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

HMRC to 'hunt down' tax dodgers in crackdown with £855 million fund

Four per cent of the tax gap, equal to £1.8 billion, relates to tax avoidance, HMRC has found.

Warning as 140k pensioners to pay tax for first time

It is expected for 140,000 of these pensioners it will be the first time they have received a simple assessment

IHT receipts for April to June £83m higher than same period last year, data reveals

This increase continues the strong upward trajectory in IHT receipts over the last few years.

The U.K May Implement a New Tax That Could Cause the Ultra-Wealthy to Leave the Country

But recently installed Prime Minister Keir Starmer is thinking of doing away with the so-called non-dom system.

Inheritance tax receipts soar as frozen thresholds persist

Frozen tax thresholds, which show no sign of thawing under Labour, have failed to keep up with inflation

UK Inheritance tax receipts hit £2.1bn in record opening quarter

This is £83m higher than the same period in the previous tax year

Switzerland and Hungary sign protocol of amendment to double taxation agreement

This is intended to prevent a person who is resident in neither Switzerland nor Hungary from claiming the benefits provided for in the DTA.

Aviva's adviser platform partnership aims to make tax reporting easier

The joint agreement will mean excess reportable income reporting will soon be available to advisers through the platform.

New government plan to plug revenue gap via non-doms likely to fall short say experts

Overall tax take (a combination of Income Tax, CGT and National Insurance contributions) was flat at £12.3bn

Tax and financial planning priorities for the new Labour government

Labour pledged not to raise the primary revenue-generating taxes – namely income tax, VAT, national insurance, and corporation tax.

Spain Sees Record Growth in High-Earning Taxpayers – Most of them are Based in Madrid

The statistics encompass income from employment, investments, economic activities, and real estate returns.

PwC “Banking in Luxembourg” report highlights resilience and future AI developments

PwC “Banking in Luxembourg” report: Resilience amidst global challenges in Luxembourg’s banking sector

HMRC data reveals soaring higher rate taxpayer numbers amid frozen thresholds

This continued upward growth in higher and additional rate taxpayers comes as no real surprise given income tax thresholds are set to be frozen until 2028.

KPMG Study: Small Private Banks Fortunate With Interest Rates

For nearly twenty years, the audit and consulting firm has diligently compiled data from bank annual reports.

Germany: Charges against Cum-Ex banker dropped over health

Doctors said the 82-year-old was not healthy enough to complete what was shaping up to be a yearslong trial.

UK’s income and inheritance tax receipts surge amid frozen thresholds

Frozen thresholds and inheritance tax policy has failed to keep up with inflation and therefore these figures will continue to increase.

Quilter Cheviot launches service for Big Four accountancy firms

Quilter Cheviot’s investment management team have undertaken training with each of the Big Four to fully understand personal independence procedures

Super-rich may quit UK over Labour plans for inheritance taxes on trusts

Economists say overall tax levels are likely to approach an all-time high whoever wins the election, despite promises by both main parties not to increase major tax rates.

Financial Planner acquistions boost Chase de Vere

During the year Chase also opened a new Edinburgh office.

UK tax authority ‘particularly vigilant’ on transfer pricing, figures show

A total of 153 transfer pricing cases were settled during the year running to 31 March 2023.