HMRC faces legal action over Singapore Qrops
Law firm Dorsey and Whitney is planning group legal action over 55 per cent charge on investors in scheme while it was on recognised list.
Aegon and Canada Life shut segmented offshore bonds to new business
Aegon and Canada Life International have closed their segmented offshore bonds to new business after the Government’s clampdown on the products.
HMRC cuts more than 400 Qrops from new register
HMRC’s Qrops crackdown cuts schemes in Isle of Man, New Zealand, Guernsey and Jersey.
HMRC-approved Guernsey Qrops fall by 300 following clamp down
Just three Guernsey-based providers remain on HMRC’s approved list following April 6 rule change.
Guernsey Qrops facing further HMRC clamp down
Guernsey’s income tax office says HMRC plans to disqualify schemes established under new legislation from its approved Qrops listings.
Isle of Man provider to de-register 50c Qrops after HMRC rule change
Pension provider Boal & Co will temporarily de-register its 50c Qrops after the Isle of Man failed to adapt its tax rules following HMRC clamp down.
Non-dom loophole shut on offshore bond gains
The Government has moved to close a loophole which allowed people with offshore bonds who live outside the UK to avoid paying tax on investment gains.
New Qrops rules open all schemes to HMRC scrutiny
New rules will mean legislative changes in the Channel Islands so providers remain compliant.
Non-dom numbers down 16%
Law firm McGrigors says Govt should look at abandoning plans to increase levy for those who reside in the UK for 12 years.
HMRC accidentally publishes Qrops guidance
IoM and Guernsey Qrops rules look set for change after HMRC mistakenly publishes guidance on its website.
Widows back in IFA annuity and protection
Scottish Widows is to re-enter the IFA annuity and protection markets after a review of its intermediary strategy.
Guernsey finance industry resists HMRC Qrops reforms
Guernsey Finance has backed the island’s plans to resist HMRC rules.
Changes planned for Guernsey Qrops
Guernsey is preparing to overhaul its pension rules from April this year.
HMRC unit to track down tax dodgers
HM Revenue & Customs has set up a specialist unit targeting people using offshore accounts to dodge UK taxes.
True Potential adds RoyLon 360 bond to platform
True Potential has added Royal London 360’s offshore bond to its Wealth Platform.
UK to rework Swiss tax deal as it falls foul of EU
The UK Government will have to rework a tax deal struck with Switzerland because it falls foul of EU law.
FSA fines DFM £15k for client money breaches
McInroy & Wood failed to obtain trust letters for offshore client accounts with an average balance of £666,000.
New rules will 'cut throat' of New Zealand Qrops
New Zealand Qrops provider Super Trustee Fund has written to the New Zealand government calling for it to scrap proposals which it claims could end the country’s Qrops market.
European adviser federation link-up for property disputes
The Federation of European Independent Financial Advisers has entered a partnership with overseas property legal services firm Judicare Group, making its services available free to Feifa members.
MetLife's bond duo aims to test Jersey prospects
MetLife will look to expand its range of Jersey-based pension products if its initial launch of two guaranteed bonds is successful.
Isle of Man pushes financial sector
The Isle of Man Government is scrapping its civil service organisation Isle of Man Finance and launching the Isle of Man Finance Partnership with industry representatives to promote the sector.
Overseas funds soar as onshore slumps
Net retail sales of overseasdomiciled funds increased by 49 per cent to £254.9m in July, up from £171m in June.
MetLife plans move into Jersey
MetLife has appointed Paul Frankland as sales development manager as part of its plans to expand its product range into Jersey.
Ex-Clerical chief for Friends global arm
Friends Life has appointed former Clerical Medical chief executive John Van Der Wielen as managing director of its international arm.
Van Der Wielen appointed MD of Friends Life International
Former Clerical Medical chief executive John Van Der Wielen hired as managing director.
IoM regulator decides against grandfathering
Isle of Man’s Financial Services Commission says grandfathering would be ’inappropriate’.
Friends Life international MD to leave
Roco Sepe has been with Friends for 20 years.
First offshore bond for True Potential platform
True Potential has added an offshore bond to its wealth platform and is planning a number of other additions.
Regulator appoints trustee to seize control of pension reciprocation accounts
Independent trustee firm has seized control of the bank accounts of six pension schemes due to concerns that the loans could be legally void.
Govt proposes new statutory residency test
Treasury to introduce new £50k annual charge and residency test aimed at removing uncertainty.
Qrops code warns against execution-only advice
Offshore adviser Montfort International has published a draft code of conduct for Qrops advice which warns advisers not to write Qrops business on an execution-only basis.
Exposed 500,000 face big offshore tax penalties
HM Revenue & Customs says it has uncovered 500,000 people with money in offshore tax havens who could face severe financial penalties if they have used them to evade tax.
