Jersey publishes action plan following G8 tax communique 12:01 GMT Jersey has issued its own Action Plan on beneficial ownership, to improve the transparency of the ownership and control of legal persons and legal arrangements, following the G8 communique on tax matters in Northern Ireland yesterday (see eprivateclient 19/06/2013).
Hollande announces CGT relief on second homes 09:02 GMT President Francois Hollande has announced a change in the capital gains tax system on second home sales to provide more fluidity in the French property market. The taper relief system is to be changed so that from 2014 the required time of ownerships before a property is completely exempt from capital gains tax will be 22 years, down from the 30 year system which was ratified in September 2012.
Still time to claim 50 percent tax relief on future charitable donations, Mishcon head of tax advises 09:02 GMT Andrew Goldstone, a partner and head of tax & wealth planning at law firm Mishcon de Reya, has advised that anyone who paid 50 percent tax last year still has an opportunity to claim 50 percent tax relief on future charitable donations even though you now pay tax at the reduced top rate of 45 percent (or less).
EXCLUSIVE: Farrer explores implications of Prest case 09:02 GMT On 12 June 2013 The Supreme Court handed down its eagerly awaited landmark decision in the case of Prest v Petrodel Resources Limited [2013] UKSC 34, Bryony Cove, a partner in the private client team at Farrer and Josephine Foy, a solicitor in the firm's family team, look at how the Supreme Court came to its conclusion.
Swiss government looks to play leading role in tax information exchanging 09:02 GMT The Federal Council of Switzerland has accepted an initial report from a group of experts for the further development of the Swiss financial market strategy. The Brunetti report has recommended that Switzerland plays an active role in negotiating an international standard for the automatic exchange of tax compliance information.
Swiss upper house agrees US deal - report 14/06/2013 Reuters has reported that Switzerland’s upper house has voted to allow banks to sidestep strict secrecy laws to end the threat of criminal charges helping wealthy Americans evade tax.
'Messi' tax affair lands footballer in hot water 14/06/2013 Argentine football star Lionel Messi has denied allegations of wrongdoing after being accused of defrauding the Spanish authorities of over $5 million in tax.
Bermuda and BVI split over signing UK Territories tax deal before G8 13/06/2013 Whilst the premier and minister of finance of the British Virgin Islands, Dr. D. Orlando Smith, has accepted the invitation to attend two meetings in London on 15 June hosted by Prime Minister David Cameron ,Bermuda's premier, Craig Canonnier, is not ready to sign the international transparency convention that Britain's prime minister had planned to achieve ahead of the G8 summit in Northern Ireland next week.
Supreme Court rules in favour of Michael Prest's former wife 12/06/2013 The UK Supreme Court has ruled that Nigerian-born businessman Michael Prest must transfer to his former wife, Yasmin Prest, properties held by companies owned and controlled by him as part of their long running and very public £17.5 million divorce proceedings.
