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

Capital Gains Tax changes could impact small business owners

Chancellor may renew focus on the tax to help foot the COVID-19 bill

EU blacklist does not properly identify tax havens, Parliament says

This seems to have been the drop that overflowed the bowl.

EU tax information exchanges fail to reach potential

Gaps in the exchange of tax data in the EU may encourage tax avoidance and evasion, according to a report from the European Court of Auditors (ECA)

Belgium: Draft legislation on new annual tax on securities accounts published

The compliance obligations are broadly in line with those for the previous tax on securities accounts.

Govt urged to sort out 'mess' of investment taxes

Under the current structure, people generating the same overall level of income can attract very different tax bills, according to the legal form in which they work.

MEPs vote to add Channel and British Virgin Islands to tax haven blacklist

UK overseas territories such as Cayman Islands also may lose protection once afforded by UK’s EU membership

Relocating to Italy: the Italian Tax Authority unveils new rules for employees

Individuals who meet these criteria are subject to individual income tax in Italy on only 30% of their employment/self-employment/business income.

Future looks bright as Global VC funding soars to $300.5 billion in the second biggest year for VC funding in a decade

Increase signals positive outlook according to KPMG.

New UK register will expose British expats, overseas nationals to major inheritance tax hit

A property bought for £10m in 2010 is now worth £16.7m, which would incur a potential inheritance tax (IHT) liability of £6.7m on death.

Weekly Tax Brief - 19 January 2021

Starting with corporation tax, the UK rate is currently 19 per cent.

Inheritance Tax UK: Britons urged to take ‘fundamental’ actions to eliminate a tax bill

Inheritance Tax (IHT) is generally unpopular with Britons who will have to meet the levy, however, there are certain steps to take which could help people legally avoid the tax.

Luxembourg tax authorities issue a circular on interest deduction limitation

The purpose of the LTA's administrative circular 168bis/1 (the Circular) is to clarify some of the concepts and key aspects of this piece of legislation, through numerical examples.

Slash stamp duty and council tax to level up Britain, Sunak told

If the stamp duty holiday is not extended, as many as 100,000 transactions could be at risk, the Chancellor has been warned

Second London Hedge Fund Worker Facing Extradition over Tax Scandal

Duet Group employee will try to use Brexit to stop extradition

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.