds are exempt from VAT and contrasting decisions from several tax case rulings.

Ed's secret triple tax whammy: Leaked Labour plans for multi-billion-pound package of 'property wealth taxes'

Secret Labour documents plan to ramp up rates on farmers and the South

Britain becomes haven for U.S. companies keen to cut tax bills

Nothing about the narrow cream-colored lobby at 160 Aldersgate Street in the City of London financial district gives a hint of its role at the center of the offshore oil industry.

Russia’s VTB Will Stop Services for U.S. Taxpayers to Curb Risks

The Group of Seven leading economies yesterday put off the threat of further sanctions

Cyprus: FATCA And The US-Cyprus Connection

The US Department of Treasury has announced that Cyprus and the US have reached agreement in substance as regards the Inter-Governmental Agreement for FATCA and Cyprus has consented to being included on Treasury's list of Model 1 jurisdictions.

Georgia, Moldova to accelerate work over agreement on double taxation avoidance

Georgian Finance Minister Nodar Khaduri held the bilateral meetings in the Hague as part of the annual meeting of member-states of the Holland-Belgium group of the International Monetary Fund and World Bank.

77,000 foreign banks agree to share account information with US in tax evasion crackdown

Participating countries include all the world's financial giants, as well as many places where Americans have traditionally hid assets, including Switzerland, the Cayman Islands and the Bahamas.

Switzerland Tells UK Of Bank Deposit Movements

This was required under an agreement between the UK and Switzerland, which sought a middle ground on respecting Switzerland's banking privacy laws.

BDO strengthens Tax Investigations team with two partner promotions

These promotions follow a successful year for the team including continued year on year growth and new work.

EU urged to speak with one voice on tax reform plans, says commissioner

The G20 group of countries is working with the Organisation for Economic Cooperation and Development to implement a plan to tackle on tax avoidance and evasion.

Bulgaria - Review of FATCA “agreement in substance”

Under U.S. guidance issued in early April 2014, foreign financial institutions (FFIs) located in a jurisdiction that has reached an “agreement in substance” with the United States, under the FATCA regime, will be treated as having an agreement

Will HMRC’s plans for direct access to bank accounts be a Trojan Horse for tax inspectors?

HMRC’s Direct Recovery of Debt proposals raise concerns that tax inspectors could have a new way to access private bank transaction histories without the appropriate safeguards.

Tax havens: UPA sat on its hands but will NDA go the whole hog?

The revelations have already led to the resignation of the head of Deutsche Post, which is currently the world’s largest logistics company

Increase Tax on Dutch Wealthy:OECD

Labour and consumption are heavily taxed, while wealth is taxed lower than in other Western European countries

Guernsey set to join OECD’s top club in fight against tax evasion

The OECD and the Council of Europe's Multilateral Convention on Mutual Administrative Assistance in Tax Matters will be effective in Guernsey from the start of August.