Tuesday, January 21, 2020
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In addition to the latest headlines on tax changes and developments, the Money International tax writers are also providing the tips, deadlines and scams you need to know to make the most of your finances.

News includes information on the latest FACTA developments from the USA, HMRC from England, and other updates from leading financial centers.

We’ll also keep you informed on sanctions and developments taking place within smaller countries – so you can understand the nuances which shape the tax landscape.

In essence, we provide you with the breaking tax news you need to understand how to protect and grow your wealth – wherever you are in the world.

Updates and analysis on the latest tax news, including economic advancements, FATCA and HMRC developments and general international tax information. Including the best methods of tax efficient saving and earning, and any important changes to legislation.

From July 1, 2014, the world is divided into two distinct halves – those confirming to the US Foreign Account Tax Compliance Act (FATCA) and those who are not. The United Nations officially lists 229 nations in the world. According to the US Treasury, 112 are either signed up FATCA...
Millions of retirement savers jammed help lines to find out how to claim a tax refund on money taken from their pensions under the new flexible access rules. The cash chaos has lit up switchboards at pension providers, HMRC and the new free advice service Pension Wise. On the first day,...
Families worried about ever increasing house prices and the impact of inheritance tax on their estates often consider gifting property to children. But the rules and financial implications of signing a home over to someone else can be complicated and costly. Although homeowners or buy to let landlords can sign over...
Landlords do not have to pay capital gains tax at high rates if they are prepared to reinvest their gains for a short time. As part of former Chancellor George Osborne’s tax grab from landlords, he set CGT rates for buy to let property disposals at a basic rate of...
The US Foreign Account Tax Compliance Act (FATCA) could be the deciding factor in the tug of war over whether The Crimea is part of Russia or Ukraine. President Barak Obama and his European Union allies – especially Britain - are already threatening savage economic sanctions like booting Russia out...
Three ways to avoid the 55% pensions tax facing 360,000 UK earners
From April, the total, tax-free amount savers can keep in their pension pot will be lowered from GBP 1.5 million to GBP 1.25 million. Named the lifetime allowance (LTA), it sets the limit on the amount of tax relief you can receive before paying taxes. According to HM Revenue and Customs...
Wealth managers claim the government’s campaign to outlaw aggressive avoidance is frightening ordinary taxpayers from taking legal tax planning advice. Prime Minister David Cameron and Chancellor George Osborne have criticised taxpayers for their involvement in immoral and unethical tax planning even though government policy and the law says they can...
Duty free shops are not the cheap havens for buying booze, perfume and trinkets that they are cracked up to be for many expats. Although at least one in three travellers browse the aisles in duty free shops, in many cases the prices are not the bargains they seem to...
FATCA wealth advisers are taking on the financial affairs of US taxpayers that banks and other financial institutions are finding too hot to handle.
FATCA wealth advisers are taking on the financial affairs of US taxpayers that banks and other financial institutions are finding too hot to handle. The Foreign Account Tax Compliance Act heaps regulations of financial institutions worldwide with US clients. The demands include declaring the identity and investment transactions of any US...
HM Revenue & Customs (HMRC) is taking on lawyers who are avoiding tax in a new high-profile campaign. Solicitors are invited to volunteer any undeclared earnings in return for discount penalties. HMRC says the campaign is intelligence led and that they have details of undeclared income about solicitors. The campaign is open...
Tax avoidance laws changing across the world have made sheltering money offshore a risky venture – but some countries still offer low taxes for expats. Financial firm Bradley Hackford has looked around the globe and pinpointed the top 10 least taxed countries based on tax, lifestyle, economic and political security...
UK's tax gap rises to £35 billion amid claims Government is failing to act
Official figures released on Friday have shown the total amount of tax lost through non-payment has increased to £35 billion since last year. HM Revenue and Customs (HMRC) have publicly defended their efforts to combat tax evasion by blaming the increase of £1 billion on the rise in the standard...
European FATCA On The Way To Simplify Tax
A European law compelling banks and financial institutions to reveal the financial details of their customers living in other European countries is a step closer after leaders said they would crackdown on tax dodgers. Using the controversial American Foreign Account Tax Compliance Act (FATCA) as a template, the European Union...
A British couple who moved overseas but made regular visits to the UK of fewer than 90 days a year were still resident in the UK because they had not made a clean break from the country. Anthony and Sally Peck wanted to retire to the South of France after...
The start of the new tax year in the signalled some big changes for expat property investors – and more may follow soon. The long-awaited controversial axing of mortgage interest tax relief for higher rate payers is the major rule change to afflict landlords. Not only are hundreds of thousands of...