Wire
Withers on a new GAAR
On Thursday 2nd September, HMRC will hold a workshop on the possible introduction of a General Anti-Avoidance Rule (GAAR). Such a rule has been highlighted in the notes accompanying the Emergency Budget as one way to ‘develop sustainable responses to avoidance risk’.
BIC: Who needs advice? Not young millionaires
Young millionaires doubt the value of financial advisors, according to Spectrem Group.
STel: Gaines-Cooper to fight in Supreme Court
Robert Gaines-Cooper, the Seychelles-based British multi-millionaire at the centre at a long-running battle with HM Customs and Revenue – that could see thousands of UK tax exiles chased for backdated tax – has won the right to appeal to the Supreme Court.
WBrief: UBS poaches Morgan man for head of WM Europe
UBS has named JP Morgan veteran Jakob Stott as its new head of wealth management for Europe.
FT: Buffett, Gates secure 'giving pledge' from billionaires
More than 30 US billionaires have pledged to give at least half of their fortunes to charity as part of a campaign spearheaded by Warren Buffett, the investor, and Bill Gates, the Microsoft founder.
WBrief: Schroders PB profits fall sharply
Schroders, the private banking and investment firm, said today its profit before tax and exceptional items for the first six months of 2010 surged to £188.2 million ($298 million) from £36.3 million a year before, while funds under management rose to £164 billion from £148.4 billion at the end of 2009.
WBrief: Austr. millionaire sues UBS
A prominent Australian businessman is suing UBS Wealth Management over multi-billion dollar losses sustained during the financial turmoil, according to media reports.
Breaking: Stealing documents in divorce proceedings ruled illegal
In a ground-breaking decision, the Court of Appeal said today that secret seizure of documents by a husband or wife to use in divorce proceedings is illegal
Reuters: Sarasin to dump untaxed money by 2012
ZURICH, July 29 (Reuters) - Swiss private bank Sarasin (BSAN.S) said it would strive to get rid of remaining untaxed client assets by end 2012 and pledged to woo 9.4 billion Swiss francs of new money this year despite dwindling economic growth.
B'berg: EFG loses $800m
EFG International AG, the Swiss bank controlled by Greek billionaire Spiro Latsis and his family, swung to a loss in the first half after posting an 859.5 million Swiss franc ($812 million) write-off on three asset managers.
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Q
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A
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