United Kingdom
Ex-adviser jailed for Cambodian biofuel scam faces SFO action
A former financial adviser currently serving six years in a UK prison for his part in a collapsed biofuel investment scam, is facing further enforcement action by the Serious Fraud Office (SFO) after missing the deadline to pay a confiscation order.
Tax & Regulation | 1 Feb 17
HMRC fines for ‘careless’ errors up 70% but half are dismissed
HM Revenue & Customs (HMRC) penalties against taxpayers who have made ‘careless’ errors on their tax returns have soared by nearly 70% although half of these are dismissed on appeal, according to latest figures obtained by international tax advisory firm RSM.
IoM regulator confirms two commission disclosure deadlines
Life insurance companies on the Isle of Man must provide broad commission disclosure from 1 January 2018 and policyholder specific commission disclosure from 1 January 2019 under the proposed new Conduct of Business Code.
Best Practice | 1 Feb 17
Zurich partners with pension advice service for scam helpline
Zurich UK Life has teamed up with The Pensions Advisory Service (TPAS) to pilot a pension scam helpline, offering impartial guidance to customers looking to transfer their savings into schemes that the life insurer has identified as suspicious.
Tax & Regulation | 31 Jan 17
HMRC tax revenues from ‘enveloped’ properties up 53%
The UK tax office raised £178m ($223m, €208m) in financial year 2015/16 through taxing British homes owned by companies, data from London and Geneva-based law firm Collyer Bristow suggests.