Best Practice | 7 Jun 17
Tax evasion crackdown will see wealth managers lose $13bn
Wealth managers around the world will lose around $13bn (£10bn, €11.5bn) of annual revenue due to a global crackdown on tax dodging as clients are set pull out $1.1trn out over the next few years, a new report suggests.
Tax & Regulation | 7 Jun 17
Over 1m UK taxpayers could face ‘stealth tax’ rises by 2019
More than one million UK taxpayers, who earn between £100,000 and £123,000, could face paying an effective tax of 60% if the current tax system remains unchanged, according to international accountancy firm RSM.
Tax & Regulation | 7 Jun 17
Labour’s land value tax unlikely to apply to gardens
Plans by Britain’s opposition Labour Party to impose a ‘land value tax’ are unlikely to apply to gardens and other “productive land”, despite criticism the policy could cost the average home £5,539 (€6,346, $7,149).
Middle East | 6 Jun 17
IoM and UAE regulators ‘in talks’ over life sector overhaul
The Isle of Man Financial Services Authority (IoMFSA) has met with the UAE Insurance Authority to compare notes on pivotal life sector reforms due to be introduced in their respective jurisdictions.
Tax & Regulation | 5 Jun 17
UK’s IHT relief on charitable relief reaches record levels
The amount of inheritance tax saved by leaving money to charities in the UK is predicted to surpass £900m (€1,027m, $1,159m) in the next financial year, following a sharp increase in the amount of charitable donations left in wills.