Managers of Wealth Offshore

The Use of Offshore Tax Havens for Investments and Tax Avoidance

A deep dive into offshore tax havens.

Economic substance – time to review your business model

With three years of regulatory responses and submissions completed, it’s a crucial time for companies to revisit their business models and review the original economic substance assessment to see if it still holds up in light of emerging trends

EU Global Minimum Tax Directive and Investment Fund Structures

An investment fund must meet several conditions to qualify for the safe harbour

For EY, breaking up is hard to do

But there is still a commitment to a split into two companies.

The Corporate Tax Planning Law Review - Ireland 2023

This chapter first appeared in the fifth edition of The Corporate Tax Planning Law Review published by Law Business Research.

FTT orders HMRC to close enquiry into 20-year-old offshore company dividend

The position of the applicants was that they come from a wealthy family and have benefited from substantial gifts from their late parents.

Top finance official warns of “consequences” for businesses over tax non-compliance

Wilson noted that there are 50,000 businesses registered and about 40,000 of those businesses report an annual turnover of less than $100,000.

VAT and input tax recovery – a legal sector case outcome

There is a basic premise that VAT incurred on purchases is only recoverable to the extent that it is used in the making of taxable supplies by a taxable person.

Advisory body pushes private pension schemes in National Strategy for Financial Services

The Malta Financial Services Advisory Council suggests opt-out pension plans for employees and tax cuts on income from private pension schemes in new financial services strategy

French prosecutors raid five banks in massive tax fraud case

Authorities said banks, including Societe Generale, BNP Paribas and HSBC, faced a compensation request of more than $1bn.

HMRC opened 25 tax fraud investigations into HNWs in 2022

UK government ‘is likely to continue to invest in this high-end form of tax enforcement’

$4 Trillion in U.S. Wealth Held Offshore: Report

The likelihood of owning such an account increases sharply with income, the researchers found, and the value of those accounts soars at the very top of the income distribution.

HMRC opens 25 new tax fraud investigations into wealthy individuals

The unit only reserves criminal processes only for serious investigations.

New Condo-Hotel Tax Announced

Properties that are part of hotel rental pools previously enjoyed exemption from payment of real property tax

Insurers welcome health VAT treatment deferral but issue “not off the table”.

The Ministry of Finance (MOF) has previously stated that the practice of insurers claiming VAT paid on payouts as inputs are not allowed in law.

PKF Antares intends to staff a new Bermuda office

The firm will also be looking at facilitating secondments.

Advantages of Jersey / Guernsey companies as UK ‘qualifying asset holding companies’ (QAHCs)

A crucial requirement for QAHC eligibility is that the company is UK tax-resident, but not that it is a UK company.

UK Spring Budget: Views from BDO’s Tax Director

There have been no changes to previously announced rates but UK taxpayers should remember that, from 6 April, the 45% higher rate will now apply to income over £124,140 rather than the previous £150,000.

Key changes to the Luxembourg double tax treaty

We highlight the key changes which will impact businesses as a result of the Double Tax Treaty between the UK and Luxembourg.

Bahamas could gain $140m from 15% minimum taxation

The Bahamas, despite having no history of income or corporate taxes, is among 138 nations that in July 2021 signed on to the Organisation for Economic Co-Operation and Development (OECD) inclusive framework that underpins the minimum tax drive and commits