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

FRC announces company reporting expectations for 2020/21

During a recent thematic review the FRC noted the quality of cash flow statements was a concern, numerous basic errors were seen

HMRC sends out ‘nudge’ letters to check on UK residency

The main reason for these campaigns is to increase the tax take, and this one comes as the Government looks at ways of clawing back billions spent during the current pandemic.

Guernsey to scrap income tax on international savings plans

As UAE advice firm chief expects a ‘commercial war’ between crown dependencies

Weekly Tax Brief

HMRC’s announcement therefore prompted a concerned response from industry and representative bodies

Overhaul of the Capital Gains Tax Regime – Office of Tax Simplification makes bold recommendations

On the other hand, the recommendations represent such a ground shift that they could, if implemented, lead to a significant reduction in investment in the UK (particularly by foreign investors).

Tax on acquisitions in France

Special rules apply to transfers of shares in real estate companies.

Deutsche Bank: Workers Should Pay 5% 'Privilege' Tax To Work From Home After Covid

As a basis for the argument, the bank says working from home is financially rewarding thanks to "direct financial savings" on expenses such as commuting, clothes and lunches, as well as indirect savings from things like reduced work-related soci

Who can benefit from Malta’s Fiscal Units which consolidate income tax?

The new legislation allows for this by giving companies the right to form Fiscal Units.

Swiss government approves new law governing tax treaties

The new law would stipulate how mutual agreement procedures in tax treaties are to be carried out at the national level.

Spain to increase income and wealth tax

‘This will push UHNW retirees and investors to look at other more favourable jurisdictions’

Govt urged to overhaul capital gains tax in OTS review

The OTS found the disparity between CGT and income tax rates was one of the main sources of complexity

EU releases assessment of Cayman’s fund regime

In a September 2019 analysis, the EU found Cayman’s framework for funds was inadequate in three of the four pillars and that there was not enough information to assess the remaining one relating to supervision and enforcement.

Spain to increase income and wealth tax

‘This will push UHNW retirees and investors to look at other more favourable jurisdictions’

Weekly Tax Brief

Staff dissatisfaction and turnover not only increases overhead costs but also reduces performance and increases error levels.

HMRC tax evader watchlist up 30%

When an individual is placed on the scheme the tax authority can inspect their home or business and perform checks on any part of their tax affairs without any prior warning.

We can’t afford tax havens in the age of #Coronavirus

It’s almost impossible to predict the full scale of economic damage while most of the world is still fighting to contain the virus’s exponential spread, and while so much remains uncertain.

Spain: Digital services tax enacted

The DST is an indirect tax that will apply to the provision of certain digital services to users located in Spain.

HMRC cuts new tax probes as it focuses on pandemic

HMRC has dropped the launch of new tax probes by more than 50% after the coronavirus crisis first erupted to focus on implementing the UK government's covid-19 plans.

Weekly Tax Brief

With three months to go until the normal filing deadline, people’s minds are turning to tax return completion.

EY wins more blue-chip audits despite Wirecard fiasco

Big Four firm was sharply criticised for failing to spot a €1.9bn fraud at German payments group