UK's first new private bank in 30 years opens doors

CityWire: The UK's first private bank launch in 30 years has been given the regulatory green light.

Full story: http://citywire.co.uk/wealth-manager/news/uks-first-new-private-bank-in-30-years-opens-doors/a821558?ref=wealth-manager-new-latest-news-test1-list

Guernsey and Hong Kong named on tax haven blacklist

International Adviser: Guernsey, Hong Kong, and the British Virgin Islands have been named among the 30 most un-cooperative tax jurisdictions in a blacklist published by the European Commission.

Full story: http://www.international-adviser.com/news/1023240/guernsey-hong-kong-named-tax-haven-blacklist

Margaret Thatcher's papers donated in lieu of inheritance tax

The Guardian: Personal documents from her time as prime minister given to Arts Council in exchange for £1m reduction on inheritance tax bill.

Full story: http://www.theguardian.com/politics/2015/jun/18/margaret-thatchers-papers-donated-in-lieu-inheritance-tax

Zurich becomes most expensive city in Europe for expats

Expat Forum: Shanghai has become Asia Pacific’s most expensive location for expats and for the first time while Zurich, Switzerland has been named as the most expensive location in Europe.

Full story: http://www.expatforum.com/articles/cost-of-living/zurich-becomes-most-expensive-city-in-europe-for-expats.html

Baker Tilly renamed RSM as firms adopt global brand

Accountancy Age: One of the UK's largest accounting practices is to change its name as part of major image shake-up at the international network it joined last year.

Full story: http://www.accountancyage.com/aa/news/2412573/baker-tilly-renamed-rsm-as-firms-adopt-global-brand

Who will have to pay the new Scottish income tax?

STEP: HM Revenue & Customs has published technical guidance to determine who will have to pay the new Scottish rate of income tax starting in April 2016.

Full story: http://www.step.org/news/who-will-have-pay-new-scottish-income-tax

Berkeley Law appoints Taylor Wessing’s Tom Gauterin

Berkeley Law: Berkeley Law, the London-based, boutique legal and wealth advisory business, which specialises in advising high net worth private clients, announces the appointment of Tom Gauterin as a senior associate in its international tax and structuring team. Gauterin, who joins a growing team at Berkeley Law, specialises in trust and tax planning advice, primarily for clients whose affairs have an international dimension.

Full story: http://www.berkeley-law.com/press.php

HMRC pays out its highest ever amount to tax whistleblowers

CityAM: HMRC paid a record amount to tax informants in the year ending 31 March, City law firm RPC said today.
Full story: http://www.cityam.com/217889/hmrc-pays-out-its-highest-ever-amount-tax-whistleblowers

Pension tax relief changes could hit top earners

City A.M.: Wealth managers have warned that changes to pension tax reliefs, which could come as soon as next month's emergency budget, will hit the UK's top earners who should act soon.

Full story: http://www.cityam.com/217617/pension-tax-relief-changes-could-hit-top-earners

Lionel Messi faces tax fraud trial after appeal rejected again

BBC News: Argentina and Barcelona star Lionel Messi has moved a step closer to being tried for tax evasion after a Spanish high court rejected his latest appeal.

Full story: http://www.bbc.co.uk/news/world-europe-33084879

Creaseys, Tunbridge Wells, announce Simon Linley as new head of private client practice

Kent Online: An accountancy firm has announced a new senior role will be filled this week.

Creaseys, based in Tunbridge Wells, have made Simon Linley the head of private client practice – he will take up the position on Monday, June 8.

Full story: http://www.kentonline.co.uk/kent-business/county-news/senior-role-at-accountancy-firm-38134/

Foreign tax rules may be unfairly targeting US expats

Expat Forum: An organisation that represents American expats has called on the United States Treasury to amend tax regulations to exempt those living abroad from the Foreign Account Tax Compliance Act (FATCA).

Full story: http://www.expatforum.com/america/foreign-tax-rules-may-be-unfairly-targeting-us-expats.html

Actor loses tax relief claim as rented London flat was not 'exclusively' for work

STEP: The actor Tim Healy has lost his claim for tax relief on a flat he rented while working away from home. Healy, who lives in Cheshire, was cast in the West End musical Billy Elliott for nine months during the 2005-06 tax year. He decided to rent a flat in London for the period. The GBP875 weekly cost of renting the flat was comparable to that of staying in a hotel or similar accommodation, and also allowed him extra room for practice and coaching. He never intended to make London his home.

Full story: http://www.step.org/news/actor-loses-tax-relief-claim-rented-london-flat-was-not-exclusively-work

BVI gives UK non-doms four more months to opt out of automatic reporting

STEP: The British Virgin Islands (BVI) has allowed UK non-doms an additional four months to notify their intention to elect for the UK's Alternative Reporting Regime (ARR).

Full story: http://www.step.org/news/bvi-gives-uk-non-doms-four-more-months-opt-out-automatic-reporting

Tax profession just doesn’t get it

Accounting Web: It took a top flight lawyer to tell the tax profession what they didn’t want to hear: That they are out of touch with the zeitgeist on matters of tax avoidance.

Full story: http://www.accountingweb.co.uk/article/tax-profession-just-doesn-t-get-it/577349

Tax evader crackdown by HMRC widens to smaller cases

International Adviser: A sharp fall in the average length of custodial sentences given to criminal tax evaders is a clear signal that HM Revenue & Customs is increasingly targeting smaller cases, according to research by Pinsent Masons.

Full story: http://www.international-adviser.com/news/1020096/tax-evader-crackdown-hmrc-widens

Four more Swiss banks sign US non-prosecution deals

STEP: Another four Swiss private banks have signed non-prosecution agreements with the US Department of Justice (DoJ) over allegations that they helped their American clients evade tax.

Full story: http://www.step.org/news/four-more-swiss-banks-sign-us-non-prosecution-deals

Ecclestone fights £1 billion tax bill

Daily Telegraph: The head of Formula One, Bernie Ecclestone, could face a £1 billion bill to the tax man over a trust fund for his ex-wife and daughters.

Full story: http://www.telegraph.co.uk/news/uknews/law-and-order/11621126/Ecclestone-fights-1-billion-tax-bill.html

800 UK-born taxpayers claim non dom status

Accountancy Live: The non dom status adopted by those who wish to be considered as being truly domiciled in another jurisdiction to the UK, now numbers 800 among British-born taxpayers.

Full story: https://www.accountancylive.com/800-uk-born-taxpayers-claim-non-dom-status

HMRC waives £100 fine for late tax returns

CityWire: HM Revenue & Customs (HMRC) is to waive £100 fines for up to 890,000 people who failed to file their tax returns on time, according to reports.

Full story: http://citywire.co.uk/wealth-manager/news/hmrc-waives-100-fine-for-late-tax-returns/a817880?ref=wealth_manager_all_stories_list