Regulation & Tax

The England and Wales Courts have examined the use of the statutory power of advancement under section 32 of the Trustee Act 1925

HM Treasury has issued new guidance about risks posed by jurisdictions with “unsatisfactory money laundering and terrorist financing controls”.

It is a common misconception that Lasting Powers of Attorney (LPAs) are only for the elderly or for those who are beginning to lose the ability to manage their affairs. In reality, they are extremely useful documents that should be part of everyone’s lifetime planning and we encourage our clients of all ages to put them in place.

A principal consultant at one of the fastest growing UK tax advisory firms has lost his appeal against a first tier tribunal verdict that he avoided tens of thousands of pounds of tax on the purchase of his home.

Foreign investors are setting up “club deals” to manage new stamp duty surcharges that come into place on 1 April, a tax and advisory firm has claimed.

The Bermuda Registrar of Companies has implemented a number of changes to its economic substance laws.

The Ministry of Justice (MoJ) has opened a consultation on proposals to increase most court fees in England and Wales by around eight percent.

HMRC has updated its guidance on the tax treatment of cryptocurrencies, but the UK government still has not issued any legislation underpinning it, tax and advisory firm Blick Rothenberg has warned.

Despite HMRC’s focus on it, tax avoidance isn’t as widespread as people might think. In fact, according to HMRC’s own figures only an estimated £1.7 billion was lost to tax avoidance in 2018 to 2019.

Along with providing an interesting insight into the Court’s rigorous approach to deathbed gifts, the recent judgement in Davey v Bailey [2021] EWHC 445 (Ch) served as a painful reminder of the importance of precise estate planning.