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

Inheritance tax untouched by UK chancellor

But budget sees £90,000 increase in tapered annual allowance

HMRC'S New Family Investment Companies Team: How Family Offices and Ultra-Wealthy Individuals can Protect Themselves

That will be a Potentially Exempt Transfer for IHT purposes and, provided the parents survive for more than seven years, the PET will fall out of their estates for IHT.

HMRC cracks down on hidden foreign income

Last year it was revealed that HMRC had raised more than £2.9bn since 2010 by tackling offshore tax non-compliance.

Adviser to pay out after triggering ‘unnecessary’ tax charge

The £27,000 which was transferred was left in cash as Mr S intended to draw it down in the short term under incoming pension freedom rules.

HMRC’s long awaited guidance on GMP equalisation – One step forward; two steps back

The guidance is likely to be of limited assistance to trustees and the absence of guidance on many key areas is likely to lead to further delays before most schemes feel comfortable to go ahead and equalise members’ benefits.

Deloitte London employee gets virus, everyone asked to chill

The unpleasant truth, though, may be that whatever precautions we take in working hours, people commute on public transport and live in relatively crowded cities.

Drama should not replace policy in Rishi Sunak’s first Budget

Drama is something which Osborne’s Budgets were never short of.

Increases in Tax Burden Predicted as UK Tax Man Targets Family Offices

The Family Investment Companies Unit conducts risk reviews of private companies used by family offices and high net worth individuals to manage their wealth.

World’s richest pay millions in ‘mansion tax’ to protect their privacy

Overseas individuals who own UK property through companies often do so for privacy reasons, according to the law firm Boodle Hatfield, which analysed the data.

Year end tax planning for UK property owners

If your gross rental income exceeds this amount, you can calculate whether it is more tax efficient for the excess to be charged to tax, or for you to pay tax on your rental profits after deduction of expenses in the usual way.

Ireland's tax rules 'used for aggressive tax planning'

It also says these payments may end up being taxed at "a very low rate or escaping tax altogether".

Should family offices be worried about HMRC’s new secret unit? by Chris Etherington

More than ever before, tax changes in the Budget will not simply be of national concern

Advisers bracing for big tax changes

Identify key tax targets vulnerable to budget changes

HMRC raids over 1,000 properties in fight against tax evasion

Dawn raids usually take place where HMRC suspects serious tax evasion

Pressure mounts on chancellor to stay clear of pension tax

Under current rules tax relief is paid on savers' pension contributions at the rate of income tax they pay.

Turkey Faces Tax Blacklist If No Changes to Policy, Austria Says

The tax haven debate adds to a number of issues in which the EU faces the choice between enforcing its own rules and jeopardizing an agreement under which Turkey helped stem the flow of migrants to Europe in exchange for financial assistance.

Spanish government approves digital services tax targeting large multinationals

The Spanish government has a majority consensus on the new tax, and it is, therefore, very likely to pass, though amendments may be incorporated before the approval of the final version.

Weekly Tax Brief

Welcome to RSM’s weekly round-up of the most important tax news.

How will Italy's Digital Services Tax impact tech giants' bottom line?

The aim is to tax businesses which traditionally paid low amounts of tax in foreign countries they operated in, those being: search engines, social networks and online marketplaces.

'Mansion tax' – rumour or reality?

According to the report, a so-called ‘mansion tax’ directed at residential real estate has been mooted more than once in Treasury discussions and in government more generally.