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

£473k in payouts for those snitching on tax dodgers

Adam Craggs, the head of tax investigations at RPC, said: “Disgruntled employees may tip off HMRC as a way of getting back at their employer.

Tax rises will be 'acid rain on green shoots' as investors flee overseas, warns minister

Senior business chiefs have warned major companies shun UK investments if the Treasury presses ahead with 'daft' hikes.

IFS tells govt to consider pension tax hike to pay off Covid debt

Currently, when people take money from their pension 25 per cent is tax free while the remaining 75 per cent above the personal allowance is charged at the marginal rate of income tax.

What do French tax law changes mean for expats?

More generous opportunities on offer due to the pandemic

Warning tax evasion policy can foil M&A deal at 'eleventh hour'

For advisers this means they would need to act if they found a client had undeclared assets on their books.

Weekly Tax Brief

HMRC recently published a second consultation document with proposals for preventing abuse of the research and development (R&D) tax relief for SMEs

Belgian Tax Probe vs Credit Suisse Advances

Last year, HSBC's Swiss arm paid 300 million euros ($354 million) to settle a similar probe in Belgium.

Expats in Spain risk tax residency if caught in covid lockdown

183 days remains the threshold even if people were unable to leave the country

COVID- 19 lockdown stays in Spain will count towards tax residency status in Spain

According to Spanish law, an individual will be considered tax resident in Spain if, amongst other criteria, they spend more than 183 days in Spain.

Treasury denies it plans to drop 'Facebook tax' in favour of trade deal

Newly introduced tax expected to raise £500m, helping to reduce Britain’s huge Covid bill

Belgium Launches Tax Evasion, Money Laundering Probe into Credit Suisse

The object of the operation was to hide the money in the Credit Suisse accounts from the Belgian tax authorities – a practice that better international cooperation is making more and more difficult, though still not impossible.

Inheritance tax rules set to be overhauled following Supreme Court ruling – full details

A gratuitous benefit is deemed to occur when a particular action is taken in relation to funds with the intention of reducing the IHT applied on those funds.

Five million wealthy Brits will not receive inheritance

As only 40% of HNWs have plans in place to minimise the tax paid by beneficiaries

HMRC collects £120m through ‘plea bargain’ tax evader deals

Law firm expects investigations to rise to pay for cost of coronavirus-related economic assistance

HMRC investigates 10,000 Covid scams

“These scams are often cleverly designed with official branding are incredibly realistic, coaxing unsuspecting victims to hand over confidential information such as bank account details, usernames and passwords.”

Weekly Tax Brief

The Self Employed Income Support Scheme (SEISS) aims to help those who are adversely affected by the coronavirus crisis

Tax specialist Stellar poaches Blankstone AIM fund manager duo

Stellar Asset Management has embarked on an expansion of its AIM service, launching a new office and hiring two fund managers from Liverpool stockbroker Blankstone Sington

Tax evasion: 25% increase in amount collected in UK deals

HMRC receives information automatically under the Common Reporting Standard about financial accounts held by UK residents in more than 100 jurisdictions.

UK creative industries an “economic success story”

UK film and television is an international success story, employing over 125,000 full time earners.

Tax incentives hit record high at £25.6bn

These types of incentives include tax relief on pension contributions, individual savings accounts and venture capital trusts.