tax

Freedom SIPP has been wound up by the High Court, leaving its clients facing up to £66m in tax charges.

On my daily commute, I tend to alternate between a good book and that all too rare a beast, the good television boxed set (there is, I have found after all, a limit to how many times I can watch The Sopranos).

Db x-trackers has gained distributing fund status for 63 ETFs, meaning any gains made on the disposal of these products by individuals would be eligible for capital gains tax at 18%.

Brewin Dolphin has admitted it overstated its profits for 2008 by £4.2m, meaning its pre-tax profit for that year was £32m rather than the £36.2m it had previously reported.

UK building societies, including the Nationwide, and former mutuals have become the latest HMRC targets in a crackdown on offshore accounts, according to newspaper reports.

The Internal Revenue Service wants to learn who advised wealthy Americans to evade taxes by putting their money in offshore banks, US tax experts say.

Many ill-informed British citizens who have moved outside the UK are getting a surprise tax bill from HMRC as well as their new home.

Bank bosses who allow their firms to devise schemes to help customers avoid paying tax could face sanctions from the Financial Services Authority, according to The Guardian.

LV= says IFAs should make themselves aware of the tax implications of guaranteed annuities, or their clients' tax planning precautions could be affected.

Guernsey and Jersey intend to follow the Isle of Man's move in committing to automatic exchange of information, but concerns of a level playing field prevail.