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

HMRC’s Christmas Nudge: Pandora Papers

With the festive season fast approaching, HMRC has released the latest round of nudge letters urging taxpayers to review their tax affairs in light of the Pandora Papers data leak.

UK’s largest listed companies contribute £90 billion in taxes

The 100 Group represents the views of the finance directors of FTSE 100, and several large UK private companies.

KPMG may merge its UK and Swiss accounting arms to boost growth

Partners in both countries were told of the potential merger on Friday, according to one person familiar with the matter.

PwC agrees strategic partnership with Engine by Starling

Software-as-a-service subsidiary of Starling Bank teams up with PwC

How Christmas gifts to your family can help to beat inheritance tax – if you stick within the rules

The only time, in the main, that a donor will be subject to tax upon a gift during their lifetime would be if they made a gift to a discretionary trust, over the donor’s available inheritance tax nil rate band.

UK VAT: ‘refer a friend’ schemes may attract VAT liability, tribunal rules

Although Bulb went into administration after this appeal was commenced, the administrators have decided to proceed with the appeal thus far.

Here’s why Switzerland may not go for a minimum corporate tax rate

The tax rate was expected to be around 15% at the time.

Switzerland and Angola sign double taxation agreement

The DTA allows the Swiss network of double taxation agreements to be expanded into Southern Africa.

KPMG comments on today’s Bank of England money and credit data

Karim Haji, Head of Financial Services at KPMG UK, comments on today’s Money and Credit Data

Autumn Statement: Other tax measures

A summary of some other announcements of interest in the Autumn Statement

Autumn Statement confirms gov reprieve on taxation of pre-age of 75 inherited pensions

Fortunately, the government has confirmed that such pensions will remain tax free from April 2024 - a continuation of their current treatment.

Autumn Statement 2023: life sciences businesses to benefit from R&D tax changes

An enhanced 27% tax credit will be available to small or medium enterprises (SMEs) that spend 30% of total expenditure on qualifying R&D.

HMRC scraps plans to tax pensions after death

Under current rules, if you die before 75 your beneficiaries can inherit your defined contribution pension tax-free if it is under your lifetime allowance.

Shakira tax fraud case highlights perils of cross-border tax requirements for ‘nomadic’ UHNWs

Shakira settled a €14.5 million bill in Spain that hinged on where the singer lived during the disputed period. It's a case that highlights common pitfalls faced by jet-set UHNWs, say experts

Public sector finance data fans flames of speculation of tax cuts tomorrow

Tomorrow's Autumn Statement is poised to be a pivotal moment, with the government facing mounting pressure to ease the tax burden.

Tax receipts climb ever higher as Chancellor weighs up cuts at Autumn Statement

This huge growth illustrates why the Chancellor is weighing up tax cuts for tomorrow’s Autumn Statement to boost popularity with the electorate ahead of an election year.

IHT receipts reach £4.6bn ahead of Autumn Statement announcement

As people eagerly wait to hear what is in store for the tax

UK banks caught up in Europe's biggest-ever tax fraud of £10billion

The so-called Cum-Ex case involves alleged dividend tax frauds that are estimated to have cost German taxpayers alone nearly £10billion.

Increasing the inheritance tax threshold will pull 12,500 families out of IHT annually

Quilter’s calculations show this reform would cost the Treasury on average £1.4 billion per year and prevent around 12,500 families paying inheritance tax each year.

Autumn Statement 2023

Inheritance tax, stamp duty, the triple lock... What could be in the Chancellor’s speech?