The Wealth Lawyer
Trustees beware – beneficiaries can ask for more trust information than you think!
3 May 2018Lewis v Tamplin ([2018] EWHC 777 (Ch)) is a useful reminder to trustees and their advisers of the difficulty of resisting requests for disclosure of trust documents from trust beneficiaries, where the purpose of the request is to obtain information about the trust, its assets and the trustees’ stewardship of them, to enable the beneficiaries […]
Read moreTrusts v FICs: which is best?
15 March 2018Is a company or a trust the best vehicle to hold family money? Companies can be used to hold family wealth. Often referred to as Family Investment Companies (FICs), at their simplest they can be seeded with funds by subscribing for shares or, if continued access to family wealth is needed, by way of loan […]
Read moreHas HMRC called time on Inheritance Tax planning?
18 January 2018Clients 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 […]
Read moreCapital Gains Tax and offshore trusts: match fit for April 2018?
14 December 2017The UK’s Autumn Budget contained a welcome lack of new measures affecting the capital gains taxation of offshore (i.e. non-UK) trusts. However, there are Capital Gains Tax changes waiting in the wings, already announced, coming into effect on 6 April 2018. There may be steps that UK resident non-doms and their trustees ought to be […]
Read moreThe best Christmas present for your family: a discretionary trust?
30 November 2017It’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; […]
Read moreA new look for The Wealth Lawyer UK
26 October 2017We’ve given our Private Wealth blog, written by partner Helena Luckhurst and team, a refresh! Discover bite sized legal briefings on the UK wealth structuring, asset protection and tax issues affecting your HNW clients, every fortnight. And now you can register to receive briefings by email.
Read moreLegal 500 ranks Fladgate’s private client team
26 October 2017Fladgate LLP is delighted that its private client team has been ranked for ‘personal tax, trusts and probate’ in the recently launched 2017 edition of the Legal 500 Guide to the UK Legal Profession. Editorial states: Matthew Bennett heads the department at Fladgate LLP, and advises UK and foreign nationals and their families on the […]
Read moreTrustee beneficial ownership reporting obligations: technical guidance issued
19 October 2017Trustees of most UK and foreign trusts which are liable to pay UK Income Tax (IT), Capital Gains Tax (CGT) or Inheritance Tax (IHT), among others, in any given UK tax year, must now report beneficial ownership details to HMRC in relation to that tax year. This is part of the UK’s response to the […]
Read moreInheritance Tax planning for business owners is often overlooked
27 July 2017When it comes to selling up or transferring on a business to the next generation, entrepreneurs and family business owners are usually encouraged to take measures to reduce the level of Capital Gains Tax payable on the disposal of the business. Far fewer entrepreneurs are advised to consider their Inheritance Tax (IHT) planning, though, and […]
Read moreUK beneficial ownership registers: now it’s your turn, trustees
13 July 2017On 26 June 2017, the UK Government introduced a beneficial ownership register for trusts for the first time, in response to its need to comply with the EU’s 4th Anti-Money Laundering Directive. Which trusts will be affected and what will trustees have to do? The changes, contained in UK Regulations, affect both UK and non-UK […]
Read more