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

Italy introduces 5% VAT rate on art sales and imports: A strategic boost for the art market

Each transaction must therefore be carefully assessed to determine the applicable VAT regime

Number of savers paying tax on interest quadruples as frozen allowances bite

The rise comes as interest rates have soared and the Personal Savings Allowance has remained frozen for over nine years.

HMRC error leaves thousands blocked from getting mortgages

Without them, many self-employed workers are effectively frozen out of the housing market, unable to prove they can afford to buy.

Nearly 3m savers to be hit by tax bill this year as more fall into the net than previously forecast

It means the number of people paying tax on their savings income is set to quadruple in just four years.

Pension tax overpayments continue to be a scourge despite HMRC efforts

The idea behind HMRC’s new tax coding process is that it should reduce the administrative burden on savers, while also minimising the number of overpayments being made in the first place.

Wealth tax should be considered by Treasury, former Labour minister suggests

Anneliese Dodds argued it is ‘important’ for the Government to consider evidence set out by the Wealth Tax Commission.

Luxembourg Government proposes reform of carried interest tax regime

This bill, together with the laws implementing an inpatriate tax regime and clarifying the use of alphabet classes of shares, gives yet another tool to employers to attract and retain talent.

Tax incentives for Family offices - Amendment of article 71H of the Income Tax Code

The minimum required annual operating expenditure is reduced.

Spain, Guernsey Added to UK’s Minimum Tax Jurisdiction List

The UK had in April published rules specifying which countries have implemented a qualifying income inclusion rule and a domestic top-up tax under Pillar Two.

HMRC Announces Initiatives To Modernize Tax Administration

HMRC has said it will invest in the development of AI solutions, which will automate the provision of call summaries following taxpayers' calls with HMRC advisers and caseworkers.

HMRC tax take data show CGT changes have backfired as receipts fall sharply

With income tax thresholds frozen, workers are seeing more of their earnings swallowed by the tax system.

New HMRC Service Announced for Workers to Take Control of Their Tax Affairs

The digital first approach will see HMRC automating tax wherever possible and offering new digital self-serve options across a number of tax regimes.

IHT receipts hit £2.2bn in three months: industry reaction

HMRC attributed the rise to increased asset values, more wealth transfers following deaths and the government’s decision to freeze tax-free thresholds until 2029/30.

Tax increases could still be needed - but where do we go from here

With income tax and National Insurance contributions already increased through higher rates and frozen allowances, changes to capital gains tax (CGT) may need to be considered.

Billionaires Leave UK as Government Ends Tax Breaks for Wealthy Foreign Residents

Under the new rules, all long-term UK residents pay taxes on their worldwide income.

Climate groups call for UK wealth tax to make super-rich fund sustainable economy

Growing number of campaigners urge government to ensure green investment is not done ‘on backs of the poor’

Taxing the wealthy: HMRC does not know how many billionaires pay tax in the UK

PAC warns of lack of clarity over how much tax is paid or avoided by the very wealthy, as report highlights significant opportunities to collect more revenue.

UK Chancellor Rachel Reeves does not rule out new wealth tax

The UK chancellor said she was not going to comment on speculation around her next budget when a date for the statement had not even been set.

Inheritance Tax Knowledge Gap: Almost one in three don’t understand laws and tax regimes

Under current rules, inheritance tax is set at 40%

Taxing the rich would rob the UK of ambition

On the face of it, a wealth tax looks like a simple solution to redistributing wealth and helping fill the Treasury’s empty piggy bank.