US amnesty for Swiss banks now has at least 19 takers

STEP: Nineteen Swiss banks have now announced they are taking up the US Department of Justice's offer of immunity from prosecution.

Full story: http://www.step.org/us-amnesty-swiss-banks-now-has-least-19-takers

Britain's highest paid bankers in line for a £100m income tax cut after top rate drops to 45p

The Independent: Britain’s highest paid bankers are on course to receive an income tax cut of almost £100m this year following George Osborne’s decision to reduce the top rate from 50p to 45p.

Full story: http://www.independent.co.uk/news/business/news/britains-highest-paid-bankers-in-line-for-a-100m-income-tax-cut-after-top-rate-drops-to-45p-9023004.html

HMRC adopts online residence tool

Accountancy Age: An online tool has been launched to help people determine their residence status for tax purposes, HM Revenue & Customs has announced.

Full story: http://www.accountancyage.com/aa/news/2320315/hmrc-adopts-online-residence-tool?

Latest HMRC Trusts & Estates newsletter

ICAEW: HMRC has published the latest Trusts & Estates newsletter, aimed at trusts and estates practitioners.  

Full story: http://www.ion.icaew.com/TaxFaculty/post/Latest-HMRC-Trusts---Estates-newsletter-C7A25A2AB5434CB99EF780285A5BA0D0?

Boyes Turner pulls out of tripartite merger talks

The Lawyer: Reading-based Boyes Turner has pulled out of the tripartite merger talks with Blake Lapthorn and Morgan Cole.

Full story: http://www.thelawyer.com/analysis/the-lawyer-management/merger-watch/boyes-turner-pulls-out-of-tripartite-merger-talks/3014283.article

'Top ten' aim for new PKF UK network

Accountancy Age: Creating a ‘top ten' PKF-branded amalgam of UK practices is a key target for the international network.

Full story: http://www.accountancyage.com/aa/interview/2319808/top-ten-aim-for-new-pkf-uk-network?

Lawrence Graham and Wragges confirm merger creating £170m firm

Legal Week: Lawrence Graham and Wragge & Co are to merge, with the combined firm set to go live under the banner of Wragge Lawrence Graham & Co from 1 May 2014.

Full story: http://www.legalweek.com/legal-week/news/2318456/lawrence-graham-and-wragges-confirm-merger-creating-gbp170m-firm?utm_term=&utm_content=Lawrence%20Graham%20and%20Wragges%20confirm%20merger%20creating%20%C3%82%C2%A3170m%20firm&utm_campaign=News%20Alert%20-%2011%20December&utm_medium=Email&utm_source=Daily

Accountants approved to enter legal sector

Law Society Gazette: The Institute of Chartered Accountants in England and Wales (ICAEW) is set to be granted the power to license alternative business structures by the end of this week.

Full story: http://www.lawgazette.co.uk/practice/accountants-approved-to-enter-legal-sector/5039168.article?

David Cameron hints he wants to cut the top rate of income tax to 40 per cent

The Telegraph: David Cameron has revealed that he would ultimately like to cut the top rate of income tax to 40 per cent.

Full story: http://www.telegraph.co.uk/news/politics/10509537/David-Cameron-hints-he-wants-to-cut-the-top-rate-of-income-tax-to-40-per-cent.html

HMRC's 'expat' team recoups record tax from highly-paid foreign bankers and hedge fund managers

Pinsent Masons: The 'expat' team within HM Revenue and Customs (HMRC) took a record £121 million in additional tax from highly-paid foreign workers living in the UK last year, according to figures obtained by Pinsent Masons, the law firm behind Out-Law.com.

Full story: http://www.out-law.com/en/articles/2013/december/hmrcs-expat-team-recoups-record-tax-from-highly-paid-foreign-bankers-and-hedge-fund-managers/?

Criticism forces Treasury to postpone splitting of IHT nil-rate band

STEP: The 2014 Finance Bill will not include HMRC’s plan to split a single inheritance tax (IHT) nil-rate band among all trusts set up by an individual.

Full story: http://www.step.org/criticism-forces-treasury-postpone-splitting-iht-nil-rate-band

Latest new hire by Thrings reinforces integrated approach to clients

Thrings: Top law firm Thrings has further strengthened its offering to clients who have potentially complex needs around succession, estates and tax planning, with the recruitment of Partner, Victoria Smyth.

Full story: http://www.thrings.com/site/news_events/thrings_news/new_hire_victoria_smyth.html

Bring back 50% tax rate - Kinnock

BBC News: A future Labour government should reintroduce the 50% top rate of income tax, Lord Kinnock has said.

Full story: http://www.bbc.co.uk/news/uk-politics-25289743?

Swiss bank Valiant says will participate in U.S. tax probe

Reuters: Valiant Holding AG said it would come forward to work with U.S. officials in a crackdown on wealthy Americans evading taxes through hidden offshore accounts.

Full story: http://uk.reuters.com/article/2013/12/09/tax-switzerland-idUKWEB00FIX20131209?rpc=401&feedType=RSS&feedName=swissMktRpt&rpc=401

Mazars aims to double size in Scotland

Accountancy Age: Mazars intends to build on the recent acquisition of eight partners from RSM Tenon's former Edinburgh office by doubling its business in Scotland, the firm's Scotland managing partner has said.

Full story: http://www.accountancyage.com/aa/news/2317866/mazars-aims-to-double-size-in-scotland?

Autumn Statement: Capital gains tax on foreigners to be imposed from April 2015

The Independent: The Chancellor has launched what was quickly dubbed an “oligarch tax” by slapping capital gains tax on foreigners when  they sell UK properties.

Full story: http://www.independent.co.uk/news/business/news/autumn-statement-capital-gains-tax-on-foreigners-to-be-imposed-from-april-2015-8985525.html

AS 2013: Largest package of measures to tackle avoidance

Accountancy Live: George Osborne has announced the government is to clamp down on tax avoidance by business and those who embark on aggressive schemes in a personal capacity.

Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?channelId=-601014&contentId=2861978

Smith & Williamson hires Morgan Stanley veteran as partner

CityWire: Smith & Williamson has appointed Morgan Stanley veteran Michael Pagliari as investment manager. Pagliari spent 27 years at Morgan Stanley, where he was an executive director since 2006 managing multi-asset class team advising private clients. During his earlier years at the firm he specialised in fixed interest and related products for institutional clients. Pagliari is the fourth partner to join the investment division in recent weeks. In his new capacity he will manage funds for private clients and acts as a trusted adviser to family offices and others in the ultra-high net worth sector.

Full story: http://citywire.co.uk/wealth-manager/smith-and-williamson-hires-morgan-stanley-veteran-as-partner/a722872?ref=wealth-manager-latest-news-list

New tax policy director for CIOT, ATT

Accountancy Live: The former president of CIOT, Patrick Stevens, has been appointed tax policy director by CIOT and the Association of Taxation Technicians (ATT).

Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?channelId=-601014&contentId=2861973

France says tax cheats come clean

BBC News: More than 8,500 French applicants have admitted to hiding funds abroad after a lower penalty for those who came forward was introduced.

Full story: http://www.bbc.co.uk/news/business-25183616