Europe
‘Unlimited fines’ on the way for offshore tax evaders
Prison sentences and “unlimited fines” are two draconian penalties HM Revenue & Customs (HMRC) will have at its disposal from next week for UK taxpayers who evaded tax through offshore means in tax year 2017/18.
Passporting vital for small advice firms post-Brexit
News that passporting will continue during the Brexit transition period has been welcomed by the founder of a Belgium-based advice firm who has also backed the FCA chief’s calls for the agreement to continue after the UK leaves the EU.
PEOPLE MOVES: Marlborough, CISI, State Street
Marlborough hires a head of business development from Brooks Macdonald, the Chartered Institute for Securities & Investment appoints a board chairman, while a former Blackrock employee joins State Street to head ETF model portfolios.
EU targets US for tax haven blacklist
A “fast-tracked” OECD review could decide if the European Union adds the United States to its blacklist for non-cooperative tax jurisdictions, according to media reports.
UK Sipp business drives strong STM results in ‘eventful’ year
The acquisition of UK Sipp provider London & Colonial has “borne fruit during 2017” and played a key part in STM adapting its expat product offering following the unexpected 25% Qrops charge that hit around 80% of the firm’s new business.