The the 20th anniversary of the International Investment Awards event will be held on 16 October in London.
The full shortlist for the awards is as follows:
1) Best international financial centre:
The Isle of Man
2)Best international platform:
Old Mutual International – Wealth Interactive
3)Best international fund group:
Canada Life International
4)Best international portfolio bond
Canada Life International
Old Mutual International – Wealth Portfolio
Utmost Wealth Solutions
5)Best international savings plan:
Canada Life International – Offshore Savings Account
Fairway Group – Fairway International Master Trust
Investors Trust – S&P 500 Index
Investors Trust – Evolution Plus
Old Mutual International – Wealth Management Plan
RL360 – Regular Savings Plan
Zurich International Life – Zurich International Life Pension Plan
6)Best international private health insurance Provider
AXA Global Healthcare
Generali Global Health
Now Health International
7)Best international trust and estate planning
Canada Life International – Controlled Access Account
Canada Life International – The Wealth Preservation Account
Old Mutual International – Tailored Life Trust
Old Mutual International – Lifestyle Trust
Utmost- DGT scheme Estate Planning Bond
Utmost Ireland – Generation Planning Bond
8)Best international pension plan:
Fairway Group – Fairway Jersey Personal Pension Scheme
Zurich International – Zurich International Pension Plan
Momentum Pensions – Momentum International Sipp
The Excellence in Advisory Best Practice Award (voted for by judges only):
Abacus Financial Consultants
The Fry Group
Partners Wealth Management
For financial year in 2018/19 is received record amount, paid an extra £11bn.
Income tax receipts have soared to a record £191bn, according to figures published, a 6% increase from the previous year.
An estimated £31.5bn of this comes from self-assessment income tax receipts, which were almost 12% higher than in 2017-18.
This large jump was partly driven by changes in dividend taxation rules, informed HMRC.
The money owed by people who missed the tax payment deadline of 31 January has been rising for the past three years — up from £1.76bn in 2015/16 and £1.65bn the year before.
The figures also showed that increased scrutiny of tax avoidance schemes brought in £2.7bn of extra tax receipts for HMRC in 2018/19 – up 46% from £1.8bn in 2017/18 — including the revenue gained from investigating disguised remuneration schemes.
Tax avoidance schemes under investigation include film partnerships by some high net worth individuals, who invested in films to reduce their tax burden.
A California-based digital financial service provider Aegis Custody- has been granted a trading licence as Hong Kong’s first digital asset custodian.
Aegis Custody’s informed that through a Hong Kong business, the company will be able to service clients interested in the new digital asset economy on a global scale.
In November last year, Hong Kong’s Securities and Futures Commission (SFC) set out a new regulatory approach for digital assets, seeking to better protect investors and encourage more innovation in the nascent sector.
Aegis Custody says more than 2bn US$ of assets have been lost to internal theft, cybersecurity attacks and human error internationally over the past five years.
Founded in 2018, Aegis Custody concentrates on catering to a wide range of portfolios, from asset managers, family offices, and financial institutions to third-party trusts, exchanges, and asset-based token issuers.
The company says it provides digital asset custody solutions that are flexible and institution-grade so that digital asset investments become simpler for institutions.
BVI is implementing ammendments to the beneficial ownership secure search system (BOSS) Act to adjust to the new rules of economic substance and avoid being placed on the EU’s blacklist.
The territory incerses also funding and staff to its international tax authority (ITA) as it deals with more requests for information relating to taxes, including the area of economic substance.
Premier Andrew Fahie said the ITA performs a critical role in ensuring the smooth implementation and operation of the economic substance reporting requirements along with the structures.
Premier sad that Government do all to minimize the negative impact on the territory’s economy that the economic substance requirement portended.
In January, the BOSS Act was amended to work alongside the economic substance companies and limited partnership (Amendment) Act of 2018.
Premier said the focus of it would be to convince Britain that the BVI BOSS is a better alternative to the UK-mandated public registers of company beneficial ownership.
The Cyprus securities and exchange commission (CySEC) and the Institute of certified public accountants of Cyprus (ICPAC) have signed a strategic partnership to tackle money laundering and terrorist financing.
Under the agreement, CySEC and ICPAC will also address issues and violations of legislation with a common objective to ensure compliance of the supervised entities.
Earlier in May, CySEC sent out a directive requiring additional targeted training be provided by regulated entities to their staff especially in the area of suspicious activity monitoring.
The aim od the directive is to mitigate and manage the risks of money laundering and terrorist financing effectively.