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

KPMG announce new Crown Dependencies practice

KPMG in the Channel Islands and KPMG in the Isle of Man announce the merger of their businesses to form a single Crown Dependencies practice.

Will Budget tax increases become Covid-19 casualties?

Should capital gains tax rates be raised?

Carried interest in 2021: New guidance for tax on income associated with services provided to investment partnerships

Treasury made several significant changes in the rules, many of which are to the benefit of taxpayers.

Belgium adopts multiple defensive tax measures towards EU blacklisted jurisdictions

The list includes non-EU countries and territories that do not comply with certain “tax good governance standards” relating to transparency, fair taxation and implementation of the minimum standards agreed at OECD level as part of the Base Ero

Managing tax if the client moves abroad

There are several parts to the Statutory Residence Test. Broadly, in deciding the UK tax residence position for a tax year the Test involves counting days of presence in the UK, and a consideration of the connecting factors to the UK.

UK Inheritance Tax Reform: rates, reliefs and responsibility

The OTS’s report has flagged that the effective rate for very large estates (i.e. estates over £7m) is, in fact, in the region of 10% once all relevant reliefs and exemptions are properly applied.

UK Inheritance Tax Reform: lessons from Europe

As for the connecting factors based on where to charge IHT, most European countries use either the situs of the assets or the residence of the donor (and more rarely the residence of the donee) as the connecting factor to charge succession or donation tax

Advisers urged to brush up on tax rules after govt u-turn

At the end of the Brexit transition period many EU directives and other regulations ceased to apply to the UK.

Brooks Macdonald removes VAT from its managed portfolio service

The change will apply to Brooks Macdonald's custody MPS and those held on third party platforms (platform MPS).

UK DAC6 reporting obligations substantively removed post-Brexit

HMRC state that it is the intention of the UK Government to implement the OECD model Mandatory Disclosure Rules (MDR) into UK domestic law as soon as practicable.

Tax and fairness: the debate has changed

With the prospect that the Chancellor of the Exchequer would raise taxes in his 3 March 2021

Snaphot: Potential New UK CGT Rates - Implications for Private Equity Fund Structures

If the rates were brought up to even close to income tax rates this would mean an effective doubling of the CGT rate for higher rate taxpayers.

Andersen Global Adds Additional Member Firm in Portugal

It has been a pleasure working with like-minded individuals who are dedicated to serving clients at the highest level.

Taxing the Wealthy Is Always Popular

The Commission cited a survey conducted in May this year indicating that 63% of respondents supported a one-off wealth tax on households with assets over 2 million pounds ($2.7 million), excluding homes and pensions.

Russia's Mishustin Approves Protocol On Amendments To Double Tax Agreement With Malta

It added that Russia and Malta signed the protocol on amending the Double Tax Agreement in October 2020.

Luxembourg Update: Important Clarification for RAIFs for RR and RC Appointments

This update is a FAQ regarding persons involved in AML / CFT for RAIFs.

Calls to consider gifting into trusts amid CGT uncertainty

"A gift into trust is often undertaken when someone wants to make a gift for the benefit of family members whilst retaining control of the assets gifted during their lifetime."

Luxembourg Update: Filing Extensions for 2019 and 2020 Tax Returns

On 21 December 2020, the Luxembourg Finance Minister announced an extension to the filing deadlines for 2019 and 2020 Luxembourg tax returns.

UK tax evasion prosecutions fall by half in 5 years

Critics question HMRC’s strategy considering the billions lost to fraud each year

EY’s UK partners to take smaller hit than rivals

Chairman says investment in staff created resilience to Covid-19 disruption