HMRC defeats tax avoidance scheme promoter for tenth time

FT Adviser: HM Revenue & Customs has won its tenth successive case against tax avoidance schemes promoted by NT Advisors.

Full story: https://www.ftadviser.com/tax-efficient-investments/2016/09/26/hmrc-defeats-tax-avoidance-scheme-promoter-for-tenth-time/ 

The rise of the family office threatens private banks

CityWire:The cost of running family offices has increased year-on-year, but leading industry figures say this is a reflection of the sector’s success and not a cause for concern.

Full story: http://citywire.co.uk/wealth-manager/news/the-rise-of-the-family-office-threatens-private-banks/a848624?section=wealth-manager

New private client partners at BDO

Accountancy Age: Top Ten accountancy firm BDO has gained two new private client partners, in Guildford and London.

Full story: https://www.accountancyage.com/2016/09/06/new-private-client-partners-at-bdo/

UK could lose billions by making wealthy non-doms pay more tax, experts claim

The Independent: The Government is risking more than £6bn of tax revenue by changing rules governing non-domiciled taxpayers, an international law firm has warned.  Pinsent Masons said that proposals to scrap non-dom tax status for people living in the UK long-term, due to come into force in April 2017, could prompt many wealthy residents to leave.

Full story: http://www.independent.co.uk/news/business/news/uk-lose-billions-non-dom-tax-rules-wealthy-say-experts-a7238156.html

Concerns raised for tax paying non-doms

Accountancy Age: UK based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy.

Full story: https://www.accountancyage.com/2016/09/12/concerns-raised-for-tax-paying-non-doms/

Non-doms pay ten times more in income tax than average taxpayer group

Pinsent Masons: UK-based non-domiciled taxpayers contributed £6.57 billion in income tax in 2014/15, an average of £56,589 per non-dom over the year compared to the average of £5,152 collected from the remainder of the population.

Full story: http://www.out-law.com/en/articles/2016/september/non-doms-pay-ten-times-more-in-income-tax-than-average-taxpayer-group/?