Tax & Regulation
Tax & Regulation | 26 Apr 16
Life offices say offshore bonds to benefit from HMRC reforms
Plans to overhaul the current 5% tax free allowance on life insurance policies are “very good news” for offshore bonds, said Neil Jones, technical manager at Canada Life.
Best Practice | 25 Apr 16
FCA issues 7 scam alerts on unregulated firms in a week
The UK’s Financial Conduct Authority (FCA) has blacklisted a number of firms it believes are providing financial services without authorisation.
China warns mainlanders against buying HK insurance products
The China Insurance Regulatory Commission (CIRC) has warned that Hong Kong insurance products are not protected under mainland law, as the mainland insurance industry tries to claw back business from Hong Kong.
Tax & Regulation | 25 Apr 16
More countries sign up to beneficial ownership transparency
The Isle of Man and Gibraltar are among a group of 22 jurisdictions that have signed up to an information-sharing initiative to combat tax evasion, while Australia is looking at creating a public register revealing the identities of the beneficial owners of shell companies.
Offshore Bonds | 25 Apr 16
HMRC to overhaul 5% tax free allowance on life bonds
The UK tax office plans to overhaul rules governing the part surrender and part assignment of life insurance policies to redress the unfair tax bills which some individuals face if they withdraw money from an investment bond in the wrong way.