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Axa Life Singapore ordered to pay $3m over bad reference

Axa Life Singapore ordered to pay $3m over bad...Lock icon

Axa Life Insurance Singapore has been ordered by the country’s High Court to pay compensation to a former employee for providing an unflattering reference to the Monetary Authority of Singapore (Mas) and his prospective employer, Prudential Assurance Company Singapore.

Published : 16, Aug 2017
Football clubs feeling the heat of HMRC scrutiny

Football clubs feeling the heat of HMRC scrutiny...Lock icon

Following raids by HM Revenue & Customs on Newcastle United and West Ham and with over 40 players and 12 teams under review, football clubs in the UK are taking a more proactive approach to tax.

Published : 15, Aug 2017
More UK pension trustees to be hit with higher penalties

More UK pension trustees to be hit with higher...Lock icon

The Pensions Regulator is stepping up how it uses its enforcement powers, which includes financial penalties, and expanding who it considers to be a professional trustee.

Published : 14, Aug 2017
Mazars cleared of bad advice charge by UK Ombudsman

Mazars cleared of bad advice charge by UK Ombudsman...Lock icon

A man who had to pay additional taxes after losing his lifetime allowance (LTA) protection on his pension plans was not poorly advised by the financial planning arm of UK accountancy firm Mazars, the ombudsman has found.

Published : 11, Aug 2017
US court upholds IRS penalty on US expat demanding tax refund

US court upholds IRS penalty on US expat demanding...

A US court has dismissed a complaint by an American citizen residing in Canada who claimed to have paid an unconstitutional penalty for failing to file the fiscal documentation required for his offshore business.

Published : 11, Aug 2017
UK stately home donates Roman artefacts to pay IHT bill

UK stately home donates Roman artefacts to pay...

North Yorkshire stately home Castle Howard has donated Roman artwork to the nation in lieu of nearly £5.5m ($7.1m, €6.1m) owed in inheritance tax.

Published : 10, Aug 2017
Crown dependencies should be able to elect MPs, says Tory MP

Crown dependencies should be able to elect MPs,...

Britain's crown dependencies should be granted the same parliamentary representation given to devolved jurisdictions, a former member of the UK Parliament’s Foreign Affairs Committee has said.

Published : 10, Aug 2017
Sharp rise in UK advice firms providing pension transfers

Sharp rise in UK advice firms providing pension...Lock icon

There has been a 17% increase in the number of UK financial advice firms with regulatory permission to conduct defined benefit (DB) pension transfers over the past financial year, as demand from clients continues to rise.

Published : 9, Aug 2017
Ban and fine against former UK adviser network CEO upheld

Ban and fine against former UK adviser network...Lock icon

An appeal by the former chief executive of an adviser network to overturn a ban on having any ‘significant influence’ on any regulated activity has been struck down and a fine upheld by the UK’s Upper Tribunal Tax and Chancery Chamber.

Published : 9, Aug 2017
Pakistan’s private pension funds assets up 32%

Pakistan’s private pension funds assets up 32%...

Pakistan’s private pension fund industry grew over 32% in the fiscal year ending in June 2017, with total assets under management rising to PKR25bn (£180.8m, $234.4m, €199.6m), data released by the Securities and Exchange Commission of Pakistan (SECP) shows.

Published : 9, Aug 2017
More dawn raids on tax evaders as HMRC ramps up action

More dawn raids on tax evaders as HMRC ramps up...

Dawn raids on suspected tax evaders by UK authorities are up by a third to 669 over the five years to March, as HM Revenue & Customs steps up its pursuit of white-collar fraudsters, reports the Financial Times.

Published : 8, Aug 2017
Hurdles to overcome for 'unwary' Britons retiring in the sun

Hurdles to overcome for 'unwary' Britons retiring...

One in ten UK residents over the age of 50 want to retire overseas, with Spain topping the list of the most popular destinations, but they must do their "homework" first.

Published : 8, Aug 2017
Int’l implications of the UK’s residence nil rate band

Int’l implications of the UK’s residence nil rate...Lock icon

The new Residence Nil Rate Band (RNRB) could have some complicated domicile-related ‘international’ aspects to consider, explains Graeme Robb, technical manager for the Prudential.

Published : 8, Aug 2017
Fighting tax evasion to be priority for Austrian EC presidency

Fighting tax evasion to be priority for Austrian...

When Austria assumes the presidency of the European Council in the second half of 2018, it will prioritise pushing forward European and international measures to prevent profit shifting and international tax fraud, the country’s finance minister said.

Published : 7, Aug 2017
Paying staff in gold 'abnormal and contrived' - UK tax panel

Paying staff in gold 'abnormal and contrived'...Lock icon

Employee incentive arrangements where workers are paid using gold bullion are “abnormal” and not a “reasonable course of action”, according to an independent panel set up to advise the UK government on disputes over potentially abusive tax arrangements.

Clock ticking for South African tax amnesty

Clock ticking for South African tax amnestyLock icon

Taxpayers in South Africa have less than a month to come clean and regularise any undisclosed or unauthorised foreign assets or income before the country’s Special Voluntary Disclosure Programme (SVDP) ends on 31 August.

Published : 7, Aug 2017
Islamic fintech makes inroads into Europe

Islamic fintech makes inroads into Europe

Abu Dhabi Global Market (ADGM) has announced two new partnerships with non-profit associations in London and Zurich aimed at strengthening its position as a global fintech hub for the Middle East.

Published : 7, Aug 2017
India’s Sahara fights regulator on loss of life unit to rival

India’s Sahara fights regulator on loss of life...

Indian conglomerate Sahara said it will take the Insurance Regulatory and Development Authority of India (IRDAI) to court to fight against an order to transfer its life insurance business, Sahara Life, to rival company ICICI Prudential Life Insurance.

Published : 7, Aug 2017
High net worth clients to bear brunt of Belgian tax reform

High net worth clients to bear brunt of Belgian...Lock icon

High net worth individuals might end up footing the bill for the forthcoming corporate income tax overhaul in Belgium.

Published : 4, Aug 2017
Rush for Irish passports gathers pace as Brexit fears rise

Rush for Irish passports gathers pace as Brexit...

The Irish Government said it issued over half a million new passports in the first half of 2017 with the number granted to British applicants set to double this year as people rush to secure their EU residency.

Published : 4, Aug 2017

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US court upholds IRS penalty on US expat demanding tax refund
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A quarter of Brits want a return to commission
A quarter of Brits want...Lock icon

Half of UK clients would prefer to pay a fixed rate...

Mazars cleared of bad advice charge by UK Ombudsman
Mazars cleared of bad...Lock icon

A man who had to pay additional taxes after losing...

Big jump in offshore bond sales at Canada Life International
Big jump in offshore...Lock icon

Sales of offshore bonds rose by 60% in the first half...

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