A look at the most read stories on eprivateclient this week…
Monday
The Office for Tax Simplification (OTS) launched a review to consider moving the end of the tax year from 5 April to 31 March. 31 March was chosen as an alternative date as it is both the end of a calendar quarter and the nearest month end date to the end of the current tax year.
Nominations opened for the 2021 eprivateclient Top 35 Under 35 rankings - the definitive annual list of young private client advisers, generously sponsored for the eighth year running by Cazenove Capital. Nominations are invited for young and upcoming stars within the private client advisory professions from the UK and Crown Dependencies (Jersey, Guernsey and Isle of Man), be they private client and family lawyers, accountants, trustees or residential property buying agents.
Tuesday
The UK's Ministry of Justice (MoJ) delayed the introduction of no fault divorce legislation from autumn 2021 to 6 April 2022 in a move that the private client sector was “disappointing but not surprising”.
UK law firm Collyer Bristow made five promotions, including one new partner and four new senior associates, across its corporate & commercial, dispute resolution and private wealth departments. Among those promoted to senior associate was former eprivateclient Top 35 Under 35 Aidan Grant in the private wealth department.
Wednesday
Highvern Trustees expanded its family office proposition with the appointment of a new head of family office services. Joining from rival firm Ocorian, Richard Joynt has over 20 years’ experience in the fiduciary services sector having set up and for over a decade ran a single family office in Jersey.
Investigative news outlet ProPublica has claimed to have obtained a “vast cache” of tax information, showing how much tax US billionaires pay. ProPublica said it had obtained a “vast trove of [US] Internal Revenue Service data on the tax returns of thousands of the nation’s wealthiest people, covering more than 15 years”.
The 2021 PAM Awards took place on Wednesday 9 June at a virtual black tie gathering attended by more than 200 guests. A full list of the winners, finalists, and commendations from the 23rd PAM Awards can be found here.
Research by London estate agent Benham and Reeves revealed how commuting can cut the cost of homeownership, as a slow but steady return to normality has put the London commuter belt back in vogue with homebuyers.
Friday
UK tax advisory firm Lancaster Knox promoted 2017 eprivateclient Top 35 Under 35 James Heathcote to partner. Mr Heathcote joined Lancaster Knox in 2019 and was previously made a director, private client advisory in April 2020.
Research from home-buying platform, Yes Homebuyers, revealed that the further the England national football team progress in Euro 2021, the better it could be for the housing market in England.