A look at the most read stories on eprivateclient this week...
Monday
Monday saw the publication of the 2021 eprivateclient Top 35 Under 35. The rankings for this year saw 52 practitioners on the UK mainland featured, with a further 18 from Jersey and Guernsey. To see the list of 35 men, click here, and to see the Top 35 women, please click here.
HMRC sent its latest round of “nudge” letters. The letters were sent to certain taxpayers at the end of August who have lived in the UK for 7 years out of 9 or 12 years out of 14 and who had claimed - or had previously claimed - to be not domiciled in the UK.
Tuesday
Trust services provider Highvern made another senior hire as it continues to build its presence in London, appointing Ava Gallagher as associate client director. Formerly of Ocorian, Ms Gallagher joined Highvern as it continues to grow, taking responsibility for developing contacts and business in the UK as well as growing the corporate services arm of the organisation.
JTC increased its revenues by 24.8 percent in H1 2021 to £67 million. In H1 2020, revenues stood at £53.7 million. The firm said this reflected good net organic growth of 7.6 percent and inorganic growth of 17.2 percent. Underlying EBITDA was up 22.6 percent from £17.9 million at the end of June 2020 to £21.9 million.
Wednesday
The UK Labour party announced plans to crackdown on the private equity tax “loophole”. The reforms would focus on carried interests, with Labour proposing to tax the returns on investment as salary.
Law firm Womble Bond Dickinson (WBD) grew its private wealth team with a number of new appointments across the firm's UK offices. Five new lawyers and wealth professionals joined the team in the past couple of months.
Thursday
London private wealth-focused law firm Forsters promoted Idina Glyn within its private client department. Ms Glyn, who has been promoted to the role of senior associate within Forsters’ tax, trusts and estates team, trained with Forsters after graduating from Oxford with a degree in history and politics.
UK law firm Royds Withy King launched a new Pregnancy Loss Policy to its employees that offers compassionate leave to expectant mothers who lose their child before 24 weeks. Only a few large companies currently offer this, and Royds Withy King is one of the first law firms in the UK to do so.
Friday
High net worths (HNWs) are increasingly taking fraud matters into their own hands and pursuing private prosecutions when they fall victim to such scams. Kate McMahon, a partner at law firm Edmonds Marshall McMahon who specialises in private prosecutions, told eprivateclient there are a number of reasons for this...
National law firm Irwin Mitchell added five solicitors to its family law team. The hires include one senior associate, three associates and a solicitor and joined from firms including Clarke Wilmott, Paris Smith and JMW Solicitors.