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

HMRC’s smart and stealthy approach to closing the tax gap

Global crises such as the financial crisis of 2007/08 and the current coronavirus pandemic impose enormous financial strains on countries’ economies and tax systems.

Charities seek social investment tax relief extension

Social enterprises and charities gearing up to help combat the impact of Covid-19 and support economic recovery are calling on the government to extend social investment tax relief (SITR) for two years, in order to help them fundraise

Weekly Tax Brief

Despite the imminent reopening of certain EU borders, Britons will lose the ability to travel freely across the EU from the end of the year.

Funding the coronavirus response in the UK

The Conservative Party manifesto pledged not to increase income tax, national insurance or VAT.

UK taxman account freeze orders up 177% in a year

And it could use ‘powerful weapons’ on those suspected of abusing coronavirus furlough scheme

Management of tax reliefs

The UK tax system has over 300 of this kind of tax reliefs, which cost the Government an estimated £155 billion of foregone tax revenues in 2018-19

A clampdown on corporate tax avoidance is coming. Companies should embrace it

In the U.K., for instance, the forecasts already predict the national deficit could rise from 55 billion pounds to 337 billion pounds (around $67 billion to $410 billion) by the end of this year.

HMRC Sharply Increased Use of Account Freeze Orders in Latest Tax Year: FT

The total compares to HMRC’s use of 60 account freezing orders, covering £8 million, during the previous tax year.

Scotland bans Covid-19 support to firms based in tax havens

MSPs vote to prevent such businesses and individuals from using relief funds

The situs of cryptocurrencies: an answer, but for how long?

Cryptocurrencies also pose challenges to HMRC

Island expats cough up cash amid HMRC corona crackdown

Part of the rise has been attributed to reforms in recent years

Expats hit with tax planning complications due to lockdowns

This could impact your tax planning strategies which, in turn, could affect other personal finance matters including retirement planning, estate planning and trusts.

Which taxes are being hit hardest by coronavirus?

A recent report analyses the tax cost of coronavirus between sectors.

How HMRC deals with suspected tax offences

Explain what the contract disclosure facility is

Weekly Tax Brief - 5 May 2020

When the situation demands it, the UK has a great capacity to respond to crises.

Danish tax office seeks Cayman information in alleged fraud scheme

The suit aims to recover US$2.1 billion in dividend withholding-tax refunds claimed for shares the defendants said they owned in Danish stock market-listed companies.

Boris under pressure to ban UK tax-dodging bosses from getting furlough bailouts

Labour leader Keir Starmer, Lib Dem MP Layla Moran and Archbishop of Canterbury Justin Welby have all supported a move to put a ban in place

Former Fry Group trio launch UK expat tax advice firm

It has opened now to provide support to NHS workers during covid-19 crisis

Weekly Tax Brief

There is a very real sense in which the population of the UK should give itself a round of applause for coping so well with life under lockdown.

Tax reform ‘required’ for economic recovery

With the need for certain, simple, fair taxes which are support of growth, administratively straight forward and manageable, six areas should be near the top of the list.