Offshore & IFCs

The UK trust business of Coutts and NatWest has been sold to a new firm - Ludlow Trust Company - under an agreed acquisition deal

The International Monetary Fund (IMF) has proposed a “solidarity” tax on high-earners and companies that have prospered to improve social cohesion. This has been met with mixed responses from the private wealth industry.

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

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.

Oak Fund Services (OFS), part of Oak Group, has promoted Tracy Lewis and James Christie to its board.

Social Investment Tax Relief (SITR), originally introduced in 2014, was set to finish in April 2021, but following a government consultation has been extended until April 2023. Could SITR help struggling pubs to survive as we enter the post Covid-19 period of economic recovery?

A new independent trust service provider has launched in Jersey.

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

Highvern, a Jersey-headquartered, independent fiduciary and fund services provider, has opened a new London office.

The obvious advantage of arbitration in the context of a trust dispute is that the very private issues typically at play can be resolved confidentially behind closed doors and the affairs of the family thus remain well out of the public eye, an outcome which cannot be guaranteed in Court proceedings.