January 17th, 2012
The Isle of Man noted that the island may be used for egregious tax avoidance. It's good to see that KPMG admit that the Isle of Man is used for such schemes.
November 18th, 2011
Two weeks ago, the twenty most powerful leaders of the world headed to Cannes, France for the G20 Summit. It was the G20’s sixth meeting in a series of ongoing discussions about the world’s financial markets. While the meeting did not reach any concrete policy decisions on a host of important issues plaguing our financial world, some of the accomplishments of the meeting included a few pointed and poignant statements from some of the world’s most powerful. One of these statements came from Indian Prime Minister Manomohan Singh, who urged the world’s twenty most powerful countries to agree to...
July 12th, 2011
January 31st, 2011
H M Revenue & Customs has, as many will be aware, announced a new penalty regime for offshore disclosures
As they say:
These new penalties come into force from 6 April 2011 and apply to Income Tax and Capital Gains Tax.
The legislation can be found in Schedule 10 of Finance Act 2010.
The new penalty is an enhancement of the penalties for