Tax & Regulation
Hong Kong regulator ramps up disciplinary action
Disciplinary action taken by Hong Kong’s Securities and Futures Commission (SFC) kicked up a gear during 1H16, rising 66.7% from last year.
Best Practice | 9 Dec 16
FCA sets deadline to end closed life book ‘poor practice’
A tighter framework for closed books of life and pensions business has been unveiled by the UK’s Financial Conduct Authority (FCA) after uncovering poor practices in parts of the industry.
Best Practice | 8 Dec 16
Tax avoidance vs evasion debate “immoral” and “inconsistent”
The gap between tax avoidance and evasion is disappearing and it is “immoral” to refer to it in the modern tax debate, said Richard Murphy, professor in practice in international political economy at City, University of London.
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.
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.