If anything good could possibly come out of all this, it might be a move to control tax-dodging tax-havens where you don’t need much in the way of ID to open a bank account. Who knew how many versions of Bermuda and the Cayman Islands there were in the Caribbean and around the world? It’s not just dodgy Russians, of course, but also dodgy tech (and other companies), whose profits generated anywhere with a half-decent tax regime end up via convoluted corporate routes somewhere sunny and tax-free. If you don’t believe me, just Google it…
“HMRC scraps plans to tax pensions after death”
A couple of other Statement Highlights (in my world, anyway). A welcome ‘nothing happened’ on the treatment of pensions on death. They were never going to be liable to IHT (too complicated with trusts and trust law) but there was talk of making them income-taxable on the recipients at whatever age you die.
