Tax & Regulation
Best Practice | 24 Aug 16
HMRC plans tougher penalties for offshore tax evaders
The UK tax office has announced plans to increase the penalties on anyone who has not paid outstanding taxes from offshore investments ahead of the start of a new data sharing agreement with the crown dependencies and territories in October.
North America | 24 Aug 16
Campaign group calls for Fatca exemption for US expats
American Citizens Abroad (ACA), a campaign group for US citizens living overseas, has called on the US Treasury Department to amend Fatca regulations which would allow US expats to hold bank accounts exempt from the stringent reporting standards.
Tax & Regulation | 23 Aug 16
UK ombudsman pledges to tackle scammers of £755m fraud
The UK’s Financial Ombudsman Service (Fos) has set out the scale of fraud carried out in the country’s financial services sector, pledging to work with other regulatory bodies such as the Financial Conduct Authority to crackdown on scams.
China’s regulator continues fund house crackdown
The China Securities Regulatory Commission (CSRC) put 73 private fund firms under administrative supervision measures in the first half of this year after illegal or irregular activities were found.
UK to tighten IHT rules on non-dom offshore properties
The British government plans to extend its inheritance tax (IHT) rules to cover properties held by non-domiciled residents in an offshore entity.