Vestra Wealth: Thousands of UK citizens could be caught under FATCA

Investment Week: Thousand of 'accidental Americans' could be unwittingly caught by the Foreign Accounting Tax Compliance Act (FATCA) from July, leaving them exposed to US tax liabilities.

Full story: http://www.investmentweek.co.uk/investment-week/news/2336363/vestra-wealth-thousands-of-uk-citizens-could-be-caught-under-fatca?

No personal tax road map, says Gauke

Economia: The government has definitively ruled out the idea of producing a road map for personal income tax along the lines of the one produced for corporate tax.

Full story: http://economia.icaew.com/news/march-2014/no-personal-tax-road-map-for-individuals

Reynolds portrait was ‘plant’ for tax purposes

Solicitors Journal: Portrait was 'wasting asset' despite rising value and exempt from CGT.  A portrait by Sir Joshua Reynolds of a young South Sea islander could be regarded as 'plant and machinery' and was not liable for capital gains tax, the Court of Appeal has ruled.

Full story: http://www.solicitorsjournal.com/news/commercial/tax/reynolds-portrait-was-%E2%80%98plant%E2%80%99-tax-purposes

Expat tax break threatened, spelling bad news for pensioners

Daily Telegraph: The UK government’s assault on the finances of British expats continues as it threatens to review their personal tax allowances.

Full story: http://www.telegraph.co.uk/finance/personalfinance/expat-money/10719777/Expat-tax-break-threatened-spelling-bad-news-for-pensioners.html

Inheritance tax will make £800m more than expected, says OBR

Daily Telegraph: Cameron has pledged to raise the death tax threshold, but the official estimate of the tax take has risen £800m - in just three months.

Full story: http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/10719648/Inheritance-tax-will-make-800m-more-than-expected-says-OBR.html

EC adopts directive over tax fraud

Economia: The European Council has adopted a directive over exchanging information on savings incomes in a bid to clamp down on tax fraud and evasion.

Full story: http://economia.icaew.com/news/march-2014/ec-adopts-directive-over-tax-fraud

Collyer Bristow LLP expands private client tax capability with new partner hire

Collyer Bristow: London-based law firm Collyer Bristow LLP is pleased to announce that it has recruited experienced international private client tax specialist William Hancock from Speechly Bircham where he has been a partner since 1999. William is the latest in a series of partner-level hires to join the firm in recent months. His appointment commences on 17 March 2014.

Full story: http://www.collyerbristow.com/Default.aspx?sID=53&cID=1291&ctID=43&lID=0&filter=1

Sharia law for wills - and then what?

Telegraph: The Law Society’s decision to issue a practice note to solicitors who may be interested in drafting ’sharia compliant’ wills for their Muslim clients is shocking.

Full story: http://www.telegraph.co.uk/news/religion/10717676/Sharia-law-for-wills-and-then-what.html

David Cameron hints at cut to inheritance tax

Evening Standard: David Cameron today revived his pledge to cut inheritance tax in the latest sign of a tax-cutting manifesto.

Full story: http://www.standard.co.uk/news/politics/david-cameron-hints-at-cut-to-inheritance-tax-9212207.html

HMRC new account raiding powers are “draconian”

Accountancy Age: New Powers which will allow HMRC to raid bank accounts are "draconian" and could lead to an abuse of power suggest a tax reform group and ACCA.

Full story: http://www.accountancyage.com/aa/news/2335876/hmrc-new-account-raiding-powers-are-draconian?

New HMRC powers raise concern

Economia: New measures announced in the Budget yesterday will mean HMRC will be able to access individual bank accounts and recover tax debts directly. The new powers, expected to be in place by 2015, will also allow the Revenue to access the bank accounts of anyone owing upwards of £1,000 in unpaid tax bills, in an attempt to counter tax-avoidance. 

Full story: http://economia.icaew.com/news/march-2014/new-hmrc-powers-raise-concern

Londoners to pay billions more in death taxes and stamp duty

Evening Standard: Londoners are likely to bear the brunt of the bill as the Treasury rakes in a staggering £37 billion more in stamp duty and inheritance tax over the next five years, it emerged today.

Full story: http://www.standard.co.uk/news/politics/londoners-to-pay-billions-more-in-death-taxes-and-stamp-duty-9205096.html

Barcelona sues tycoon's daughters for stashing masterpieces

The Telegraph: Four women written out of the will of their father, industrialist Julio Muñoz Ramonet, face legal action for hiding the most important art in his collection.

Full story: http://www.telegraph.co.uk/news/worldnews/europe/spain/10712046/Barcelona-sues-tycoons-daughters-for-stashing-masterpieces-bequeathed-to-city.html

Blake Lapthorn and Morgan Cole merger to form new top 50 firm

Legal Week: Blake Lapthorn and Morgan Cole are to merge, creating a new UK top 50 firm with revenues of £72m.

Full story: http://www.legalweek.com/legal-week/news/2335365/blake-lapthorn-and-morgan-cole-set-to-merge-to-create-uk-top-50-firm

Swiss Banks Committed To Tax Transparency

LowTax.net: Thomas Sutter, Head of Communications at the Swiss Bankers Association (SBA), has reiterated the Swiss banking industry's commitment to enforcing tax compliance and adopting the automatic exchange of information (AEI) as the new international standard.

Full story: http://www.lowtax.net/news/Swiss-Banks-Committed-To-Tax-Transparency_64105.html?