Time to send the family wealth on a foreign holiday?

22 January 2019

Taking your family wealth on a foreign holiday always sounds more glamorous than staying at home and doing a bit of housekeeping. Private Wealth partner, Helena Luckhurst encourages you to think about your assets.

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Appeal against UK’s first Unexplained Wealth Order rejected

8 October 2018

An attempt to appeal the UK’s first Unexplained Wealth Order (UWO) has recently failed in the High Court. In February 2018, the UK’s National Crime Agency sought an UWO against Mrs A (whose anonymity may only be temporary), seeking information about the purchase of a valuable London property. UWOs require an individual to provide a […]

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IHT relief and holiday homes: has the tide turned?

6 September 2018

Confidence in claiming Inheritance Tax (IHT) Business Property Relief (BPR) in relation to holiday homes has been at a low ebb in recent years, following a string of cases that have ultimately gone against the taxpayer.  However, in the recent case of Graham v HMRC ([2018] UKFTT 0306 (TC)), the taxpayer was victorious.  Has this […]

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Domicile dramas

26 July 2018

Many advisers have to grapple with the sometimes difficult question of establishing their client’s domicile. A client’s domicile is fundamentally important in a diverse range of English legal and tax areas, such as whether: a client can bring divorce proceedings in the UK; a client is liable to UK Inheritance Tax on worldwide assets as […]

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Event: Investing in the UK – Immigration and Tax considerations for HNWIs

27 March 2018

Date: Tuesday 24 April 2018 08.00 – 10.00 Following the initial shock of the outcome of the EU referendum in June 2016, confidence about the UK’s future is slowly returning. As this continues, HNWIs from outside the EU are again looking to the UK as a destination of choice for investment and ultimately settlement for […]

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Unexplained Wealth Orders – force for good or snoopers’ charter?

1 March 2018

Unexplained Wealth Orders (UWOs) are a new tool in the armoury of the UK Government, designed to disrupt the entry of the proceeds of crime into the mainstream economy. From 31 January 2018, UWOs can be issued by the English High Court to enforcement authorities (including HMRC) in respect of (i) non-EU Politically Exposed Persons […]

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Out of time Inheritance Act claims: lessons from the Sargeant case

1 February 2018

Mrs Mary Sargeant’s case is a classic example of why advisers of bereaved widow(er)s are ideally placed to help their clients consider whether sufficient provision has been made for them under their deceased spouse’s Will.  The problem, as Mrs Sargeant found out, is that this is sometimes not obvious even a number of months after […]

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Has HMRC called time on Inheritance Tax planning?

18 January 2018

Clients intending to carry out Inheritance Tax (IHT) planning in relation to their assets should consider completing their planning ahead of the 1 April 2018 changes to the DOTAS Regulations, as they apply to IHT. The Disclosure of Tax Avoidance Schemes (DOTAS) regime is not new but, to date, its application to IHT has been […]

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The best Christmas present for your family: a discretionary trust?

30 November 2017

It’s beginning to look a lot like Christmas out there, as Bing says.  Thoughts turn to what gifts to give our family.  When it comes to making big gifts to family members, though, in lifetime or on death, still not enough people think of using a trust. Many people hardly know what a trust is; […]

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UK tax compliance is getting strict with non-doms

16 November 2017

To those of us who spend our working hours musing on tax problems, not thinking about the tax implications of where we choose to live, what we invest in and how we do business can seem, well, pretty strange. However, for most (normal) people, tax, and tax compliance in particular, are not top of their […]

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