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

PwC appoints new partners across Midlands teams

Three offices have welcomed eight new staff to its partnership along with directors and a host of other promotions

UK charity tax relief receipts remain broadly steady but warning over future donations given cost of living crisis

This is an important indicator that charities are benefitting from UK donors and can continue to do good work in communities around the world as a result.

Tax default can lead to FCA scrutiny

A person’s details may not be included in the list if the penalty has been reduced fully to account for the individuals’ co-operation and disclosure.

Lack of crypto tax understanding a ‘concern’ for HMRC

The explosion of interest in this space could lead to many young people’s first real interactions with HMRC being an investigation into their affairs for unpaid tax in the future.

PwC partners to earn £1m each as firm sets new pay records

Earnings milestone for 950 executives comes despite repeated censure of big four auditors over standards

Banco Sabadell sells Nomo stake 18 months after investment

Nomo, an inhouse incubated startup of Banco Santander, received €2.5 million of investment from the bank in January 2021

European tax administrations meet in Switzerland

Switzerland held the presidency for 2020/21, represented by Marc Bugnon, Deputy Director of the Federal Tax Administration (FTA).

Denmark to cut electricity tax to curb energy prices

The agreement acknowledges that lower electricity tax will cost the state 475 million krone in revenue.

FCA launches tax investigation into Wise boss

The regulator may rule that Käärmann is not a fit and proper person to head an authorised financial institution.

HMRC criticised over £32bn ‘tax gap’ estimate

Tax experts say shortfall between expected income and actual receipts underplays true scale of fraud in 2020-21 financial year

Extension to deadline for new tax regime for inbound taxpayers and researchers likely

The proposed amendment would extend from 31 July 2022 (as specified in the program law) to 30 September 2022 the deadline to submit applications to participate in the regime.

Etsy paid just £128,000 in corporation tax in 2020 in the UK despite £160m in sales

US-based business would have been liable for almost £7m if it had booked all UK sales at Etsy UK, TaxWatch finds

UK/Luxembourg tax treaty signed

Tax treaty practice has changed significantly since then and several features of the current treaty now appear outdated.

What is behind HMRC’s unwillingness to estimate the offshore tax gap?

Taxpayers also often make use of various annual allowances or exemptions – such as non-domicile status – not to disclose income

Luxembourg Signs New Double Tax Treaty With the UK

As expected, the main change is in relation to the taxation of Luxembourg entities with real estate investments in the UK; the taxation of these is now aligned with other jurisdictions.

Brits have £570bn in offshore accounts

But not-for-profit claims HMRC has no idea how much is tax evasion

Grant Thornton strengthens its legal area with the incorporation of three new partners

Eduardo González will lead the litigation and real estate practices

Treasury makes a pretty penny as NI hike comes into play and more are caught in the IHT net

This tax year, you can pass on up to £175,000 of your property tax-free, which is effectively doubled to £350,000 when combined with the allowance of your spouse or civil partner.

Why HMRC measures to suspend R&D cash payments and manage error and fraud matter to claimants

After the economic shock of the pandemic, and going into what increasingly threatens to be a recession, cash funding for R&D is vital.

HMRC warns against misleading tax avoidance schemes with raft of examples

The nature of the schemes and arrangements may be different, and on first glance some products may appear as genuine investment opportunities.