Tax & Regulation
North America | 11 Mar 16
Cayman firms plead guilty to helping US clients avoid tax
Two Cayman Island investment and trust companies pleaded guilty in a New York federal court to helping American clients evade tax. The first conviction of its kind outside Switzerland.
Tax & Regulation | 9 Mar 16
UBS, Deutsche Bank lose major UK banker bonus tax case
HM Revenue & Customs (HMRC) has shut down a major tax avoidance scheme used by bankers at UBS and Deutsche Bank to avoid paying around £135m in tax.
Tax & Regulation | 7 Mar 16
Senior Managers Regime comes into force in UK
The UK’s new senior managers regime, designed to hold bankers and insurance managers accountable for misconduct in areas under their responsibility, has come into force and will apply equally to officers of the Financial conduct Authority (FCA) and the Prudential Regulation Authority (PRA).
North America | 7 Mar 16
US-Swiss FATCA exception clause very narrow
Despite the recent FATCA carve-out agreed between the US and Switzerland, US citizens looking to circumvent their tax reporting obligations will have to look further afield if they want to avoid declaring their offshore assets.
Tax & Regulation | 7 Mar 16
Budget changes to UK pension system still possible
The UK chancellor George Osborne’s widely reported decision to abandon plans to shake up the pension taxation in this month’s budget still leaves room for tinkering with the pensions system, analysts said.