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Community Events Cayman Islands Governor invites Birthday Honours nominations Persons who wish to recognise outstanding, innovative or self-sacrificing services and achievements by members of the local community have until 30th October to put forward names for Her Majesty the Queen’s…
Lawyers attack offshore tax evasion plans
By Vanessa Houlder From Financial Times Plans to stiffen the penalties for offshore tax evasion have been criticised by lawyers and tax advisers, who have warned they could end up criminalising people and companies who have unwittingly broken the rules….
UK plugs contractor tax loophole
By Adam Palin, Financial Times From Gulf News Those high income individuals using offshore trusts will have to pay up by month end. London: UK contractors have been warned to steer clear of loan schemes using offshore trusts that promise…
Challenges facing companies in the face of intense scrutiny
From Isle of Man Today Dozens of island companies are facing challenges from unprecedented scrutiny by global tax authorities, a leading legal expert has told Business News. Tom Maher, managing director of DQ Advocates said it is vital offshore service…
HMRC: The taxman cometh
By Tom Burgis and Vanessa Houlder From The Financial Times UK authorities vowing crackdown on tax dodgers to prove system does not favour the rich and famous Missing millions: protesters dressed up as UK chancellor George Osborne and former shadow…
The complexity of the ‘Google Tax’ risks creating new loopholes
By Richard Edgar Economics Editor From ITV uk That update I promised on the Google tax legislation published this morning…. It’s taken a while because I’ve had to wade through scores of pages and, as one expert told me: “It…
Anti-money laundering enforcement: warning for residential and commercial estate agents [UK]
By Jeremy Bouch Shoosmiths On 1 April 2014 HM Revenue & Customs (HMRC) took over from the Office of Fair Trading (OFT) as the regulator of residential and commercial estate agents for the purposes of anti-money laundering. The final act…
Cayman Islands accountholders must disclose financial affairs “within 30 days”, says HMRC
From Out-Law.com UK taxpayers with undisclosed income and capital gains in the Cayman Islands must provide HM Revenue and Customs (HMRC) with this information “within 30 days” or face “detailed investigation”, according to letters sent to accountholders by the UK…
HMRC looks to extend its reach to Cayman Islands
By Fiona Nicolson From FT Adviser HM Revenue & Customs has sent out another batch of ‘enabling’ letters to Cayman Island bank accounts holders in the UK to warn them about tax evasion. Sean Wakeman, tax investigations partner for tax,…
HMRC issues letters to Cayman Islands evaders
By Calum Fuller From Accountancy Age HM REVENUE & CUSTOMS has issued letters to individuals it believes hold bank accounts in the Cayman Islands, in order to encourage them to come forward and disclose any previously undeclared income and capital…
