Disclosure
Tax & Regulation | 7 Mar 17
UK advisers to alert HMRC if clients use offshore tax structures
Financial advisers in the UK could be required to notify HMRC of all clients using offshore tax planning structures, according to George Bull, a senior tax partner at tax and consulting firm RSM, adding that the measure could be rolled out in the UK’s last ever Spring Budget on Wednesday.
Disclosure is a benefit, ‘not an enemy’
Having avoided the high commission trap, Isle of Man-headquartered IOMA Group is well placed to thrive in the new world of fee disclosure and transparency, says managing director Chris Kenning.
DeVere Acuma admits not disclosing commission in S Africa
South African advisory firm deVere Acuma has confirmed that it did not disclose commission charges of nearly £65,000 ($81,114, €75,198) taken from a client’s portfolio over four years, reports local news feed Moneyweb.
IoM life industry discloses extent of commission complexity
When it comes to disclosing commission, Isle of Man-based life companies have revealed at least six different ways they pay intermediaries and asked the regulator to be clear on what it wants them to disclose, according to industry responses to a consultation paper.
IoM regulator confirms two commission disclosure deadlines
Life insurance companies on the Isle of Man must provide broad commission disclosure from 1 January 2018 and policyholder specific commission disclosure from 1 January 2019 under the proposed new Conduct of Business Code.