US tax dodgers targeted as Swiss ease secrecy

The Independent: Switzerland has agreed to adopt new rules that would free its banks to reach settlements with the US authorities as they go after wealthy Americans suspected of using the European country's financial secrecy regime to evade taxes.

Full story: http://www.independent.co.uk/news/business/news/us-tax-dodgers-targeted-as-swiss-ease-secrecy-8636870.html

HMRC wins court battle over £190m tax avoidance scheme

CityWire: HM Revenue and Customs (HMRC) has won a legal battle against a tax avoidance scheme saving £190 million of tax. HMRC challenged a tax avoidance scheme promoted by Matthew Jenner of NT Advisors who pushed the scheme to 400 customers in 2006.

Full story: http://www.citywire.co.uk/new-model-adviser/hmrc-wins-court-battle-over-190m-tax-avoidance-scheme/a682690?ref=new-model-adviser-todays-news-list

Tax deal signed by nine more countries

The Guardian: the UK will be provided with a wealth of information about companies and individuals registered in well-known tax havens after nine more countries signed up to international tax protocols.

Full story: http://www.guardian.co.uk/business/2013/may/29/tax-deal-signed-nine-countries?

Tell clients to donate more in wills, charities group urges

Law Society Gazette: A charities group has called on solicitors to remind clients to consider leaving money to good causes in their will, after a trial scheme increased legacies left by £1m.

Full story: http://www.lawgazette.co.uk/news/tell-clients-donate-more-wills-charities-group-urges?

Withers chairmanship goes to NY partner as details of failed Speechly deal emerge

The Lawyer: Withers chairman Anthony Indaimo is to stand down in July with the firm naming New York-based Ivan Sacks as his successor.

Full story: http://www.thelawyer.com/firms/withers-chairmanship-goes-to-ny-partner-as-details-of-failed-speechly-deal-emerge/3005261.article?

Withers/Speechly merger: Why the tie-up talks unravelled

The Lawyer: A merged Withers and Speechly Bircham would have scaled The Lawyer’s UK 200 with a turnover of about £170m, and created one of the world’s largest specialist private client teams. So what went wrong?

Full story: http://www.thelawyer.com/news-and-analysis/practice-areas/private-client/withers/speechly-merger-why-the-tie-up-talks-unravelled/3005251.article?

UK Swiss account holders urged to meet May deadline

Accountancy Live: Time is running out for UK holders of Swiss bank accounts who face being slapped with massive financial penalties if they fall foul of the UK/Swiss Tax agreement.

Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?channelId=-601014&contentId=2590761

Baby boomers drive rise of 'millionaire households'

Daily Telegraph: Government policies in areas such as tax and savings are inconsistent and reinforce wealth inequalities rather than narrow them, according to experts.

Full story: http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/10078935/Baby-boomers-drive-rise-of-millionaire-households.html

Accountants work longer hours than lawyers

Accountancy Live: Accountants are working longer hours than two years ago but still have a better worklife balance and are more loyal than other professions, according to a survey by Robert Walters.

Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?channelId=-601014&contentId=2601123

Withers and Speechly vote against merger

The Lawyer: Withers and Speechly Bircham have called off merger talks following votes at both firms.

In a joint statement, the firms said: “Following detailed discussions between the management and partnerships of Withers and Speechly Bircham, both sides have now concluded that a merger would not be in the best interests of both firms and have agreed not to pursue this further. The talks have enhanced the respect that both firms have for each other.”

Full story: http://www.thelawyer.com/firms/withers-and-speechly-vote-against-merger/3005172.article?

Treasury raises extra £1.3 billion from income tax in first month of 45p rate

Daily Telegraph: George Osborne raised an extra £1.3 billion from income tax in the first month since he cut the tax rate to 45p for higher earners, according to new figures.

Full story: http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/10074285/Treasury-raises-extra-1.3-billion-from-income-tax-in-first-month-of-45p-rate.html

Taxes on some wealthy French top 100 percent of income

The Guardian: More than 8,000 French households' tax bills topped 100 percent of their income last year, the business newspaper Les Echos reported on Saturday, citing Finance Ministry data.

Full story: http://www.guardian.co.uk/business/feedarticle/10798302

Kennedys, Farrers sign outsourcing deals as firms keep close eye on costs

Legal Week: Kennedys and Farrer & Co have become the latest law firms to address their outsourcing arrangements as firms continue to grapple with the issue of back office costs.

Full story: http://www.legalweek.com/legal-week/news/2269249/kennedys-farrers-sign-new-outsourcing-deals-as-firms-keep-close-eye-on-costs

Earl's daughters attempt clawback of lifetime gifts

STEP Journal: The children of the late Lord Lambton, Earl of Durham, are disputing his extensive estate in north-east England. Antony Lambton died in 2006, leaving his entire estate to his only son Edward, known as Ned. However, the late earl had lived in self-imposed exile in Italy for the last thirty years of his life, largely because of a sex scandal that caused him to feature prominently in the pages of the News of the World.

Full story: http://www.stepjournal.org/news/news/secondary_news/earls_daughters_attempt_clawb.aspx?link=journalTitle

League table of Britain's highest tax bills

Daily Telegraph:  A study shows the boroughs where average income tax bills are as high as £16,100 compared to an average of £4,398.

Full story: http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/10070606/League-table-of-Britains-highest-tax-bills.html

Consultant hire: David Ainslie at Pitmans LLP

Law Society Gazette: David Ainslie is now Consultant - Private Tax and Family Business at Pitmans LLP. David Ainslie was previously Partner at Stone King LLP.

Full story: http://www.lawgazette.co.uk/movingon/consultant-hire-david-ainslie-pitmans-llp

West Ham boss and celebrities caught in alleged £125m tax fraud

CityWire: Celebrities, bankers and football stars have been caught up in an alleged £125 million tax fraud involving film investment plans.  West Ham United manager Sam Allardyce and Princess Diana’s former butler Paul Burrell are among those who put money into the schemes.

Full story: http://citywire.co.uk/wealth-manager/west-ham-boss-and-celebrities-caught-in-alleged-125m-tax-fraud/a680586?ref=wealth-manager-home1-list

Cameron urges on Crown dependencies over tax info exchange

LowTax.net: "There is no point in dealing with tax evasion in one country if the problem is simply displaced to another," David Cameron has claimed in a letter to the leaders of the UK's Crown Dependencies and Overseas Territories.  Writing to the heads of government in Bermuda, the British Virgin Islands, the Cayman Islands, Gibraltar, Anguilla, Montserrat, Turks and Caicos, Jersey, Guernsey, and the Isle of Man, the UK Prime Minister stresses the importance of the fight against "the scourge of tax evasion and aggressive tax avoidance."

Full story: http://www.lowtax.net/asp/story/front/Cameron_Urges_On_Crown_Dependencies_Over_Tax_Info_Exchange____60809.html?

Withers and Speechly settle on proposed name ahead of merger votes

Legal Week: Withers and Speechly Bircham are to vote next week on a potential merger which could create a UK top 25 law firm known as Withers Speechly Bircham (WSB).

Full story: http://www.legalweek.com/legal-week/news/2268840/withers-and-speechly-bircham-settle-on-proposed-name-ahead-of-merger-votes?WT.tsrc=Email&WT.mc_id=694&utm_source=Newsletters&utm_medium=Email&utm_campaign=LW_Daily

Model taxpayer charter to promote greater fairness in taxation across the world

STEP Journal: Three professional bodies representing more than half a million tax advisors worldwide have produced a Model Taxpayer Charter of taxpayer rights and responsibilities intended as a blueprint for what a good tax system should contain.

Full story: http://www.stepjournal.org/news/news/main_story/model_taxpayer_charter_to_prom.aspx?link=journalTitle

HMRC analyses data to catch offshore tax evaders

Computing.co.uk: HM Revenue & Customs (HMRC) has announced that it is working with tax administrations from the United States (the IRS) and Australia (the ATO) on analysing data to reveal "extensive use of complex offshore structures to conceal assets by wealthy individuals and companies".

Full story: http://www.computing.co.uk/ctg/news/2267742/hmrc-analyses-data-to-catch-offshore-tax-evaders?

Guernsey chief minister commits to tax transparency

Accountancy Live: Guernsey’s chief minister has defended the island’s track record on tax transparency ahead of G8 and G20 meetings later this year which will be looking at ways to crack down on tax avoidance.

Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?channelId=-601014&contentId=2581635

HMRC names and shames tax defaulters

Accountancy Live:  HMRC has published its second list of ‘deliberate tax defaulters’, who have been subject to an investigation and were found to owe more than £25,000 in tax.

Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?channelId=-601043&contentId=2581631

Osborne: Offshore tax havens 'must crackdown on illegal evasion'

Daily Telegraph: The Chancellor has demanded Britain’s offshore tax havens “do more” to crackdown on illegal evasion as he sought to strengthen a potentially ground-breaking deal to stamp out the criminal activity.

Full story: http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/10051346/Osborne-Offshore-tax-havens-must-crackdown-on-illegal-evasion.html

US, UK, Australia to provide tax information to others

LowTax: It has been announced that the tax administrations from the United States, Australia and the United Kingdom have developed a plan to share tax information involving trusts and companies holding assets on behalf of residents in jurisdictions worldwide.

Full story: http://www.lowtax.net/asp/story/front/US_UK_Australia_To_Provide_Tax_Information_To_Others____60731.html?

Russian oligarch loses £40m London home to ex-wife

Daily Telegraph: The Russian oligarch Vladimir Slutsker has lost a legal battle with his ex-wife Olga for a half share of the £40m London home they bought using an offshore trust.

Full story: http://www.telegraph.co.uk/news/uknews/10030788/Russian-oligarch-loses-40m-London-home-to-ex-wife.html

Property sellers warned on HMRC CGT campaign

Accountancy Live: An HMRC campaign to identify UK taxpayers who have undeclared capital gains on property disposals may have a wider impact that anticipated, according to accountancy firm Watson Buckle.

Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?channelId=-601014&contentId=2564774

Tax havens open doors to HMRC

Sky News: The crackdown on tax evasion spreads among more British territories as the Treasury moves to boost its coffers.

Full story: http://news.sky.com/story/1085917/tax-havens-open-doors-to-hmrc

HMRC 'getting nastier' with taxpayers who dare to complain

Daily Telegraph: HM Revenue & Customs is taking a more robust stance with those raising objections about its conduct, by rejecting a far greater proportion of these complaints.

Full story: http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/10032936/HMRC-getting-nastier-with-taxpayers-who-dare-to-complain.html

Taylor Wessing recruits Speechly partner in Asia-focused private client push

Legal Week: Taylor Wessing has recruited private client partner Sanjvee Shah from Speechly Bircham as part of a bid to develop the firm's practice in regions including the Middle East, Southeast Asia and India.

Full story: http://www.legalweek.com/legal-week/news/2265650/taylor-wessing-takes-speechly-partner-in-asia-private-client-push?WT.tsrc=Email&WT.mc_id=694&utm_source=Newsletters&utm_medium=Email&utm_campaign=LW_Daily

HMRC's 2011/12 tax take figures rise slightly

Accountancy Live: Statistics published by HMRC show that there has been little change in the amounts raised through tax over the past year.

Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?channelId=-601043&contentId=2563449