Bank of America reaches settlement in Merrill Lynch lawsuit 01/10/2012 Bank of America has agreed, subject to court approval, to settle a class action lawsuit brought in 2009 on behalf of investors who purchased or held Bank of America securities at the time the company announced plans to acquire Merrill Lynch.
HMRC victory in stamp duty case to net HM Treasury over £170 million 24/09/2012 HM Revenue & Customs (HMRC) has won a key court case defeating a widely-marketed scheme to avoid stamp duty land tax. The decision, subject to any appeal, could save more than £170 million for the UK Exchequer.
UBS's French HQ raided in tax probe 20/09/2012 The French authorities raided the headquarters of UBS in connection with an investigation into alleged tax evasion.
Momentum builds as Guernsey Foundations Law is set to come in to force 19/09/2012 Guernsey Finance, the promotional body for the financial services on the Channel Island, yesterday (18/09/2012) unveiled its planned Foundations Law to an audience of private client professionals at the British Museum.
AIC welcomes US/UK FATCA treaty 18/09/2012 The Association of Investment Companies (AIC) has welcomed the signing of a joint US/UK tax treaty, as both governments look to simplify the exchange of US taxpayer’s financial information as the Foreign Accounts Tax Compliance Act (FATCA) legislation comes into force shortly.
Abramovich’s lawyer to get ‘record multi-million’ fee 11/09/2012 British lawyer Jonathan Sumption, who defended Russian billionaire Roman Abramovich in a case against another Russian oligarch Boris Berezovsky, will be paid £7.8 million, according to UK and Russian media reports.
