Managers of Wealth

Open consultation | Non-resident capital gains tax

The Finance Act 2019 expanded the scope for taxing gains made by non-UK residents on UK property

After Luanda Leaks, a billionaire’s empire falls, but her enablers carry on

While Isabel dos Santos and her advisers face multiple investigations, accountability for the offshore industry remains elusive.

HMRC payments to tax evasion whistleblowers up 63%

BDO points out that in 2019 the US tax authorities over $120m (£90m) to whistleblowers, at an average of $664,000 (£500,000) per award, whilst collecting over $660m (£497m) of additional taxes.

Swiss banks ordered to disclose account details of FATCA non-compliers

Most banks agreed to join this non-prosecution programme, but some did not, or were disqualified from doing so because they were already under criminal investigation.

Russian oligarch’s son racked up $50m in day trading losses

Ex-wife of billionaire Farkhad Akhmedov accuses their son of helping to hide assets in divorce battle

Global investment firm acquires the Acrotec Group

Acrotec recently expanded its position as a trusted MedTech contract manufacturer leveraging its high-precision engineering capabilities to service a diversified base of global customers.

Malta luxury cards provider fined €373,000 for money laundering breaches

Ultra-rich spenders’ credit card company that recruited former Labour minister Chris Cardona in litany of money laundering breaches

Covid: Argentina passes tax on wealthy to pay for virus measures

Argentina has recorded close to 1.5 million infections and almost 40,000 deaths from the coronavirus.

HMRC under fire for 11 ‘serious’ personal data breaches affecting over 20,000 people

The incidents, disclosed in HMRC’s newly published annual report, are estimated to have affected 23,173 people in total and have been analysed by litigation practice Griffin Law.

Entry into force of the amendment protocols of six DTAs

Most of the provisions will apply from 1 January 2021, although some provisions are applicable from the date of entry into force.

Charges expected after Pilatus money-laundering probe

The bank’s operations were shut down in 2018

Spain Ex-king Submits Papers To Sort Out Tax Affairs: Report

They said investigators were looking into funds deposited in at several Spanish bank accounts held by a Mexican business and a Spanish Air Force official, and whether they had been accessed by the former monarch.

Swiss-UK deal to grant consultants privileged mutual access

Under the terms of the deal, British service providers will have access to the Swiss workplace for up to 90 days at a time, the government said on Friday.

Global Fintech Regulatory Rapid Assessment Study due to Covid-19

This global study seeks to assess how central banks and other financial regulators are responding to the challenges of Covid-19 in regulating and supervising FinTech activities and other forms of Digital Financial Services (DFS).

ISDA using Digital Asset clearing and DLT technical advances and international legal issues

The ISDA functions to promote safer and more efficient derivatives markets by developing standards like the ISDA Master Agreement and a wide range of related documentation.

OECD tax revenues fall slightly before the COVID-19 pandemic, but countries face much larger decreases ahead, particularly from consumption taxes

The COVID-19 crisis is likely to significantly hit tax revenues in 2020, particularly from consumption taxes, due to the sharp fall in economic activity and consumption following lockdowns and the forced closure of many businesses.

Legal,Regulation,Tax & Compliance