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

Foreign-owned companies responsible for third of suspected underpaid UK tax

The figures showed £11.5 billion from a total of £35.8bn suspected to be underpaid.

HMRC rethinks new VAT policy for early termination and compensation payments

Under the new policy, which applies from 1 April 2022, where supplies subject to VAT are made, other payments that are required to be made to the supplier under that contract, such as early termination fees, will usually also be subject to VAT.

Malta and IFCs bid for global tax delay to 2025 as Cuba gets FATF boost

Malta has already agreed to the OECD new tax requirement but it is now negotiating "carve-outs and concessions" with the European Union.

LTA tax take up 1000% in decade

Mazars said the reason behind the increase was more individuals being caught out by the tax.

UK VAT reverse charge for building and construction services

The reverse charge has a significant impact on how businesses within the sector account for VAT and manage their cash flows.

£50m of public cash ploughed into firm linked to tax haven by bank set up by Nicola Sturgeon

The Scottish National Investment Bank was launched in 2020 by First Minister Nicola Sturgeon.

Italian tax authorities provide new guidance on the tax treatment of Liechtenstein family foundations

The asset was intended to be sold and the proceeds so derived by the Stiftung were to be distributed to the heirs of the founders.

E-News from KPMG's EU Tax Centre

The Court also noted that based on settled case-law the provisions of the Charter are only relevant where Member States implement EU law

The global minimum tax rate: Are we nearly there yet?

On 20 December 2021, the OECD published keenly awaited model rules designed to implement Pillar Two of its ambitious plans to reform international taxation.

Urgent warning to UK petrol or diesel car drivers as new tax rules could see motorists pay over £2k

Some drivers could pay thousand of pounds in 2022

Employee Benefits, Trusts and Tax: Employers Beware

While the underlying law is relatively clear and well-established, there are still a few lesser-known legal risks to which employers are exposed

UK consults on proposed global minimum tax for multinationals

The government’s consultation seeks views on the proposed tax - which will be operated on a country-by-country basis - and its application in the UK, including who the rules apply to, transitional rules and how firms within scope should report and p

France: 2022 finance law enacted

According to French accounting rules, an enterprise’s goodwill (fonds commercial) is deemed to be a non-depreciable asset unless the enterprise can justify a foreseeable period of use.

France: ATAD 2: Final administrative guidelines published

This article summarizes the key points raised by the guidelines

Double tax whammy risk for big pension withdrawals

As 61% of retirees accessed their pots without financial advice

EU publishes minimum corporate tax rate directive

Countries signing up to the OECD deal are not obliged to introduce the pillar two rules, but if they do so, they must follow the approach taken in the OECD model rules.

Britons warned about tax 'sinkhole' that could leave you paying thousands more

THOUSANDS of people are falling into a little-known tax ‘sinkhole' that could leave people paying more tax than they need to.

Just Group FOI request reveals regions where high house prices cause the biggest IHT headaches

Comparing the latest HMRC figures (for 2018/19) to the number of deaths recorded in each region that year suggests Inheritance Tax is due on about one in every 30 deaths (3.5%) in the UK.

French Budget targets trusts in low tax jurisdictions

It introduces an automatic presumption that the required 10% stake in the investment holding settlement is attained in order to tax its income and gains on a look-through basis.

Main tax proposals in the new Dutch coalition agreement

This article summarises the most important tax proposals relevant to corporate taxpayers and property investors.