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

US sales tax rules: a quick guide for European companies

The US does not have a federal sales tax. Each individual state has its own sales tax rules and regulations.

CGT and dividend changes will shift adviser behaviour

This means from this April, CGT will be applied to any profits that exceed £6,000 after selling an asset such as a second property or investments held outside an ISA.

EU to add Russia, 3 others to list of tax havens -draft document

The EU takes into account who is on its list of non-cooperative jurisdictions for tax purposes in its foreign policy decisions when considering development cooperation and other economic relations with third countries.

Cashflow management and VAT

Businesses who regularly receive repayments of VAT from HM Revenue & Customs (HMRC) should consider filing their VAT returns on a monthly rather than a quarterly basis.

UK tax treatment of REITs

Qualifying property companies can elect for REIT status.

IFS report outlines controversial pension tax proposals taking debate in new direction

There is also the not so small issue of defined benefit pension schemes where the deficit contribution treatment under flat rate relief just felt too hard a nut to crack.

End of tax year checklist: How to maximise your tax allowances before they expire

With just nine weeks until the end of the financial year, follow Bestinvest’s guide on utilising your allowances to manage your income tax liability

The UK's diverted profits tax regime

The rate differential between DPT and corporation tax means that affected companies will often seek to restructure their operations to pay more corporation tax, rather than paying DPT.

HMRC frauds circulating ahead of tax return deadline

Remember that criminals rely on you being panicked or flustered and they are skilled at extracting sensitive information.

Confusing pensions tax system results in £134m repaid to savers in 2022

Many people take the lump sum option because they may need the funds to cover a one-time expense or financial emergency

HMRC returns £45mn in overpaid pension tax

Under the pension freedom rules people aged 55 plus can freely access their cash.

Tax technology and data

The future of tax looks very different to the present. Equip your team with the digital capabilities they’ll need to thrive.

Key features of 2023 transfer pricing audit cycle

This alert summarizes the key aspects of the 2023 TP audit cycle and the upcoming changes in future years.

Chancellor Hunt mulls dividend tax hit to fill £50bn fiscal hole

Several measures being considered

IHT receipts hit £5.3bn as experts heed 'record-breaking year'

The rising tax, some experts have said, could pose a very real risk for homeowners whose property values have grown over the past year

HMRC forecasts nearly 1.5 million more people to be dragged into higher tax bands by 2027

The higher rate of tax is levied on anyone with an income between £50,271 to £150,000 at a rate of 40%, while the additional rate is taxed on an income over £150,000 at 45%. Usually, the bands increase with inflation.

Saffery Champness is recognised as a UK Top Employer 2023

The Top Employers Institute programme certifies organisations based on the results of their HR Best Practices Survey.

Capital gains tax takings reach record level

Data obtained through FOI by private equity firm Growthdeck and provided to Spear’s shows that in the year to October 2022 the government increased its annual total CGT receipts by 27.5 per cent, up to £15.3 billion.

HMRC service levels ‘unlikely to improve quickly’, say MPs

The Treasury committee has been pressing HMRC for answers on why the outages happened, and how it plans to avoid them in the future.

Tax analysis advised in Luxembourg after Budget law passed

The changes affect Luxembourg tax transparent entities operating in Luxembourg with foreign shareholders where those shareholders hold at least 50% of voting rights or capital in the Luxembourg entity or hold entitlements to at least 50% of its profits.