Insights: Helena Luckhurst

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Trustees beware – beneficiaries can ask for more trust information than you think!

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Lewis 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 […]


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

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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 […]

Trusts v FICs: which is best?

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Is 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 […]


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

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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 […]


Attorneys and gifts

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The Public Guardian’s new ‘Practice Note PN7: giving gifts’ is a must-read for any attorney appointed under an Enduring or Lasting Power of Attorney, or deputy, faced with the thorny issue of whether they can use the incapable donor’s funds in a transaction which is not for value – such as a payment by way […]


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

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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 […]


Has HMRC called time on Inheritance Tax planning?

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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 […]


How to save tax like a duke

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Using family trusts to save IHT is not just for the super-rich, but it does help to have had some well-advised ancestors… No doubt you’ve read the press reports about the sixth Duke of Westminster who has arranged his financial affairs so that the bulk of his £9bn property portfolio passes to his son, Hugh, […]


Capital Gains Tax and offshore trusts: match fit for April 2018?

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The 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 […]


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

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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; […]


UK tax compliance is getting strict with non-doms

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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 […]


Trustee beneficial ownership reporting obligations: technical guidance issued

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Trustees 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 […]