Managers of Wealth

Pilatus auditor KPMG says it acted professionally in dealings with private bank

Audit firm whose partner also attended Pilatus chairman’s wedding says it has acted professionally and ethically

The Dutch government ponders “golden boy liability” clause for finance executives

However, the controversy continues with the ASR insurance company proposing on Tuesday a 35% pay rise for its management.

Trusts: Do they still have a role to play? Saffery Champness

Negative press coverage also means that the general public often sees trusts as vehicles for the wealthy to hide their assets and avoid taxation.

Swiss bank whistleblower arrested in Spain

Falciani was arrested on Tuesday close to the Universidad Pontificia de Madrid where he was due to speak on "When telling the truth is heroic".

Making Tax Digital – exploding the myths by Ian Carpenter and John Forth

Myths have grown up around the Making Tax Digital (MTD). While VAT is now at the forefront of the plans, it is expected that the MTD changes will eventually apply to all the main taxes so will impact all UK taxpayers. With so many misconceptions, we separ

Japanese and Swiss regulators ink fintech pact

This Cooperation Framework recognises the global nature of innovation in financial services and intends to enhance the relationship with FINMA on FinTech.

FCA reveals strict new rules for asset managers

The FCA has also today published an Occasional Paper setting out the results of behavioural research which looked at how different ways of presenting information about charges affected investors’ decision-making and their understanding and awareness

Why Many Trusts And Estates Lawyers Are Missing The 2018 Gold Rush

The Tax Cut and Jobs Act of 2017 is certainly a powerful catalyst for generating significant new revenues.

HMRC gives Formula One £180 million tax boost

F1's headquarters and the company which owns its valuable commercial rights are based in London, so it pays tax in the UK on its profits, known as EBITDA.

Merrill Lynch Gives Up Fight Against Former Advisors’ Right to Arbitrate

Merrill Lynch has dropped nine federal court cases it filed against former financial advisors to prevent them from arbitrating claims against the firm.

Steve Cohen beats $8B suit alleging he tried to ‘kill’ insurer

Charges against Kynikos and Third Point were previously dropped but the case against SAC was revived last April.

Offshore UK jurisdictions react to latest tax avoidance inquiry

Awareness of the inquiry was heightened by the publication in the UK’s Guardian newspaper, also last week, of comments on the matter by John Mann, a Labour party MP who is chairman of the Sub-Committee overseeing it.

HSBC is investigated over £134m ‘tax evasion’ scheme

Ten defendants, including City bankers and financial advisers involved in selling the scheme through Zeus, had previously been charged with cheating the public revenue, an offence that can lead to lengthy custodial sentences.

Central Bank fines wealth firm

However, the Central Bank said it identified failures by BCWM which has admitted to the breaches regarding necessary arrangements for opening client asset accounts.

Estate and Tax Planning Use of Trusts for Qualified Plan Assets

The goal is to enable the trustee to defer income taxes on the benefits while coordinating the requirements of the client, the trustee, the plan administrator and the IRS.

HMRC publishes new guidance on offshore tax offences

New online guidance setting out taxpayers' responsibilities in respect of offshore income, assets and activities has been published by HM Revenue and Customs (HMRC).

Switzerland must 'urgently' do more to tackle bribery and protect whistleblowers, OECD says

Country faces 'particular risk of corruption' be because of a large number of public international organisations and an outsized financial sector, report says

Oligarch’s £22m property frozen in crackdown on unexplained wealth, security minister reveals

The oligarch was served with an “unexplained wealth order”, under the new Act.

Arbuthnot Banking's full-year profit jumps on surge in lending

Arbuthnot Banking Group stuck to its optimistic stance over Britain’s vote to leave the European Union, saying that the associated turmoil would create investment opportunities.

The Impact Of Tax Reform Changes On High-Net-Worth Clients

Perhaps the first and most obvious change relating to HNW individuals is the doubling of the estate and gift tax basic exclusion amount.

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