HMRC increases number of 'detentions' handed out to tax defaulters

Private Client Adviser: Tax expert predicts even more people will be referred to special monitoring programme in this financial year.

Full story: http://www.privateclientadviser.co.uk/news/tax/hmrc-increases-number-detentions-handed-out-tax-defaulters

HMRC ramps up tax avoidance crackdown programme

CityWire: HM Revenue & Customs (HMRC) has referred 30% more individuals and businesses who it thinks have not paid all the taxes they owe, to its specialist unit for ‘serious defaulters’, signalling a toughening up of its approach to tax avoidance.

Full story: http://citywire.co.uk/new-model-adviser/news/hmrc-ramps-up-tax-avoidance-crackdown-programme/a816114?ref=new-model-adviser-latest-news-list

Summer Budget announced

ICAEW: Chancellor George Osborne has announced that there will be a second Budget this year, on Wednesday, 8 July.

Full story: http://economia.icaew.com/news/may-2015/budget-mark-2-announced

Pennington Manches announces new head of Private Client

Pennington Manches: Clare Archer has been appointed as the new head of Penningtons Manches’ private client and tax practice, replacing Lesley Lintott who has stepped down as a partner after more than 40 years with the firm to become a senior counsel. 

Full story: http://www.penningtons.co.uk/news-publications/latest-news/penningtons-manches-announces-new-head-of-private-client/

Portugal's 'golden visa' trade for rich immigrants

DW: Portugal is selling EU residency permits to any rich foreigners willing to pay. The opposition calls them corrupt deals that encourage organized crime, but the government simply wants to lower the prices.

Full story: http://www.dw.de/portugals-golden-visa-trade-for-rich-immigrants/a-18306516

Non-doms remain under threat despite Labour defeat

International Adviser: Changing legislation and rising charges will mean that non-doms cannot rest on their laurels following the election of a majority Conservative government in the UK general election last week, warns law firm Stephenson Harwood.

Full story: http://www.international-adviser.com/news/1019461/-doms-remain-threat-despite-labour-defeat

Private client looks a picture of wealth

The Lawyer: Private client issues such as inheritance tax, wills and trusts are top of the political agenda right now, and lawyers should prepare themselves for change.

Full story: http://www.thelawyer.com/analysis/market-analysis/practice-areas/private-client-analysis/private-client-looks-a-picture-of-wealth/3034817.article?

Using pension to dodge IHT could land you tax bill

CityWire: Those planning to avoid inheritance tax by passing on their pensions could find themselves in hot water.

Full story: http://citywire.co.uk/money/using-pension-to-dodge-iht-could-land-you-with-tax-bill/a813400?ref=citywire-money-latest-news-list

Non doms and real estate portfolios: tax liability

Accountancy Live: Non doms need to review their real estate portfolios to mitigate their potential tax liability in a complex tax environment where increasingly the rules are changing and the government is attempting to clamp down on potential abuse.

Full story: https://www.accountancylive.com/non-doms-and-real-estate-portfolios-tax-liability?

Bank chief: Labour victory will spark exodus of wealthy

Daily Telegraph: A Labour government would spark an exodus of wealthy foreign investors and entrepreneurs if Ed Miliband scraps non-domicile rules and introduces a mansion tax, one of Britain’s most prestigious private banks has warned.

Full story: http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11577830/Bank-chief-Labour-victory-will-spark-exodus-of-wealthy.html

HMRC to take banks to court over tax avoidance on bonuses

CityWire: HM Revenue & Customs (HMRC) is set to take two banks to the Supreme Court over using alleged tax avoidance schemes to avoid paying big tax bills on bonuses for its staff.

Full story: http://citywire.co.uk/new-model-adviser/news/hmrc-to-take-banks-to-court-over-tax-avoidance-on-bonuses/a812766?ref=new-model-adviser-latest-news-list