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

HMRC returns £30mn in overpaid stamp duty

Stamp duty land tax (SDLT) is charged when purchasing a property and/or second properties.

The UK holding company regime

Such features are compelling reasons to establish an international headquarters in the UK.

Triple lock and personal allowance face policy showdown as number of taxpaying pensioners soars 25%

Annual income tax statistics from HM Revenue & Customs have estimated that in this tax year there are 8.1million income tax payers above the state pension age, a 25% increase on the 6.47million pensioners who paid income tax in 2020/21.

Corporate income tax return filing deadline extended for 31 December 2022 year end

The reason for the extension is that the Danish Tax Agency has identified some technical issues with the TastSelv Selskabsskat (DIAS) system, which companies and foundations use when they submit information to the agency.

UK Patent Box

Companies can benefit from an effective 10% corporation tax rate on relevant taxable profits arising from patented technology, medicinal and botanic innovation rights.

Restructured loans did not circumvent withholding tax obligations

The original lender then used the proceeds of the assignment to the Guernsey entity to provide a new loan to Hargreaves.

Chancellor may resist calls for IHT reform as tax take on course to hit new highs

The 2022/23 IHT take reached a record-breaking £7.1 billion, and if the tax take continues to grow at its current pace, we can expect these figures to reach new highs again.

Pension tax upheaval boosts wealth managers

Rich clients rush to profit from giveaway but must consider wider picture

UK Qualifying Asset Holding Company (QAHC)

The ownership conditions must be monitored on an ongoing basis and HMRC notified if it ceases to satisfy any of the conditions.

Fair and simple taxation: better withholding tax procedures will boost cross-border investment and help fight tax abuse

This is often the case for cross-border investors.

HMRC plans new single tax on securities

Tax on electronic share transfers will continue to be collected through the UK’s Central Securities Depositary (CREST) system.

Netherlands takes forward ‘minimum tax’ proposals for multinationals

The proposed new Minimum Tax Act 2024 would implement an international agreement that the Netherlands is a party to.

Inheritance tax is in ‘dire need of reform’

STEP says it wants to see a low flat-rate estate tax regime with few reliefs and exemptions

Anti-tax bias exists within private wealth industry

The research said the industry uses homogenous “anti-tax” language in its communications and is "too quick" to default clients into products and services focused only on tax reduction and tax-led structuring.

Review SAYE arrangements following HMRC bonus rates guidance, say experts

An SAYE plan offers eligible employees the opportunity to acquire shares in their employer, or parent, company on a tax-advantaged basis.

2% tax on UK rich list families ‘could raise £22bn a year’

Campaigners for tax reform say similar levies in Europe have helped to reduce inequality

Time is right for modest wealth tax urge campaigners

The richest 250 families in the UK are sitting on combined wealth of £748bn

BDO’s Satvir Bungar named on the Empower 100 Executives Role Model list 2023

The Empower Role Model Lists supported by YouTube showcase leaders who are breaking down barriers at work for people of colour within global business.

Time may be running out to reduce your Corporation Tax liability whilst also boosting retirement savings

The company contributions, once made, will be held in a pension arrangement belonging to and controlled by you.

HMRC hits millions of taxpayers with higher late payment charges

In 2022, interest rates on late payments were at 3.25%.