Second Vantis director jailed for four years 26 Oct 2012 Roy Faichney, a former adviser at Vantis Tax, has been jailed for four years and disqualified from acting as a director for 10 years for his part in a £70m tax fraud.As managing director of Vantis, Faichney had a “gentleman’s agreement” with his deputy, David […]

22 OCt 2012 For tax evaders, the blind eye is about to become a magnifiying glassIsraelis typically consider tax evasion a minor infraction, and enforcement has been lax. But in light of the global financial crisis and the billions of shekels at stake, tax evasion is about to get scrutinized.Let’s say someone takes a NIS […]

17 Oct 2012 Foreign Account Tax Compliance Act (FATCA): the operational challenge In February 2012 draft FATCA regulations were released by the US Internal Revenue Service (IRS). Relief provisions have been included in certain areas to ease the administrative burden of FATCA, which are likely to be welcomed by many affected companies. Despite these allowances […]

16 Oct 2012 Good FATCA news for UK retirement plans – On 14 September 2012 the UK Government and U.S. Treasury Department signed a ‘Bilateral Agreement to improve international tax compliance and to implement FATCA’. The Bilateral Agreement specifies the retirement plans and financial accounts that will be treated as exempt beneficial owners or exempt […]

Foreign Account Tax Compliance Act (FATCA): the operational challenge 11 Oct 2012 Foreign Account Tax Compliance Act (FATCA): the operational challenge In February 2012 draft FATCA regulations were released by the US Internal Revenue Service (IRS). Relief provisions have been included in certain areas to ease the administrative burden of FATCA, which are likely to […]

US Foreign Account Tax Compliance Act (“FATCA”) 11 Oct 2012 The Governments of Guernsey, Jersey and the Isle of Man are today, Friday 5 October 2012, simultaneously announcing their intention to negotiate partnership agreements with the United States of America to implement FATCA. These agreements will follow the model intergovernmental agreement published by the US […]

Lloyd’s market bulletin – FATCA – Lloyd’s has published a market bulletin, the purpose of which is to provide initial information to the market on how the proposed US Foreign Account Tax Compliance Act (FATCA) reporting requirements on foreign financial accounts and the associated withholding tax rules are likely to affect the Lloyd’s market, and […]

What Jimmy Carr’s tax muddle may mean for IFAs – Celebrity efforts to mitigate tax by using complicated (if legal) schemes hit the headlines this month. But, with David Cameron getting involved, what are the implications for advisers? Many advisers say Jimmy Carr had it coming – especially after he tried to blame his IFA […]