Legislative Developments

  • Ordering trustees to explain wealth
    on 24/11/2020

    Should offshore trustees be afraid of unexplained wealth orders (UWOs)? The recent case of NCA v Baker, which concerned high value London property held through offshore structures, gives some valuable reassurance...

  • Exploring UK Investor Visas
    on 23/11/2020

    With excellent schools, world-class legal system and overall high quality of life, once the extraordinary circumstances of 2020 return to normal, the UK remains an attractive jurisdiction for high-net-worth (HNW) families looking to settle overseas. Gaining UK residency through the Tier 1 (Investor) Visa program is one of the most attractive investment programmes explains EFG Private Bank

  • HMRC sends out “nudge” letters to check on UK residency
    News Team on 19/11/2020

    HMRC is sending out letters to overseas individuals living and working in the UK to establish whether they are resident in the country and should be  paying tax to HMRC, tax and advisory firm Blick Rothenberg has warned

  • QROPS under the spotlight – New questions posed by Brexit
    on 18/11/2020

    As with many aspects of the post-Brexit relationship between the UK and the EU, there is considerable uncertainty surrounding the status of Qualifying Recognised Pension Schemes (QROPS)

  • Cayman Islands amends CRS and FATCA requirements
    News Team on 18/11/2020

    The Cayman Islands has made changes to the Common Reporting Standard (CRS) and Foreign Account Tax Compliance Act (FATCA) reporting regimes

  • The Budget delay: Curtains or a window of opportunity?
    on 16/11/2020

    The coronavirus crisis has seen UK government borrowing reach a record high, with the highest debt to GDP ratio since 1960. At some point, the government will need to balance the books as Britain looks to the future

  • CGT proposals likely to spark renewed interest in trusts
    News Team on 16/11/2020

    The Office for Tax Simplification's proposed widespread changes to Capital Gains Tax (CGT) that could see the tax doubled as well as some reliefs abolished is likely to drive the gifting of assets, UK accountants Hillier Hopkins have suggested

  • Collyer Bristow calls on UK government to extend stamp duty holiday
    News Team on 16/11/2020

    UK law firm Collyer Bristow has urged the UK government to extend the stamp duty holiday beyond 31 March 2021 to allow properties that have exchanged, but are yet to complete, to qualify

  • New CGT proposals a ‘far cry from simplification’
    Katie Royals on 12/11/2020

    The Office of Tax Simplification’s proposals to reform Capital Gains Tax (CGT) are “dangerous and are a far cry from tax simplification”

  • UAE shakes up expat inheritance laws
    News Team on 11/11/2020

    The United Arab Emirates (UAE) is to introduce changes to its laws concerning expatriates’ wills and inheritance

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