Entries in Off-Shore (24)

Thursday
Jan302014

HMRC shuts down offshore tax avoidance plan

HMRC is set to collect around £400m in income tax and national insurance contributions, following a ruling that shut down a scheme whereby around 350 contractors and freelancers were collecting their income as forex loans.

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Tuesday
Jan282014

Tax agreement with Switzerland fails to deliver expected results

Back in January 2013, the government launched a new taxation agreement between the UK and Switzerland, aimed at UK citizens evading tax by ‘hiding’ money in Swiss bank accounts. However, in the first year of implementation the agreement has yielded only a quarter of the target money.

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Tuesday
Jan212014

The implications of FATCA

In April last year, the G5 nations – UK, France, Germany, Spain and Italy – entered a pilot agreement based on the FATCA model, whereby states agree to share information on taxpayers who are not resident in their home state.

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Monday
Jan202014

New online gambling regulations on the way to becoming law

The UK Gambling (Licensing and Advertising) Bill 2013-2014 has passed the House of Lords Committee stage and is well on the way to becoming law. Under the new regulations, any online gambling company operating in the UK’s jurisdiction will be required to hold a UK Gambling Commission license, regardless of the location of their operations base.

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Tuesday
Jan072014

New Year blues for Google

It’s not such a happy new year for Google as HMRC hits them with a backdated £24m tax bill, following an investigation into the business structure of the most popular search engine in the world.

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