Emma Thompson's husband refuses to pay tax until HSBC staff are put in prison

City AM: Oscar-winning, actress Emma Thompson, will refuse to pay any tax until those involved in the HSBC tax evasion scandal are put in prison.

Full story: http://www.cityam.com/210272/emma-thompson-refuses-pay-tax-until-hsbc-staff-are-put-prison?

HMRC confirms HSBC Suisse bank data can now be shared

Gov.uk: HMRC's Chief Executive, Lin Homer, today announced in a Treasury Select Committee hearing that the French authorities have formally agreed that HMRC can share stolen HSBC Suisse customer account data with other law enforcement agencies and regulators, for the purposes of pursuing criminal offences.

Full story: https://www.gov.uk/government/news/hmrc-confirms-hsbc-suisse-bank-data-can-now-be-shared?

Gulliver's Swiss Account Opened Via Panama Puzzles Tax Experts

Bloomberg: The decision by Stuart Gulliver, the chief executive officer of HSBC Holdings Plc, to park money in Switzerland through a Panamanian company puzzled lawyers who didn’t see a clear tax benefit from the move.

Full story: http://www.bloomberg.com/news/articles/2015-02-23/gulliver-s-swiss-account-via-panama-puzzles-tax-experts

Bond Dickinson recruits Senior Wealth Adviser

Bond Dickinson: Leading UK law firm Bond Dickinson has appointed Greg Moss as a Senior Wealth Adviser to join Bond Dickinson Wealth Limited. A Chartered Financial Planner and Fellow of the Personal Finance Society, Greg will provide financial planning and investment advice to Bond Dickinson's Private Wealth clients. Greg's experience gained in the commercial banking and accountancy sectors will prove invaluable to the wealth management services Bond Dickinson offer.

Full story: http://www.bonddickinson.com/news/bond-dickinson-recruits-senior-wealth-adviser

Jacob Rees-Mogg MP says tax avoidance commonplace even in "most respectable families"

Bristol Post: Tax avoidance is commonplace amongst "even the most respectable families", according to North East Somerset MP Jacob Rees- Mogg.

Full story: http://www.bristolpost.co.uk/Jacob-Rees-Mogg-MP-says-tax-avoidance-commonplace/story-26075898-detail/story.html?

Bruce Forsyth: 'Inheritance tax is over the top'

Daily Telegraph: Sir Bruce Forsyth says 'inheritance should go to your children more than back to the country that you’ve lived in'.

Full story: http://www.telegraph.co.uk/news/celebritynews/11430651/Bruce-Forsyth-Inheritance-tax-is-over-the-top.html

HSBC CEO holds Swiss bank account

Private Client Adviser: The bank has reported a 17 per cent drop in profits after a 'challenging year'.

The chief executive of HSBC, Stuart Gulliver, "holds an account in Switzerland" which was used to hold bonus payments, the bank has confirmed.

Full story: http://www.privateclientadviser.co.uk/news/tax/hsbc-ceo-holds-swiss-bank-account

The Offshore Top 30: A healthy wave of optimism

The Lawyer: Offshore firms are thriving despite sustained media and political attacks on their domiciles’ reputation. Meanwhile, Asia’s significance is rising.

Full story: http://www.thelawyer.com/firms-and-the-bar/offshore-top-30/the-offshore-top-30-a-healthy-wave-of-optimism/3031729.article

Day-counting no longer the definitive test of Russian tax residence

STEP: Russia's Federal Tax Service (FTS) has issued a letter purporting to clarify the test for individual tax residence.

Full story: http://www.step.org/day-counting-no-longer-definitive-test-russian-tax-residence

Switzerland deal to help Italy combat tax evasion

BBC News: Italy and Switzerland have signed a deal to share information in a bid to tackle tax evasion.

Full story: http://www.bbc.co.uk/news/business-31595483?

HSBC scandal: George Osborne signals new tax evasion measures

The Guardian: Chancellor makes announcement on budget during heated exchanges with Ed Balls in House of Commons.

Full story: http://www.theguardian.com/politics/2015/feb/23/hsbc-scandal-george-osborne-tax-measures?

The rich people who say they are happy to pay their taxes

BBC News: The issue of tax avoidance is currently massively controversial. But what drives affluent individuals who could reduce their bills from the taxman, but choose not to?

Full story: http://www.bbc.co.uk/news/magazine-31517383

Think tanks attack mansion tax

ICAEW: The Centre for Policy Studies (CPS) and the Centre for Economics and Business Research (CEBR) have criticised Labour’s proposed mansion tax, describing it as “flawed” and “crude”.

Full story: http://economia.icaew.com/news/february-2015/think-tanks-attack-mansion-tax

PwC second most powerful global brand

ICAEW: In a report published by consultancy firm Brand Finance, PwC came second to Lego in its rankings of the world’s most powerful brands, and is one of only 12 companies to receive the top score of AAA+ on the 'Brand Strength Index' (BSI). 

Full story: http://economia.icaew.com/news/february-2015/pwc-second-most-powerful-global-brand

Mature debate needed over “vanilla tax avoidance”

Saffrey Champness: In response to the debate on where the line lies between “vanilla” and “abusive” tax avoidance, Saffery Champness calls for reasoned distinctions between tax planning that is legal and based upon common sense, and practices that fall foul of the law. 

Full story: http://www.saffery.com/news-and-events/press-releases/2015/16-feb-2015.aspx

FCA joins HSBC tax-dodging inquiry

BBC News: The Financial Conduct Authority (FCA) says it is looking into the HSBC bank over its Swiss tax-dodging scandal.

Full story: http://www.bbc.co.uk/news/business-31485934

"Tax dodgers" deserve harsher treatment than benefits cheats

ICAEW: More than 50% of people in the UK believe “tax dodgers” should be treated more harshly than “benefits cheats”.

Full story: http://economia.icaew.com/news/february-2015/tax-dodgers-should-be-treated-more-harshly-than-benefits-cheats

UK tax authority defends actions over HSBC Swiss accountholders

STEP: The UK tax authority, HM Revenue and Customs (HMRC), has issued a statement describing its enforcement measures against British holders of undeclared Swiss accounts at HSBC Private Bank. HMRC received a list of stolen HSBC client data in 2010. 

Full story: http://www.step.org/uk-tax-authority-defends-actions-over-hsbc-swiss-accountholders

George Osborne advised viewer on how to avoid inheritance tax on The Daily Politics show

The Independent: Footage of a fresh-faced George Osborne advising a caller on how to avoid paying tax has re-emerged, amid an ongoing political row over the HSBC tax scandal.

Full story: http://www.independent.co.uk/news/uk/politics/george-osborne-advises-viewer-on-how-to-avoid-inheritance-tax-on-the-daily-politics-show-10050347.html

Boodle Hatfield strengthens international Private Client team with partner appointment

Boodle Hatfield: Boodle Hatfield has strengthened its Private Client and Tax team with the appointment of Baker & McKenzie partner Salpy Kouyoumjian.

Full story: http://www.boodlehatfield.com/the-firm/news/boodle-hatfield-strengthens-international-private-client-team-with-partner-appointment.aspx

HMRC wins Eclipse court case to protect £635 million in tax

HMRC: The Court of Appeal today ruled in favour of HM Revenue and Customs against Eclipse Film Partners (No 35) LLP, protecting an estimated £635 million in tax.

Full story: http://www.mynewsdesk.com/uk/hm-revenue-customs-hmrc/pressreleases/hmrc-wins-eclipse-court-case-to-protect-ps635-million-in-tax-1118677

Tax evasion inquiries by foreign gov'ts soar by 45%

International Adviser: Britain’s tax office has seen a surge in foreign governments making information requests about tax evasion over recent years.

Full story: http://www.international-adviser.com/news/tax-regulation/tax-evasion-inquiries-by-foreign-govts-soar-by-45?

Level of Jersey income tax evasion 'unknown'

BBC News: It is impossible to know the full extent of income tax evasion in Jersey, the government has said.

Full story: http://www.bbc.co.uk/news/world-europe-jersey-31506387?

Capital gains tax charge on residential property

ICAEW: Most countries tax non-residents when they sell property located in their jurisdiction. However, in the UK, the rule has been that with few exceptions, only UK residents have had to pay capital gains tax (CGT) on their disposals. In these times of austerity it is not surprising that the UK government has now decided to adopt the same approach as most other tax jurisdictions.

Full story: http://www.ion.icaew.com/TaxFaculty/post/Capital-gains-tax-charge-on-residential-property?

Majority of accountants expecting pay rise

ICAEW: Confidence is highest in the south east of England (89% expecting a pay rise) and London (85%), above the midlands and north, where 71% are expecting to receive more money in 2015.

Full story: http://economia.icaew.com/news/february-2015/majority-of-accountants-expecting-pay-rise

Pinsent Masons granted permission to battle HMRC's tax powers in judicial review

The Lawyer: Pinsent Masons has won permission to bring a judicial review of HMRC’s use of accelerated payment notices (APNs) against its group action client, members of Ingenious Media’s film partnerships scheme.

Full story: http://www.thelawyer.com/news/practice-areas/tax-news/pinsent-masons-granted-permission-to-battle-hmrcs-tax-powers-in-judicial-review/3031502.article

Isle of Man hits back after Ed Miliband tax warning

BBC News: Ed Miliband failed to do his research about the Isle of Man before issuing a tax avoidance warning, Manx Treasury Minister Eddie Teare has said.

Full story: http://www.bbc.co.uk/news/world-europe-isle-of-man-31359304?

MPs knew of HSBC Swiss tax evasion claims in 2011

The Guardian: Transcripts show tax chief told committee that Revenue had disc with names of potential tax dodgers, contrary to ministerial denials of knowledge.


Full story: http://www.theguardian.com/news/2015/feb/10/mps-knew-of-hsbc-swiss-tax-evasion-claims-in-2011?

Top HMRC officials to be grilled over HSBC tax row

Daily Telegraph: Lin Homer, Edward Troup and Jim Harra - the HMRC’s top officials - will be questioned publicly by MPs on the Public Accounts Committee.

Full story: http://www.telegraph.co.uk/finance/personalfinance/tax/11404237/Top-HMRC-officials-to-be-grilled-over-HSBC-tax-avoidance-scandal.html

HMRC: Finding Scottish taxpayers 'more complex than predicted'

BBC News: The tax collection agency HMRC has said work to identify Scottish taxpayers is proving "more complex" than anticipated.

Full story: http://www.bbc.co.uk/news/uk-scotland-south-scotland-31194496

"Havens" hit back at Miliband

ICAEW: Bermuda and Gibraltar have hit back after Labour leader Ed Miliband sent a letter to heads of government in overseas territories and dependencies.

Full story: http://economia.icaew.com/news/february-2015/havens-hit-back-at-miliband

HMRC plans to scrap £100 fine on late tax returns

CityWire: HM Revenue & Customs (HMRC) is looking to scrap its £100 fine for late tax returns.

Full story: http://citywire.co.uk/new-model-adviser/news/hmrc-plans-to-scrap-100-fine-on-late-tax-returns/a797261?ref=new-model-adviser-latest-news-list

HMRC statement on offshore tax data story

HMRC: HM Revenue and Customs (HMRC) has issued a statement in response to recent media coverage on offshore tax data.

Full story: https://www.gov.uk/government/news/hmrc-statement-on-offshore-tax-data-story?

MPs to launch inquiry into HSBC tax scandal

BBC News: A panel of MPs will launch an "urgent" inquiry into tax evasion by wealthy clients of HSBC.

Full story: www.bbc.co.uk/news/business-31327042

UK family trusts fall by 300,000

Private Client Adviser: Increases in the special tax rate and dividend trust rate have contributed to the fall.

Full story: http://www.privateclientadviser.co.uk/news/trusts/uk-family-trusts-fall-300000

Withers enters formal alliance with Singapore firm KhattarWong in bid to grow Asia revenue

The Lawyer: Withers has agreed a formal alliance with Singapore-based firm Khattar Wong as part of its strategy to expand in Asia.

Full story: http://www.thelawyer.com/news/regions/asia-pacific-news/withers-enters-formal-alliance-with-singapore-firm-khattarwong-in-bid-to-grow-asia-revenue/3031293.article

Coutts appoints managing director for non-doms

International Adviser: Coutts has appointed a managing director for Western European, American, and resident non-domiciled clients.

Full story: http://www.international-adviser.com/news/people/coutts-appoints-managing-director-for-non-doms?

Celebs and sports stars named as film scheme investors

CityWire: David Beckham and Robbie Williams are among the 140 investors who secured the rights to save £26m in tax breaks.

Full story: http://citywire.co.uk/money/celebs-and-sports-stars-named-as-film-scheme-investors/a796019?

Non-doms to feel the squeeze as government takes more action

Real Business: Proposed new rules for non-domiciled people could lead to the "non-dom" status only being interesting to the ultra-wealthy. Is it time to say goodbye to the rich?

Full story: http://realbusiness.co.uk/article/29100-non-doms-to-feel-the-squeeze-as-government-takes-more-action?

HMRC seeks views on tax penalties

HMRC: HM Revenue and Customs (HMRC) is asking for views on how it might strengthen the effectiveness of its penalties regime.

Full story: https://www.gov.uk/government/news/hmrc-seeks-views-on-tax-penalties?

Tax self-assessment: 890,000 face fine for missing deadline

BBC News: As many as 890,000 people face a £100 fine for failing to file their online tax returns on time, HM Revenue and Customs (HMRC) has said.

Full story: http://www.bbc.co.uk/news/business-31090026