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

Past tax advice cannot justify offshore non-compliance

Reasonable excuse less likely to work as mitigation under failure to correct regime

HMRC wins capital gains tax battle

Private residence relief exempts a taxpayer from capital gains tax if they sell a property which has been their main residency for the time in which it was owned.

Could an increase in stamp duty for non-UK residents work in practice? by Andrew Hubbard

But is tax residence the most appropriate test?

55% of FTSE100 currently fail to publicly mention tax evasion

Failure to comply with the new law could result in unlimited financial penalties, ancillary orders such as confiscation orders or serious crime prevention orders, and serious reputational damage.

'Game over': Macquarie's German tax scandal

Even with such a return, there had been a detailed approval process of convincing the Macquarie Bank board and its chief executive Nicholas Moore that the deal was worth the risks.

UK introduces new penalties for overseas investors dodging tax

Any individuals who have paid the incorrect amount of tax on overseas income in previous years must have corrected their tax returns by the deadline, or the potential fine will double to 200% of tax owed.

2019 finance bill contains BEPS / EU ATAD 1 measures - Deloitte

Parliamentary discussions on the proposals are scheduled to begin on 15 October and be finalized by the end of 2018 so that they generally would be effective as from 1 January 2019.

Tax raised by lifetime allowance increased by 2,000%

Over the past decade the annual allowance has plummeted from £215,000 to just £40,000.

Commission finds no impermissible state aid in Luxembourg tax ruling case

The European Commission announced on 19 September 2018 that the non-taxation in Luxembourg of certain profits allocated to the US branch was in line with domestic tax law and the Luxembourg-US tax treaty.

The UK’s Requirement to Correct: game changer or damp squib?

With only days left for HNWs to get their tax affairs in order, barrister Tessa Lorimer asks if HMRC's new crackdown on offshore has teeth

Newton adopts Eagle’s accounting solution

Earlier this year Newton completed its migration onto Eagle ACCESSSM, Eagle’s secure private cloud to support its business growth and improve agility.

EU tax haven blacklist blocks just 1% of financial secrecy services threatening EU economies

On average, EU member states have put in place treaties that give their tax authorities power to retrieve some information in respect of 82 per cent of the financial secrecy services facing their countries, according to the Tax Justice Network’s res

Clock ticking on offshore income declarations in UK

HMRC has been issuing large numbers of warning letters both to taxpayers and their advisors

Gibraltar talks edging toward October deal

Spain mulling tax breaks for financial services crossing the border

Senior Tax Manager named in Top 35 under 35 ranking

She is an active member of STEP, and has achieved the STEP Diploma, CTA and ATT qualifications.

Three areas UK taxman is ramping up IHT probes

HMRC is treating inheritance tax as an increasingly lucrative source of income

Grant Thornton calls for independent public body to appoint auditors

With Grant Thornton no longer vying for contracts amid the 100 companies listed on the London Stock Exchange with the highest market capitalisation, the gang of four seem set to further increase that share.

Ireland’s Corporation Tax Roadmap

The Roadmap also confirms the expected timelines for the implementation of these changes.

HMRC tax yield from civil fraud investigations up 13%

The amount of extra tax collected by HM Revenue and Customs (HMRC) following investigations by its specialist fraud team increased by £300 million last year, primarily driven by an increase in civil investigations.

OECD and Norway agree new partnership to help developing countries address taxation challenges

Speaking at a Norwegian Agency for Development Co-operation (NORAD) Policy Forum, Mr. Saint-Amans said, "I am delighted we are stepping up our partnership with Norway."