A look back at the most read stories on eprivateclient this week...
Monday
Offshore law firm Walkers added a dual-qualified trusts lawyer with extensive experience of working in Hong Kong to its Guernsey private capital & trusts team. Marcel Treurnicht joined the team led by partner Rupert Morris and group partner Rajah Abusrewil, working alongside associates Nitrisha Doorasamy (recently named as a 2021 eprivateclient To 35 Under 35) and Kathryn Macken.
Professional services giant PwC said it will create up to 1000 jobs over three years at its newly launched technology hub in Manchester. The technology focused roles are in addition to existing recruitment of 3,000 people per year. At least 100 of the new jobs are being recruited immediately for the tech hub which will be located at the firm’s Manchester office at 1 Spinningfields where 1,400 people are currently based.
Tuesday
Tilney Smith & Williamson hired Blick Rothenberg's Adam Smith as a partner in its professional services business with a remit to build a new US/UK transatlantic tax team at the firm. Mr Smith is a dual qualified US and UK tax adviser specialising in advising US-connected individuals and businesses in all aspects of cross-border US and UK tax issues.
Owners of UK holiday lets will face investigations by HMRC if they fail to properly report their earnings from Britain’s record staycation boom of the last two years, UK accountancy firm UHY Hacker Young warned. HMRC has the power to request information or documents from third parties such as holiday booking sites “for the purpose of checking the taxpayer’s tax position”. This includes entire databases of popular holiday booking sites.
Wednesday
Private client, corporate and fund administration services provider Oak Group announced that Paul Schreibke will now serve as managing director of Oak Funds Services in Guernsey. Mr Schreibke had joined Oak Guernsey in 2019, as managing director of Oak Trust (Guernsey) Limited having previously served as managing director of Intertrust Guernsey, where his remit included roles as managing director of both the trust and fund companies.
The number of stately homes in the UK has hit a record high of 670, up 22 percent from the 550 open in 2009, private wealth law firm Boodle Hatfield uncovered. According to the firm, some owners of historic homes have acted quickly to capitalise on the staycation boom by opening up their house to the public as a way to help finance the high costs of maintenance for listed buildings.
Thursday
UK accountancy firm Dixon Wilson added Rachel Strother to its partnership with effect from 1 October 2021. Ms Strother started as a trainee at the firm in 2008 having graduated from Cambridge. She has progressed through the firm since then, qualifying as a Chartered Accountant and a Chartered Tax Adviser.
New analysis by London lettings and estate agent, Benham and Reeves, revealed that in the last 25 years, the cost of stamp duty has increased by 490 percent for the average homebuyer to £3,548, some 44 percent higher than the average stamp duty paid prior to its introduction.
Friday
International law firm Withers recruited tax adviser Stefano Grilli to its Milan office, where he will head up its corporate tax team. Mr Grilli joins the firm from Gianni & Origoni, where he co-headed the tax practice, along with a team of five associates. Mr Grilli is experienced in advising on domestic and international tax issues in corporate transactions and M&A, as well as capital markets and wealth planning work.
Research by property portal, MoveStreets, revealed that the vast majority of homebuyers have turned up to a viewing to find the property in question is not quite as advertised online. A survey of recent homebuyers found that no less than 71 percent of recent homebuyers encountered a catfish property during their search, turning up to find the property didn’t live up to the promises made on the online portal. The biggest gripe was that the property itself was far smaller in real life versus how it appeared in the photos used on its online listing.