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

Swiss Bank Under Tax Scrutiny in Germany

It isn't clear whether the investigation in Munich is widened to the bank, which didn't comment, or any employees.

Investec implicated in probes into the world’s largest tax fraud (Part 1)

Cum-ex is in the jargon of investment banking, a complex type of trading "strategy".

Fears for TIEAs: mutual exchange agreements want to rule the offshore world

This article considers how courts have approached TIEA requests in three offshore jurisdictions.

Aviation: Belgium to introduce a boarding tax

While the tax is intended to combat environmental pollution, it will clearly help curb the budgetary deficit Belgium is currently facing, as the new measure should raise €30 million.

UK Outlines Beneficial tax treatmen for Asset Holding Companies

Indicative of the potential for greater flexibility in its post-Brexit economic policy, the UK government has affirmed its commitment to implementing a competitive new regime, addressing the domestic tax challenges faced by managers forming intermediate e

Plastic packaging tax

It is important to note that even if the exemption applies, it is necessary to include exempt packaging

UK Patent Box ‘not providing effective incentive’ to life sciences SMEs

The latest ONS figures show that the value of relief claimed under the patent box has continued to increase, with a total of £1,129 million claimed for 2018-2019.

The public law jurisdiction of the UK First-tier Tribunal in VAT cases

Public law arguments must usually be raised by way of judicial review.

How America’s biggest law firm drives global wealth into tax havens

Baker McKenzie has been a pioneer in corporate tax dodging. It now acts for notorious tycoons, arms makers and authoritarian regimes operating in the shadow economy.

Mobile workers and not-so-mobile tax reliefs in the UK

This can be a very expensive mistake! The default position is in fact that general earnings from employment, earned in a year when an individual is tax resident in the UK are chargeable to tax in the UK upon receipt, unless specific reliefs apply and are

Saffery Champness experts listed in Spear's Tax & Trust Index

In the accountants and tax advisers section of the 2021 index partners James Hender and James Sykes (London), and Margi Campbell (Inverness) are recommended to the publication's readers.

The best tax and trust barristers for high-net-worth individuals

The barristers listed below have been selected by Spear’s for their proven excellence in the field

Tax Controversy Update: September 2021

This edition focusses on HMRC’s approach to Wealthy individuals, how this is changing and how your wealthy clients can better prepare for interactions with HMRC.

US indicts 6 foreign nationals, Swiss firm over USD 60 m tax fraud

Indictment Alleges that Defendants Conspired to Help U.S. Clients Evade Taxes on More Than $60 Million Hidden Offshore

Court of Appeal gives guidance on mutuality of obligation for employment tax status

The fact that the overarching contract is not a contract of employment and there is no obligation under the overarching contract to offer work, or to do work if offered, does not mean that the single engagement cannot be a contract of employment.

A Review of TJN's Financial Secrecy Index

This review seeks to understand better what led to Cayman being ranked first on the 2020 FSI

Overview of US Tax Provisions of Build Back Legislation Approved by House Ways & Means Committee

The legislation has a way to go before it is enacted into law but nonetheless provides an overview of changes likely to find their way into the Internal Revenue Code.

Complaints of delays in the UK’s first-tier tax tribunal

At present in a tax case there are four levels of appeal, with cases starting in the FTT, then progressing to the UT, Court of Appeal and Supreme Court, if permission to appeal is granted at each stage.

Gift planning opportunities for US persons in the UK

In any event, even under current law, the unified exemption amount will automatically decrease to $5 million (plus an inflation adjustment) come January 1, 2026.

Tax consequences of volume ownership

The new concept of “volumes” refers to a geometric space of three dimensions, geographically located at a well-defined place.