Anguilla’s ex-attorney general says UK government may fear exposing its role in Caribbean territories’ tax arrangements Aid offered by the British government to its hurricane-battered territories in the Caribbean has been dismissed as “derisory” by a former attorney general of one of the worst-hit islands. Rupert Jones, who completed a… – Continue reading
BRITAIN will thrive outside the European Union by using its influence to secure a strong trade deal, according to a senior economist. Dr Michael Ivanovitch said the Government has “huge leverage” in its trade negotiations after it triggers Article 50 of the Lisbon Treaty and leaves the union. He insisted… – Continue reading
Nearly half of people say the Prime Minister’s handling of his finances was ‘morally repugnant’, according to our opinion poll, and they support public tax returns for all As the fallout from the fallout from the Panama Papers leak begins to settle, the Prime Minister is left contemplating the damage… – Continue reading
Google’s top global tax executive told U.K. lawmakers that a new U.K. tax provision dubbed “the Google Tax” will not actually apply to the U.S. technology giant. The law, officially the Diverted Profits Tax, was introduced last year amid concerns that Google parent Alphabet Inc. and other global tech companies… – Continue reading
Radical changes to business taxation may be necessary to reduce large multinationals’ ability to avoid levies, a respected economic think tank has indicated. In the wake of the row over Google’s deal with HM Revenue and Customs, the Institute for Fiscal Studies (IFS) suggested a shake-up of the corporation tax… – Continue reading
Here’s a transaction that did the rounds some years ago. If I wanted some foreign exchange in the future I could enter into a contract with a bank by which it would sell me some. Assume that, in order to get a bank to promise to give me $2bn in… – Continue reading
Congress tightens the tax abuse of Americans who live and work abroad Doubling down on Americans living and working abroad is a way for the Internal Revenue Service to squeeze the turnip a little harder in pursuit of a little more blood. The Obama administration, which has never met a… – Continue reading
As Deputy Prime Minister, the holier-than-thou Nick Clegg made huge play of how his Lib Dems forced their Tory Coalition partners to crack down on tax avoidance. Offshore tax havens, in particular, were his target, when he said: ‘There are millions of people who pay their taxes . . …. – Continue reading
Wealthy investors have snapped up at least £100 billion of property across London using overseas companies in the past six years, new figures reveal today. Official data seen by the Standard shows that since 2008 there have been 27,989 purchases of homes, buildings and land in the capital by shadowy… – Continue reading
Tax experts from the United States, United Kingdom, Canada, Brazil and Israel spoke at a two-day conference at Michigan Law about the challenges of the Foreign Account Tax Compliance Act (FATCA) and a multitude of other issues at the intersection of the law of taxation and citizenship. Panel discussions at… – Continue reading
Stanley Amland threw it off. So did Ingrid Bracke. Rhoda May Derksen ditched hers, too. The names, picked at random for this article from the Federal Register, are among the 3,415 Americans who renounced their U.S. citizenship or relinquished their residency permits last year. As a national debate rages about… – Continue reading
Stanley Amland threw it off. So did Ingrid Bracke. Rhoda May Derksen ditched hers, too. The names, picked at random for this article from the Federal Register, are among the 3,415 Americans who renounced their U.S. citizenship or relinquished their residency permits last year. As a national debate rages about… – Continue reading
Labour’s housing spokesperson on the London Assembly wants estate agents and mayor Boris Johnson to take money laundering in property more seriously. Tom Copley says recent studies by global pressure group Transparency International suggests over 36,000 London properties are held by companies operating in offshore tax havens. “Owing to the… – Continue reading
As another season of summer travel starts, Canadian residents with US ties should make sure they are thinking carefully about their tax obligations. Tax compliance may not be first in the minds of most people planning trips to the US, but Congress and the Obama administration certainly are thinking about… – Continue reading
The Conservative majority alongside a nationalist landslide in Scotland reopened the question of powers for the Scottish government, raising the prospect that the Tories might offer Edinburgh full control over taxes and domestic expenditure. The first signs of a radical new settlement emerged on Friday when Boris Johnson, the London… – Continue reading
You may be forgiven for thinking that once you no longer live in the United States, that your ongoing US tax obligations may be relatively simple or even non-existent, particularly if you have never held a US Passport or lived in the US. However the definition of US citizen is… – Continue reading
When Boris Johnson ran for mayor he told the BBC he wanted “a crackdown on tax dodgers and tax avoiders of all kinds”. The comment was a deliberate reference to his then-opponent Ken Livingstone’s use of a “personal service company” (PSC) to allegedly limit his tax bill. Use of PSCs… – Continue reading
Boris Johnson today called for a massive tax rise to stop foreign crooks using the London housing market to launder dirty money. The mayor claimed ‘international despots and criminal rings’ were using phoney companies to buy homes in the capital. More than 35,000 London properties are owned by secretive offshore… – Continue reading
Ukip donor Stuart Wheeler tells Channel 4 News that he does not think Nigel Farage will be “in a government role” after the general election. Stuart Wheeler told Channel 4 News: “I don’t think he’ll be in a government role. He’s said that he won’t have a coalition.” Would he… – Continue reading
London Mayor Boris Johnson was born in New York City in 1964, and he has held dual British and American citizenship throughout his life. Recently, after months of grousing about having to pay a capital gains tax to the U.S. on the sale of his house in Greater London, Johnson… – Continue reading
London mayor Boris Johnson has agreed to pay a substantial tax bill to the US government despite earlier claiming that it was “outrageous” for the US to tax expat American citizens in an interview at the end of November last year. Johnson was born in New York but left when… – Continue reading
You may have heard in the news about Boris Johnson. He’s a flamboyant politician in the U.K. with an unruly mop of blonde hair. Recently, he made news by publicly saying he absolutely won’t pay his U.S. taxes. And yes, he is the mayor of London (the “real” London, where… – Continue reading
Ambassador to London Matthew Barzun says US citizens must pay up Boris Johnson was born in New York so faces a tax bill in America London Mayor has branded the Transatlantic rules ‘outrageous’ Barzun defends US firms like Amazon and Google over tax dodging Insists they are just playing by… – Continue reading
The founder of a prominent wealth management firm says the Mayor of London, Boris Johnson, is noble and brave to refuse to pay his US tax bill under the Foreign Account Tax Compliance Act (Fatca). Johnson, who was born in New York, has a US passport as well as a… – Continue reading
Love him or hate him, you have to say that Boris Johnson makes a very good point about FATCA. Having been hit with a US tax bill due to his unwanted dual citizenship, Johnson – who is as British as they come in all fairness – says he will not… – Continue reading
Should London’s Mayor Boris Johnson pay U.S. taxes and file FBARs? Born in New York, the iconic London mayor never gave up his U.S. citizenship. But rather than quietly paying U.S. taxes, Mr. Johnson in an NPR interview called it ‘outrageous’ to tax U.S. citizens on their global income. Mayor… – Continue reading
Boris Johnson has a point about his U.S. tax bill, but he should still cough up. The London mayor objects to the fact that his dual UK and U.S. citizenship means he has been issued with an American tax bill, and he says he won’t pay. Though many U.S. expats… – Continue reading
