Tax & Regulation
Cyprus clamps down on shell companies
Tax residence benefits are only for businesses that have real substance, says central bank
Regulator warns 12 DB pension schemes over transfer activity
The UK Pensions Regulator has written to the trustees of 12 different defined benefit (DB) pensions schemes regarding transfer activity.
UK lifeboat scheme off the hook for Beaufort compensation
The UK’s Financial Services Compensation Scheme (FSCS) will not have to pay full compensation to clients of collapsed Beaufort Asset Clearing Services after the High Court approved a plan to return client money and assets.
Dwindling UK non-doms pay record £9.4bn in tax
UK non-domiciled taxpayers handed over a record sum to HM Revenue & Customs in 2016/17 despite their numbers dropping by a quarter.
Advisers face ‘battering’ over China regulations
China’s new asset and wealth management guidelines will likely trigger a fresh wave of consolidation despite some recent revisions, according to Andrew Xia of Noah Holdings, a private Chinese asset management service provider.