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October 24, 2013

Culture, education and the cost of living are all factors to take into consideration before emigration, but when it comes to tax incentives Switzerland is the top domicile – at least if you’re an entrepreneur.

Culture, education and the cost of living are all factors to take into consideration before emigration, but when it comes to tax incentives Switzerland is the top domicile – at least if you’re an entrepreneur.

According to the Global Opportunities report, released by BDO this week, the UK has the next most appealing tax regime, followed by Monaco.

The report said an entrepreneur should be looking primarily for tax benefits on dividends taken from their personal company, or capital gains realised on the sale of a company.

March 21, 2013

Cuts to corporation tax and a £2,000 (€2,300) allowance towards employer national insurance contributions are among the measures most likely to affect family businesses in the latest UK budget. 

Cuts to corporation tax and a £2,000 (€2,300) allowance towards employer national insurance contributions are among the measures most likely to affect family businesses in the latest UK budget.

George Osborne, the chancellor of the exchequer, announced corporation tax would be reduced to 20% from April 2015 – making the UK tax system "one of the most competitive in the G20", according to the UK's coalition government.

November 7, 2012

Italy’s Marzotto family, the former owner of Valentino Fashion Group, has made headlines for alleged tax evasion during the sale of the clothing company in 2007.

Italy’s Marzotto family, the former owner of Valentino Fashion Group, has made headlines for alleged tax evasion during the sale of the clothing company in 2007.

The country’s police have reportedly confiscated assets worth €65 million, including a 15th century castle, owned by the Marzottos.

According to the police in Milan, the family made profits of around €200 million following the sale of its stake in Valentino but did not pay any tax on the gains.

July 23, 2012

The rich and their families are hiding more than $21 trillion (€17.36 trillion) in offshore tax havens, equivalent to around $250 billion in lost tax revenues for governments, according to a report released on Sunday.

The rich and their families are hiding more than $21 trillion (€17.36 trillion) in offshore tax havens, equivalent to around $250 billion in lost tax revenues for governments, according to a report released on Sunday.

Conducted for the Tax Justice Network, a pressure group that campaigns against tax havens, the study drew on data from the World Bank, the International Monetary Fund, the Bank for International Settlements and national treasuries.

March 7, 2012

The Liechtenstein Disclosure Facility may have been in the news a lot recently, but many accountants in the UK are still unaware of the benefits it may offer wealthy families and individuals.

The Liechtenstein Disclosure Facility may have been in the news a lot recently, but many accountants in the UK are still unaware of the benefits it may offer wealthy families and individuals.

That’s according to a recent survey by UK-based accountancy firm Crowe Clark Whitehill, which found that a fifth of accountants do not understand the tax amnesty facility.

Sean Wakeman, a partner in the firm’s tax investigations group, reckons this would deprive wealthy individuals in the UK of a chance to clear up their tax arrears.

February 9, 2012

Giving ultra-high net worth families and individuals in the UK more time to come clean about their assets in Liechtenstein is an “important development”, according to a top legal expert.

Giving ultra-high net worth families and individuals in the UK more time to come clean about their assets in Liechtenstein is an “important development”, according to a top legal expert.

But Philip Marcovici, a former partner at Baker & McKenzie, told CampdenFB that waiting until the end of the deadline to disclose tax arrears could be “dangerous”.

November 29, 2011

Wealthy families and family offices in the UK should take advantage of the Liechtenstein Disclosure Facility and clear off any tax arrears, according to legal expert Philip Marcovici.

Wealthy families and family offices in the UK should take advantage of the Liechtenstein Disclosure Facility and clear off any tax arrears, according to legal expert Philip Marcovici.

The former partner at Baker & McKenzie told CampdenFO that the LDF has many benefits over the new Swiss-UK agreement signed to tackle offshore tax evasion, one of which is the immunity from prosecution.

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