Managers of Wealth Offshore

HMRC invests £3m to improve payment processes

HMRC has signed a £3m contract for open banking services, the government’s largest to date, with start-up fintech Ecospend, in a bid to streamline its payment processes and reduce errors

Global tax enforcement chiefs target cryptocurrency

This year, the designated challenge they focused on involves the role of cryptocurrency and the financial technology industry in tax evasion.

Saffery Champness & Nordicity commissioned to report on Scotland's screen sector

The aim of the study is gain a clearer understanding of the value of the screen sector to Scotland's economy, and how this sits in a UK-wide context.

New rates of stamp duty for non-UK residents from 1 April, says accountants Hillier Hopkins

“The new rates do not apply to commercial and retail properties and are likely to remain attractive for overseas investors.”

Japan gets details on 2 million offshore accounts to combat tax evasion

The tax agency said it has already received information as of Jan15 on 2.19 million accounts in the year starting July.

Saffery Champness is recognised as a UK Top Employer 2021

The Top Employers Institute programme certifies organisations based on the participation and results of their HR Best Practices Survey

Saffery Champness Guernsey recognised in Spear’s 500 for 2021

This is the first year that the Spear’s 500 has included a category dedicated to practitioners in the offshore services industry.

OECD issues updated guidance on the tax treaty implications of the COVID-19 pandemic

The guidance is relevant only to circumstances arising during the COVID-19 pandemic

Jersey Finance rejects ‘tax haven’ label for the Island

Jersey was singled out during the debate and labelled a ‘tax haven’ by Dutch MEP Paul Tang, the author of the resolution.

Guernsey extends 2019 income tax returns deadline

For individual customers, the Revenue Service will launch a new online personal return at this time.

New Paraguay law extends withholding tax to digital services

The law specifies that, as of January 1, resident taxpayers who provide digital services are subject to income tax and VAT.

Nowhere to hide for super-rich tax dodgers

Sars is slowly closing off the loopholes that have allowed high-net-worth individuals to hide the scale of their incomes

EU tax information exchanges fail to reach potential

Gaps in the exchange of tax data in the EU may encourage tax avoidance and evasion, according to a report from the European Court of Auditors (ECA)

European Leaders See Promise on Digital Tax

The Organization for Economic Cooperation and Development (OECD) hosted the international talks over digital taxation.

MEPs vote to add Channel and British Virgin Islands to tax haven blacklist

UK overseas territories such as Cayman Islands also may lose protection once afforded by UK’s EU membership

Will Tax Havens Fall Prey to Global Momentum on Anti-Abuse Tax Initiatives?

Worldwide economies are struggling with tax revenues down sharply, and governments will turn over rocks to reduce deficits.

New UK register will expose British expats, overseas nationals to major inheritance tax hit

A property bought for £10m in 2010 is now worth £16.7m, which would incur a potential inheritance tax (IHT) liability of £6.7m on death.

Panama Papers tax haul tops $143 million

An Australian Taxation Office spokesman said the organisation had worked with the cross-government Serious Financial Crime Taskforce to analyse and cross-check data obtained by authorities in April 2016.

Luxembourg tax authorities issue a circular on interest deduction limitation

The purpose of the LTA's administrative circular 168bis/1 (the Circular) is to clarify some of the concepts and key aspects of this piece of legislation, through numerical examples.

KPMG announce new Crown Dependencies practice

KPMG in the Channel Islands and KPMG in the Isle of Man announce the merger of their businesses to form a single Crown Dependencies practice.