Wire
WBrief: Towry Law gets injunction against former staff
The High Court in London has granted an interim injunction against six former Edward Jones advisors. Edward Jones, now wholly owned by independent financial advice and investment firm Towry Law, alleges solicitation of its clients and misuse of confidential client information.
B'berg: Lombard Odier to open in Moscow
April 6 (Bloomberg) -- Lombard Odier Darier Hentsch & Cie, Geneva’s oldest private bank, said it won Russian approval to open an office in Moscow, competing with Swiss banks UBS AG and Credit Suisse Group AG to manage individual fortunes.
B'berg: UBS client charged with false tax return
April 6 (Bloomberg) -- Former UBS AG client Paul Zabczuk was charged by U.S. prosecutors with filing a false tax return in 2004 that failed to report income he earned on his Swiss bank account.
FT: Private Equity had great 2H09
Private equity is emerging from the wreckage of the financial crisis in better shape than many sceptics predicted, with a resurgence of dealmaking over the last six months likely to keep gathering pace, according to new research.
Tel: Greeks rapidly moving money offshore
Greek banks are being hit by a wave of redemptions as the country's most wealthy citizens and corporations look to move their money offshore or to international financial institutions perceived as safer homes for their assets.
WBrief: Swiss amend US tax treaty
The Swiss Federal Council has approved an amending protocol, revising the controversial “UBS Treaty”, which regulates the transfer of data on 4,450 UBS clients suspected of concealing money from the US tax authorities.
WBrief: Germany now looking into UBS
New troubles are ahead for UBS as the German subsidiary of the Swiss banking giant is being investigated for having allegedly helped clients to systematically avoid taxes by establishing false residency in Switzerland.
FT: 25 years after divorce, husband still liable
A leading barrister has been ordered to pay his former wife a lump sum of £215,000 - 25 years after they divorced.
WSJ: UBS has big hopes for US arm
UBS's wealth-management division will aim to earn $1 billion in annual pretax income within the next three to five years, the unit's chief told employees at a town-hall meeting Wednesday afternoon.
FT: Head of Abu Dhabi sov wealth fund found dead
The head of the Abu Dhabi Investment Authority, one of the world’s largest sovereign wealth funds, was found dead yesterday four days after his glider crashed in Morocco.
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Q
I currently earn over £200,000 per annum and have a portfolio of investments that are actively managed. The gains exceed the annual allowance by a considerable margin. Following the increase in the rate of Capital Gains Tax to 28% announced in the emergency budget, is there anything I can do to reduce my tax bill?
A
One of the simplest things to do would be set up an Offshore Bond to hold your investment portfolio. An Offshore Bond has a number of advantages, including ease of administration, tax deferral and simple access to a range of assets. One of the main drawbacks of managing a portfolio independently is the burden of administration and record keeping.
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