Industry News

16 October 2018

The US Financial Crimes Enforcement Network (FinCEN) last week (October 11) issued an advisory warning to financial institutions (FIs) on the money laundering issues in Iran, and suggested measures to help them better detect “illicit transactions.”

15 October 2018

As of this August, the US Internal Revenue Service had started action to revoke the citizenship or residence rights of at least 260,000 US individuals, according to law firm Dickinson Wright.

15 October 2018

Media reports have suggested that the next budget, due on 29 October 2018, will reduce the lifetime and annual caps on tax-free pension contributions.

11 October 2018

The European Union's Code of Conduct Group on Business Taxation has been told by the new Austrian presidency that it may have to assess EU Member States themselves for possible inclusion on the EU blacklist of jurisdictions that use harmful or unfair tax practices.

11 October 2018

A homeowner who bought a flat ‘off-plan’ (pre-construction) is liable for capital gains tax (CGT) from the date he signed the purchase contract, but can only claim principal private residence (PPR) relief on the period after he moved in, the Upper Tax Tribunal has ruled.

9 October 2018

Panama has commenced its automatic exchange of information (AEOI) reporting in order to meet OECD global standards, the government has announced. The country will be exchanging information with 31 countries.

8 October 2018

The Irish government is considering a new law to stop people who kill their spouses from benefitting financially after their death, after Eamonn Lillis inherited his wife’s estate, despite being convicted of her manslaughter in 2008.

8 October 2018

A series of Court of Protection (CoP) test cases have raised issues around the validity of wording in lasting powers of attorney (LPAs), specifically in relation to euthanasia and assisted dying (Re DA & Ors). The test cases, in which Tom Entwistle acted for the Public Guardian (the Applicant) and David Rees QC TEP acted for the Official Solicitor, raised two key issues around assisted dying and around the appointment of attorneys.

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