- Managers of Wealth - Legal - Wealth, private banking and asset management news and opinion

Hidden US Estate Tax Risks for Bermuda-Based Individuals and Families

For Bermuda-based individuals and families with even a modest allocation to US equities or real property, this disparity can give rise to material and unintended exposure within a globally managed portfolio.

Taxpayer successfully challenges HMRC information notice in long-running transfer pricing row

Jake Landman, a tax disputes expert with Pinsent Masons, explained how important the case was, given there is still little UK case law relating to transfer pricing disputes.

HMRC makes surprise change to guidance on VAT recovery on pension investments costs

Bryn Reynolds, a tax expert with Pinsent Masons, said this would likely reduce tax recovery options for employers.

Guernsey Royal Court blesses decision to onshore trusts to pay more tax

A lot has been written about the so-called "great wealth transfer" and with it a likely change in attitude to wealth holding.

Oil and gas firms hit first as UK chancellor amends PE tax regime

Under current rules, companies can choose to exempt their overseas PE profits and losses

New HMRC registration rules raise questions for in-house tax teams

Under the new Finance Act rules, tax advisers face a ban on “interacting with HMRC in relation to the tax affairs of a client” unless either that adviser is registered, or specific exceptions apply.

Summary of Guernsey taxation

Guernsey does not levy a net wealth/net worth tax.

VAT rule change confirmed over education grants after UK Court of Appeal ruling

“Partial exemption frameworks will need updating as will, potentially, capital goods schemes.”

Upper Tribunal rules in taxpayer favour in oil and gas succession dispute

The case involved two companies that were historically part of the BP group that were involved in the operation of the CATS pipeline in the North Sea.

Tax Notes International – Statutory Codification of Foreign Entity Tax Classification in Ireland

It marks the first time that Irish legislation has dealt directly with the tax transparency of foreign entities.

China tightens tax concession for HK intermediary holdcos

Under China’s Enterprise Income Tax Law, dividends paid by a PRC resident enterprise to a foreign shareholder are generally subject to 10% WHT.

‘Disappointing’ UK tax ruling will hit projects across sectors, say experts

The Supreme Court was not persuaded by the fact that the accounting profit calculation had reflected that a significant amount had been spent on the surveys and studies.

Finding a tax smart approach to maximise your charitable impact

Implementing planning to secure the reduced rate of IHT can be highly effective from a tax perspective, whether via the drafting of the original Will or a post-death variation.

VAT Update in The Bahamas

Consumers will no longer pay VAT on unprepared foods purchased

Barbados Strengthens Ties with Hong Kong with new Double Tax Agreement

From a business perspective, DTAs go beyond just being technical tax tools, they are vital enablers for international investment for both named jurisdictions.

Pre-IPO US tax planning for US founders of companies seeking to list in Hong Kong

US tax residents remain subject to US federal income tax on worldwide income regardless of residence

Charitable gifts in Wills – the 'hidden' new inheritance tax ('IHT') trap

Wills which contain such gifts should therefore be reviewed and changed, either to specify named registered charity recipients or to include a time limit for making the selection.

Considerations in Tax Refund Litigation

They outline the key challenges taxpayers are facing

Irish Lessors fly free of Indian tax

The IATA's ruling resulted in greater certainty of application of the IIDTT to leasing arrangements between Irish companies and Indian lessees

Paul Hastings Adds Premier Tax Partner From Band 1 Practice in London

Paul Hastings LLP announced today that Alicia Osei has joined as a tax partner in London, further strengthening the firm’s London and global tax platform and expanding its capabilities to guide clients through complex strategic M&A, private equi