Managers of Wealth

IoM considers changes to commission disclosure rule

The change is likely to be announced in response to industry feedback to the consultation on the latest draft, which ends 16 June 2017.

KPMG delivers new bombshell to partners over taxman's unpaid bill

KPMG wrote to hundreds of UK partners last week to outline tax bills running to tens of thousands of pounds, Sky News learns.

In Securities Fraud Case, Prosecutors Allege Novel Money Laundering Scheme to Circumvent FATCA Reporting Obligations

The scheme was designed to launder a portion of the fraudulent proceeds from the stock manipulation scheme from the United States through offshore accounts

Celebrity film scheme to appeal £700m tax case decision

"Innocent investors went in on advice and if anyone has been immoral and unfair it's HMRC," reports UK newspaper the Daily Mail.

FCA bans jailed former Schroders trader

The FCA prohibited Clarke from performing any function in relation to regulated activities.

Thousands of British expats could face tax penalties for undeclared cash: report

Banks, building societies, insurance companies and investment companies are required to provide HMRC with data about their overseas clients’ accounts — including balances — by the end of today.

Register of ownership of UK property through overseas companies - privacy in debate

The introduction of the government's People with Significant Control (PSC) register on 6 April 2016 has resulted in greater transparency of ownership of UK companies

Prevention Better Than A Cure?

A company will commit the UK tax offence if a person associated with it criminally facilitates evasion of UK tax by another.

Cyprus offers tax exemption on worldwide income

The concept of 'domicile' already existed under Cypriot legislation by way of the Wills and Succession Law, in which it was used to determine which jurisdiction should govern the succession of a deceased person.

UBS: Questionable IPO Activities in Hong Kong

His former employer has now reported one of the cases to SFC, the local financial market supervisor, «Bloomberg» reported.

Super-rich evade on average nearly third of their due tax

Chance of assets being hidden rises very sharply with wealth, finds economists’ study based on Panama Papers data

The fight against offshore tax evasion continues: CRS disclosure facility delivers first results

Practitioners, ‎financial advisers, civil society and anyone with knowledge of schemes that purport to circumvent the application of the CRS are strongly encouraged to come forward and make use of this facility.

The Bahamas decides to sign multilateral tax information sharing convention

The Convention is the most comprehensive multilateral instrument available for a wide range of tax co-operation to tackle tax evasion and avoidance, and guarantees extensive safeguards for the protection of taxpayers' rights.

Film scheme for the stars loses £700m tax avoidance case

The court found that the schemes were not legitimate investments but a way for investors to avoid paying tax.

Swiss Spy Suspected of Monitoring German Tax Investigators

This exchange would effectively put an end to the secret Swiss bank accounts you often hear about in the news and movies.

EU targets lawyers in tax-avoidance clampdown

Brussels is preparing to crack down on lawyers and accountants running tax-avoidance schemes for clients.

Singapore's central bank fines Credit Suisse, UOB over 1MDB-linked transactions

The fines were smaller than those the authority has already imposed on other banks as part of its biggest money-laundering investigation.

Financial Penalties Imposed on Credit Suisse and UOB for 1MDB-Related Transactions

The banks are currently taking measures to address the weaknesses identified and strengthen their AML controls.

The 1000 richest families in Scandinavia evade a third of their taxes, finds a new bombshell study

Research study: The richest families in Scandinavia avoid paying up to a third of their taxes

Successful EBACE 2017 for Appleby

The Appleby contingent was among 13,000 business aviation professionals from more than 100 countries who attended.

Legal,Regulation,Tax & Compliance