Swiss tax amnesty under fire from dissenters
Swiss dissenters are trying to torpedo agreements that guarantee taxes worth billions are withheld from undeclared accounts held by the nation’s secretive banks. The three
Time to hang up the wealth management black hat
As governments team up to lift the veil on former shelters for the wealthy the world over, here’s a look at the pros and cons
OECD treaty change triggers tax concerns
A controversial tax treaty update could see wealthy cross-border investors facing random inquiries about their overseas holdings. The Organisation of Economic Cooperation and Development (OECD)
Judges kick out £1bn tax saving case on appeal
Accountancy and tax consultancy PricewaterhouseCoopers has lost a £1 billion tax management case designed to help 200 wealthy investors save £90 million. The Court of
US offshore tax disclosure FAQ
The US Internal Revenue Service (IRS) has collected more than $5 billion from taxpayers with overseas holdings thanks to a voluntary disclosure scheme. Now, the
HMRC amnesty lets wealthy taxpayers play catch-up
Higher rate taxpayers who have fallen behind with filing tax returns can come clean and pay what they owe under a new HM revenue &
FATCA tax laws will trap US courier customers
Thousands of US expats who use a US address as a staging post for online shopping may be trapped under the new tax laws. The
Spanish tax office targeting expats with offshore accounts, say experts
Expats in Spain who have undeclared bank accounts in tax havens are now being routinely pursued by the Spanish tax authority, warn personal finance experts.
Expat wins remitted income tax appeal against HMRC
Money spent from a joint bank account belongs to the person withdrawing the cash and not another signatory on the account, a tax tribunal has
IRS makes taxpayers an amnesty offer they can’t refuse
The US Internal Revenue Service (IRS) is inviting taxpayers living outside the States in from the cold by offering to write-off back taxes, fines and
Billionaire heiress rips up US passport in tax protest
Glitzy socialite and heiress Denise Rich has renounced her US citizenship in protest over increased taxes for the wealthy. In a move that pre-empts the
US raises $5 billion from offshore tax amnesties
An offshore tax amnesty run by the US Internal Revenue Service (IRS) has collected more than $5 billion of ‘lost’ tax. More than 33,000 taxpayers
US stretches FATCA net to two more countries
The US government has agreed Foreign Account Tax Compliance Act (FATCA) deals with Switzerland and Japan, bringing the number of agreements to seven in just
Managing money to save tax is not immoral, says the law
The row over the morality of investing in a tax management scheme aimed at working within the law to save tax highlights the current ‘anti
Take That face £480m tax management inquiry
The British taxman is working hard behind the scenes to close down tax management schemes for the rich and famous. HM Revenue & Customs has
HMRC probes TV comic’s £3.3m tax saving scheme
Funnyman Jimmy Carr is not so amused by rumours that he is the biggest investor in an offshore tax saving scheme. Comic Carr reportedly has
Tax lawyers urge IRS to dilute FATCA rules for insurers
US tax lawyers are urging the Internal Revenue Service (IRS) to water down some of the more costly elements of new tax enforcement laws for
Firms find FATCA too confusing
More than 200 legal, accounting and financial firms were asked how they were coping with FATCA – and more than 50% had no idea how
Clock ticking for taxpayers with undeclared Swiss accounts
HMRC has upped the ante for British taxpayers with holdings in Swiss bank accounts by increasing the one-off tax payment to 41% of their value
Expats in France needn’t fear France’s trust clampdown
A report on the Daily Mail’s ‘This is Money’ website claims the 200,000 British expats in France are in a frenzy as they face a