Tax & Regulation
Tax & Regulation | 23 Aug 17
UK taxman tasks IFAs with warning offshore account holders
HM Revenue & Customs (HMRC) is warning taxpayers that failing to disclose their offshore accounts could lead to “life-changing consequences” in a letter being sent to millions of individuals via their financial institutions and advisers.
Crocodile Dundee fraudster’s Italian trial collapses
The Italian trial of a Jerseyman at the centre of Australia’s biggest ever tax evasion scandal that ensnared Crocodile Dundee star Paul Hogan has collapsed.
North America | 22 Aug 17
Canada professionals hit out at stricter voluntary disclosure
Plans for significant changes to Canada’s voluntary tax disclosure programme (VDP) have been criticised by trade groups representing the country’s lawyers and accountants.
Best Practice | 22 Aug 17
Qrops transfer rights secured but specialist advice essential
The UK government’s decision to make pension transfers into recognised overseas schemes a statutory right has been welcomed by the industry, but experts caution that advisers will need real expertise to ensure clients don’t fall victim to scams.
Aussie watchdog reports 300% jump in misconduct compensation
Client compensations for misconduct in the Australian financial services industry nearly tripled to A$618.8m (£381.2m, $490m, €416.2m) in the first half of the year, figures contained in the Australian Securities and Investments Commission (Asic) biannual enforcement report show.