Saturday October 24, 2020

Offshore offensive

The taxman is turning the screw on offshore pension tactics, with the pension industry predicting a fight that could go all the way to Europe Barry J Whyte

Barry J Whyte

Chief Feature Writer

17th December, 2014
The spotlight is now on pension funds sitting in jurisdictions such as Malta and Cyprus Picture: Thinkstock

It’s been a difficult few years for financial adviser John Mulholland. In 2010 his firm, Custom House Capital, began its long, agonising collapse. While Mulholland had no involvement in the day-to-day running of the firm, he did have a 40 per cent stake, which was wiped out.

He wasn’t the only one – a later investigation of the firm found that there had been “a systematic and deliberate misuse” of client assets to the value...

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