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

HMRC’s new withholding tax claims process receives mixed reception from tax experts

The guidance also raises questions about disclosures made before 2 November.

Budget: Modernising HMRC’s wealthy compliance

Budget announcements highlight HMRC’s new and increased focus on wealthy taxpayers, particularly those with complex or international affairs.

EU losing €8 billion to UK tax haven empire

Four British tax havens rank in the top 10 of the Corporate Tax Haven Index

Budget offers breathing space, but little relief from tax pressures

Instead, the Chancellor opted for a smaller number of targeted measures alongside support designed to ease pressure from higher energy and living costs.

One in three Britons say pension and tax rules discourage later-life working

The research also found that 44% of people aged 50 to 65 feel positively about continuing some form of paid work beyond traditional retirement age.

EY partner pay jumps to £870k despite consulting slump

EY reported six per cent revenue growth for EY-Parthenon, its global strategy consulting arm, three per cent for tax services and three per cent for assurance

Healey to shield low-income pensioners from income tax in the Budget

The government had already committed to not taxing people who only get an income from the state pension.

Pensions could take a hit ahead of Autumn Budget amid fears of further tax changes expected

The Institute for Fiscal Studies (IFS) has modelled potential restrictions to pension tax relief, estimating that capping relief at the basic rate could raise significant revenue, although it has also warned against such a reform.

HMRC nudge letters include specifics of wealthy taxpayers’ offshore affairs, tax advisory firm says

A top tax adviser praised the letters as ‘a welcome step towards transparency from HMRC’, but warned that anyone who receives one risks ‘much harsher penalties’ should they decide not to respond

Tax receipts climb as fiscal drag does the heavy lifting before the Budget

Yet despite these significant tax receipts, it is clear the government is still struggling to meet its fiscal needs.

Advisers call for 'taxation certainty' in Budget

Clients were also concerned about potential changes to taxation in the Budget.

State pension to surpass personal tax allowance threshold as inflation rises to 3.5%

It also strengthened expectations of higher interest rates from the Bank of England.

Chancellor should cut benefits instead of taxing banks, says International Monetary Fund

There are also concerns that a windfall tax could encourage international banks to shift their London and UK operations overseas.

Are you paying tax in the right country?

If you are moving to Portugal, have settled here, or spend significant time here each year, understanding your tax position should be a priority.

Five Detained Across Cyprus, Germany, and Italy in Massive VAT Evasion Case

The enforcement sweep took place following warrants initiated by the European Public Prosecutor’s Office in Munich, resulting in three arrests in Cyprus, one in Germany, and one in Italy.

Hungary proposes wealth tax for HNWIs and private structures

Hungary's recently elected government has published draft legislation for a wealth tax of between 1 and 1.5 per cent.

John Healey eyes bank tax rise to fund winter energy support

The Government will use the extra funds to help provide a planned package of support for poorer households and businesses with their energy costs over winter.

Chancellor set to resist calls to align CGT with income tax at Budget

In reality, investor behaviour plays a significant role in determining how much tax is ultimately collected.

Deloitte’s Cyprus Office Helped Abramovich Firms Relocate Billions in Assets in Apparent Bid to Sidestep Tax and Transparency

A trove of emails shows that Deloitte Cyprus helped firms beneficially owned by Roman Abramovich attempt to skirt tax and disclosure obligations by retroactively transferring assets to British Virgin Islands companies using backdated paperwork.

Wise negotiates HMRC settlement after tax errors affect 4,000 customers

FinTech platform Wise is negotiating a settlement with HM Revenue & Customs after errors in its software led to around 4,000 of its investment customers paying the wrong amount of tax.