Trusts & Succession
As a whirlwind 2020 draws to a close, it sets the scene for UK-resident non-domiciliaries to begin considering their plans for 2021, particularly for those who will become deemed-domiciled.
Trusts can play a key part and, whilst the tax protections afforded by “protected settlements” tend to command the spotlight, they have many non-tax related advantages which can help meet the many demands, desires and concerns of prospective settlors.
The recent Charity Commission report on its inquiry into the Bersam Trust charity highlighted several failings in the running of the charity, not least in its management of loans made to it and conflicts of interest
News Team on 10/03/2021
The UK government has reaffirmed its commitment to keep the UK as the second largest global hub for wealth management, Economic Secretary to the Treasury, John Glen MP, said in his keynote address at Personal Investment Management & Financial Advice Association (PIMFA) Virtual Fest 2
News Team on 09/03/2021
Offshore law firm Collas Crill completed the first conveyance of part of a tenement in Sark following recent changes to the island's ancient property laws
News Team on 05/03/2021
The UK Budget earlier this week confirmed that the Inheritance Tax (IHT) threshold will not be changed until 2026 at the earliest – meaning that it will have been kept at the same rate for 17 years
Will Sidery on 26/02/2021
New trusts legislation introduced in the UAE is another positive step forward for the wealth management sector in the region, according to the head of trust service provider JTC’s Dubai office
As a couple the Duke and Duchess of Sussex garner significant public attention. However, to the UK tax adviser, they provide a perfect backdrop against which to frame the UK residency and domicile rules...
Rawlinson & Hunter's Stephen Yates looks at tax developments this month...
It is common knowledge that a Jersey trustee may hold office in respect of more than one trust. Indeed a professional trustee may often act as trustee in respect of numerous trusts as part of carrying out its business. Sometimes those trusts are inter-related, forming part of the same, or a connected structure...
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