Antiquated Australian tax residency rules face overhaul
Australia’s individual tax residency rules have not changed in 90 years and desperately need modernisation and simplification, the country’s Board of Taxation has found.
UK Sipp market to grow by £1.9bn a year
The UK self-invested personal pension (Sipp) market is expected to grow by £1.9bn a year to 2020 despite rising customer complaints, according to the latest research by GlobalData.
UK government considers flat-rate pension tax
HM Treasury is investigating whether to introduce a flat rate of pension tax relief, in a bid to raise an extra £4bn (€4.5bn, $5.3bn) a year for the National Health Service (NHS).
Credit Suisse Hong Kong to pay $77m for corrupt hiring scheme
Credit Suisse’s investment bank in Hong Kong will pay a total of $77m (£58.2m, €65.9m) to settle criminal and civil proceedings taken by the US Department of Justice and the Securities and Exchange Commission (SEC) for its role in a corrupt hiring scheme.
Mis-sold Sipp complaint upheld in rare move
The UK’s Financial Ombudsman Service (FOS) has upheld a mis-selling complaint involving an unregulated introducer and self-invested personal pension (Sipp) provider Guinness Mahon.