tax

Many offshore bank account holders could risk penalties for ignoring HMRC's New Disclosure Opportunity (NDO) its poor promotion of the tax amnesty, says leading accountancy firm, PKF.

No more than a dozen International Finance Centres (IFC) will still be around in a decade's time as offshore jurisdictions come under increasing attack, according to tax experts.

Customers with Isle of Man (IOM) bank accounts will no longer be able to withhold their tax details from the powers that be after the island today agreed to the automatic exchange of information within the EU.

International businesses and entrepreneurial corporates are been drawn to the Isle of Man from the UK after the Chancellor's Budget tax changes have "unsettled" non-doms, according to the Isle of Man Government.

An Isle of Man Treasury working party will investigate whether automatic exchange of tax information should be introduced on the island. Currently tax information is shared only upon request.

The Government could increase the rate of inheritance tax (IHT) in next week's budget to help plug its growing deficit, according to Standard Life estate planning specialist Julie Hutchison.

Employers can reap cost savings from pension salary sacrifice in under a year if the employee contributions are in excess of £500,000 per year, Watson Wyatt says.

Baby boomers have less than one year to decide if they wish to take early retirement, or they could end up waiting an extra five years to leave work, says Killik & Co.

Broker John Charcol is urging the Government to temporarily axe Stamp Duty in the Budget later this month.

A second draft bill filed in Washington designed to deter tax evasion but which includes less draconian measures than its predecessor would be "more favourable" to Jersey.