The Supreme Court of the United States (the Supreme Court) has ruled that the value of a company-owned life insurance policy death benefit must be included in the valuation of a closely held corporation for federal estate tax purposes, regardless of any contractual redemption obligation imposed on the death benefit proceeds (Connelly v USA, 602, 6 June 2024).
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Published date
20/06/2024
Copies of nine original royal wills, envelopes and seals have been provided to the probate registry for public access and the originals passed to the Royal Archives for academic research.
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Published date
20/06/2024
The Court of King’s Bench of Alberta has validated elements of a holograph will consisting of both typed and handwritten text (Baldwin v Van Hout, 2024 ABKB 220).
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Published date
18/06/2024
The Council of Europe's anti-money laundering assessment (AML) body MONEYVAL has re-rated Gibraltar from partially to largely compliant with the Financial Action Task Force's (FATF’s) Recommendation 36 regarding compliance with international instruments.
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Published date
17/06/2024
The Upper Tax Tribunal has held that TV and radio presenter Adrian Chiles' personal service company (PSC) fell within the IR35 off-payroll working rules, leaving him exposed to GBP1.7 million of combined income tax and National Insurance contributions (NICs).
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Published date
17/06/2024
The Luxembourg government has presented a draft law to parliament that would simplify the country’s minimum-net-wealth tax regime, as well as implementing various income tax measures.
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Published date
13/06/2024
HM Treasury’s consultation on improving the effectiveness of the UK’s anti-money laundering (AML) regulations has now closed. The treasury considered themes including clarity on the scope of the regulations and registration requirements for the Trust Registration Service (TRS).
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Published date
13/06/2024
The OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum) has released its Tax Transparency in Latin America 2024 report. The report details how Latin American countries have made progress in tackling tax evasion and implementing disclosure measures.
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Published date
12/06/2024
The England and Wales High Court (EWHC) has ruled that a US national cannot be extradited from the UK for wilful non-filing of foreign bank account reports (FBARs).
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Published date
10/06/2024
A non-domiciled financier has lost his appeal against HMRC’s decision to charge him GBP675,000 tax on GBP1.5 million of foreign income brought to the UK.
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Published date
10/06/2024