Recent Articles

Is Liechtenstein Getting Ready to Abandon Banking Secrecy?

All Articles, International Taxation, Taxation, US Taxation // June 12, 2012

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Having agreed to a tax deal with the UK recently, Liechtenstein is now co-operatingwith the US Treasury – mainly to avoid legal action against local banks – by agreeing to a so-called “group request” identifying their US clients. Liechtenstein’s traditional secrecy started to unwind after data stolen from LGT (the bank owned by Liechtenstein’s royal family) [...]

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Swiss Ready to Disclose Names of US Bank Account Holders

All Articles, International Taxation, Taxation, US Taxation // June 9, 2012

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Swiss Finance Minister, Eveline Widmer-Schlumpf, claims that the US government is keen to end the long running dispute over wealthy Americans with undeclared Swiss bank accounts before the upcoming US presidential election. Currently eleven Swiss banks are under investigation by the United States accused of aiding US citizens evade their taxes. But the Swiss want the investigations to be [...]

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US Intends to Sign FATCA Agreements with Five EU Countries This Month

All Articles, International Taxation, Taxation, US Taxation // June 5, 2012

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The US Treasury has announced that as part of the crack down on American tax evasion it intends to have signed agreements with five European Union (“EU”) countries by the end of June 2012. The agreements will implement the Foreign Account Tax Compliance Act (“FATCA”) and the spokesman also said that the Treasury hoped to announce agreements [...]

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High Farce as Osborne Reverses Tax Proposals

All Articles, News & Views, Political Comment, Rants & Raves, UK Business Taxes, UK Personal Taxes, Value Added Tax (VAT) // May 31, 2012

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Almost before George Osborne sat down after delivering his 2012 Budget speech, many of his own Conservative MPs – on the back benches and in the cabinet – were putting up howls of anguish at some of the measures, such as the so-called “pasty tax”, the “granny tax”, taxes on caravans and listed buildings, and [...]

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Network Rail Facing £42 Million Fine but What is the Point?

All Articles, News & Views, Rants & Raves // May 30, 2012

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The Office of Rail Regulation is threatening Network Rail with massive fines if the company – responsible for the rail infrastructure throughout England, Wales and Scotland – doesn’t take action to ensure that targets for punctuality and service delivery are not met by the end of 2014. In 2011 almost 14 million passenger journeys were [...]

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Nobody in Their Right Mind Would Use Charitable Giving to Minimise Tax

All Articles, News & Views, Political Comment, Rants & Raves, UK Business Taxes, UK Personal Taxes // April 19, 2012

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I honestly cannot believe the cack-handed way in which the government has sought to defend George Osborne’s proposed tax-relief cap for charity donations. Worse still they have attempted to do so in a manner that displays a total lack of understanding on how tax relief for charities actually works. It isn’t rocket science guys – [...]

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