Industry
UK property held in offshore companies to come under IHT
Non-domiciled investors in UK residential properties held via an offshore corporate structure are being urged to check with their advisers about their Inheritance Tax (IHT) liability after the government published plans to tighten the rules.
BNY Mellon launches ‘global leaders’ fund
BNY Mellon Investment Management has announced the launch of a new fund which will invest in up to 30 of the world’s biggest and most innovative companies.
PEOPLE MOVES: Swiss Life, Columbia Threadneedle, Legg Mason
Swiss Life’s chief executive for Switzerland is to depart next year, with his successor already identified. Columbia Threadneedle has also named a chief executive, tasked with covering Emea and asset management. Legg Mason’s head of UK sales is set to depart, with a search underway for his replacement.
Tax & Regulation | 8 Dec 16
HMRC targets 43 football players after £158m tax avoidance haul
HMRC is currently investigating 43 football players and 12 clubs over their use of offshore companies to avoid paying tax on money earned through image rights in the UK, with a senior official revealing the tax office has clawed back £158m ($199m, €186m) in the last two years.
UK and Hong Kong regulators agree fintech cooperation
The Hong Kong Monetary Authority (HKMA) and the UK’s Financial Conduct Authority (FCA) are to “foster collaboration between the two regulatory authorities in promoting financial innovation”.