A look back at the most popular stories on eprivateclient this week...
The UK’s top tax payer is Alex Gerko, a Moscow-born billionaire who paid over £487 million in tax last year, according to the latest annual Sunday Times Tax List. The list of 100 individuals and families who each paid at least £10.7 million of tax either personally or through their businesses saw them pay a total of £5.181 billion of tax with the top ten handing over £2.33 billion to HMRC. Read about the list here.
Setting up a family office can sound appealing to an entrepreneur who is anticipating a liquidity event. However, going from managing a business to managing a family office can be a tough transition. After an unprecedented number of liquidity events during the pandemic, Catherine Grum, who leads BDO’s family office services group, has been busier than usual fielding calls from prospective family office principals. [Read more]
International law firm Withers boosted the ranks of its London probate team with the arrival of new partner Carrie Duncan. Ms Duncan has joined Withers from Anthony Gold, where she headed its private client, probate & trusts team. Ms Duncan advises clients on the broad range of issues surrounding effective succession planning and protecting their family's futures.
A new pilot scheme that will allow journalists to report on proceedings in family court for the first time launched in England & Wales. The pilot, which began at Leeds, Carlisle and Cardiff courts on 30 January, allows reporting on certain applications and private law cases. Documents such as skeleton arguments, case outlines and position statements will also be released to the press.
International law firm Stephenson Harwood hired 2023 eprivateclient 50 Most Influential Beatrice Puoti as a private wealth partner. Ms Puoti has joined the firm from UK law firm Burges Salmon where she was head of private wealth and a partner in the firm's tax, trusts and family department. Ms Puoti's primary focus is on international tax, trusts and estate planning for UK and non-UK resident and domiciled clients.
The Spanish Ministry of Finance named a new list of countries, territories and harmful tax regimes that would be considered as “non-cooperative jurisdictions” for tax purposes, in accordance with the reform introduced by the Anti-Tax Fraud Law in 2021. The reform replaced the term “tax haven” was replaced by “non-cooperative jurisdiction,” and was broadened to include not only States and territories, but also preferential tax regimes.
UK law firm Farrer & Co elected Jeremy Gordon as its new senior partner. Previously head of the firm’s disputes team, Mr Gordon will be formally appointed senior partner on 1 May 2023, taking over the reins from Anne-Marie Piper, who will be retiring from the firm. Mr Gordon will work alongside the Farrer & Co management board with a key priority being further expanding the firm’s international reach, providing advice to clients around the world from its London office.
UK law firm Burges Salmon appointed experienced private client partner Suzanna Harvey as the new head of its private wealth sector, replacing Beatrice Puoti who joined Stephenson Harwood this week. Ms Harvey specialises in tax, trusts, immigration and estate planning for international clients (both UK resident and non-resident) and provides tax advice to a wide range of clients, from ultra-high net worth individuals to private banks and other financial institutions.
Gateley Legal made two new senior appointments from within its private wealth team. Former eprivateclient Top 35 Under 35 Ravi Francis was appointed as head of private wealth in London. At the same time, partner Sean Williams was named as Gateley's new national head of private wealth with responsibility for teams across London, Birmingham, Manchester and Nottingham.
UK and Europe boutique accountancy firm US Tax and Financial Services (USTAXFS) appointed Glenn Snow as a tax director within its private client team. Mr Snow has joined the firm from EY Frank Hirth where he was a tax director. Mr Snow was named an eprivateclient Top 35 Under 35 in 2016 and 2017.