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

Brooks Macdonald removes VAT from its managed portfolio service

The change will apply to Brooks Macdonald's custody MPS and those held on third party platforms (platform MPS).

UK DAC6 reporting obligations substantively removed post-Brexit

HMRC state that it is the intention of the UK Government to implement the OECD model Mandatory Disclosure Rules (MDR) into UK domestic law as soon as practicable.

Tax and fairness: the debate has changed

With the prospect that the Chancellor of the Exchequer would raise taxes in his 3 March 2021

Snaphot: Potential New UK CGT Rates - Implications for Private Equity Fund Structures

If the rates were brought up to even close to income tax rates this would mean an effective doubling of the CGT rate for higher rate taxpayers.

Andersen Global Adds Additional Member Firm in Portugal

It has been a pleasure working with like-minded individuals who are dedicated to serving clients at the highest level.

Taxing the Wealthy Is Always Popular

The Commission cited a survey conducted in May this year indicating that 63% of respondents supported a one-off wealth tax on households with assets over 2 million pounds ($2.7 million), excluding homes and pensions.

Russia's Mishustin Approves Protocol On Amendments To Double Tax Agreement With Malta

It added that Russia and Malta signed the protocol on amending the Double Tax Agreement in October 2020.

Luxembourg Update: Important Clarification for RAIFs for RR and RC Appointments

This update is a FAQ regarding persons involved in AML / CFT for RAIFs.

Calls to consider gifting into trusts amid CGT uncertainty

"A gift into trust is often undertaken when someone wants to make a gift for the benefit of family members whilst retaining control of the assets gifted during their lifetime."

Luxembourg Update: Filing Extensions for 2019 and 2020 Tax Returns

On 21 December 2020, the Luxembourg Finance Minister announced an extension to the filing deadlines for 2019 and 2020 Luxembourg tax returns.

UK tax evasion prosecutions fall by half in 5 years

Critics question HMRC’s strategy considering the billions lost to fraud each year

EY’s UK partners to take smaller hit than rivals

Chairman says investment in staff created resilience to Covid-19 disruption

Proposals for a UK wealth tax

The report suggests that a one-off wealth tax should include all assets worth more than £3,000, valued at their open market value.

Feeling threatened by HMRC’s reminders about self-assessment tax returns? Don’t be!

Amongst the many other repercussions of the pandemic, personal tax return preparation may not be as straightforward as in previous years.

Tilney becomes latest to scrap VAT from MPS

The question of whether VAT should be levied on MPS services surfaced earlier this year when the taxman ruled Tatton’s MPS was exempt from the tax.

French Withholding Tax on Capital Gains Realized on Substantial Shareholdings by Non-Frech Companies Ruled Illegal

The French Supreme Tax Court (Conseil d’État) ruled that the French withholding tax on the capital gain derived from the disposal of a substantial shareholding in a French company by a non-resident company is not compliant with EU law.

UK Wealth Tax Report

A ‘wealth tax’ is broadly a charge on a person’s assets, in contrast to the majority of taxes that are charged when cash or assets move between parties.

France to resume collection of digital tax

The French government feels it is legitimate to maintain a tax for digital businesses, which it believes are not suffering as a result of the pandemic.

Spain’s Juan Carlos Makes a Big Tax Payment Amid New Financial Probe

The anticorruption prosecutor’s office has confirmed the existence of a new case involving the king, but has not elaborated.

Does cross-border tax planning stand up to scrutiny?

Countries have shared details of offshore assets worth €10trn