A look back at the most read stories on eprivateclient this week...
Tuesday
HMRC invited taxpayers with incomes exceeding £200,000 per annum and assets of at least £2 million to participate in voluntary telephone conversations before filing their 2021/22 tax returns. The conversations form part of a pilot scheme launched by HMRC in April designed to help high earning taxpayers avoid errors in their tax returns before they are filed. However, law firm Mishcon de Reya warned that those aiming to use the service should proceed with caution.
Law firm Freeths appointed Gavin Scott as a partner in its Oxford office as it aimed to strengthen its offering in the South East. He joined Freeths' Oxfordshire-based family team which advises clients on prenuptial and cohabitation agreements, dispute resolution, divorce, finances, and child related issues.
Wednesday
Jersey-based private client fiduciary specialist Nicola Gott joined global corporate and trust services provider IQ-EQ as a managing director. Ms Gott joined the firm this month from Oak Group.
Eight of the top 10 fastest growing areas for inheritance tax earned less than the average annual salary, according to research by London law firm Boodle Hatfield. The research revealed that IHT was increasingly having to be paid by middle income families, partly because the rate at which IHT starts to be paid has not been changed for over a decade.
Thursday
Equiom Group has appointed former eprivateclient 50 Most Influential Farah Ballands as its new chair. Prior to joining Equiom, she was the chief executive of Ocorian but stepped down in January last year. 2021 eprivateclient 50 Most Influential - Frederik van Tuyll - took over the responsibilities of the firm’s chief executive role in addition to his role as chairman in March 2021.
A tax consultancy firm has launched a group action tribunal appeal against HMRC tax charges on historical Employee Benefit Trust (EBT) schemes. The Manchester-based firm, Forbes Dawson, has invited professional advisers who may have clients being pursued by HMRC for inheritance tax liabilities to such schemes to join its appeal.
Friday
UK chancellor Kwasi Kwarteng claimed “the government is on the side of the British people” as he announced a series of major tax changes in this morning's (23/09/2022) “mini budget”. Kyra Motley, a partner at Boodle Hatfield, said these were “interesting points” to come out of the chancellor’s statement, adding it will be “very interesting to see these changes.”
Collyer Bristow appointed Charles Avens as it head of immigration. Mr Avens joined the firm from Druces and his appointment at Collyer Bristow was effective from 12 September 2022. Mr Avens’ immigration work spans private client and corporate immigration, providing support to high-net-worth individuals and their families (and family offices) wishing to relocate and to foreign businesses wishing to start a business in the UK.