Regulation & Tax

Figures from HMRC show that inheritance tax (IHT) receipts for April 2021 to October 2021 are £3.6 billion, which is £600 million higher than in the same period a year earlier.

The Financial Conduct Authority (FCA) has pledged its support to wealth managers and financial advisers in stabilising the Financial Services Compensation Scheme (FSCS) levy by 2025.

The head of Mexico’s Financial Intelligence Unit has resigned after huge amounts of cash were found on guests attending his foreign wedding, hosted in Guatemala.

The UK is looking to establish a 'comprehensive' financial services model and a bolstered Financial Conduct Authority (FCA), part of its plans to overhaul financial services legislation in the wake of Brexit.

The total Financial Services Compensation Scheme (FSCS) levy for the 2021/22 financial year is now £717m, far lower than the initial estimate of more than £1 billion announced in January of this year.

Given that women on average live longer than men, it is more likely that women will inherit significant wealth from their spouses and other family members than their male counterparts. As a result, a recent study states that women have a greater exposure to inheritance tax (IHT) compared to men, approximately in the region of £430 million.

The number of suspicious activity reports (SARs) submitted by financial firms to the Financial Conduct Authority (FCA) has been steadily increasing year over year since 2017, according to official data.

HMRC has confirmed it will begin issuing “nudge” letters to cryptocurrency investors which are often a precursor to the launch of tax investigations.

Action Fraud is warning the public to remain vigilant when making investments, as criminals cheat hundreds of millions of pounds out of victims through cryptocurrency fraud.

The Financial Conduct Authority (FCA) is pushing forward with proposals that will give investors access to illiquid assets like real estate and private equity.