Insights: Helena Luckhurst

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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 […]


2017 Legal 500 ranks Fladgate across the board

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Fladgate LLP is delighted to have achieved across the board rankings in the recently launched 2017 edition of the Legal 500 Guide to the UK Legal Profession. The firm achieved 26 rankings, with 59 lawyers attaining 91 individual recommendations.  Commercial contracts Fladgate LLP enhanced its commercial contracts offering with the recruitment of James Earl, an expert in the […]


UK tax legislation update: taxation of non-doms

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Over the past couple of years, the Government has placed non-doms on notice of its intention to change the way in which they and their offshore trusts are taxed for UK tax purposes.  Now finally all previously trailed provisions have been reintroduced into draft legislation, so here is a brief reminder of the main provisions […]


Can you disinherit your children if you want to?

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You may recall that, a couple of years ago, the English press was full of reports of the Will case of Ilott v Mitson.  (For some background on the case, see my 2015 and 2017 posts about it.) The case was of interest to any testator who is considering cutting out children from their Will.  However […]


IHT Residence Nil Rate Band: depending on downsizing?

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HMRC have published new guidance covering the downsizing provisions of the Residence Nil Rate Band (RNRB) (click here for a link to it). This will be of interest to advisers looking for a relatively straightforward introduction to this aspect of the RNRB which may be suitable for forwarding on to clients. Whenever individuals interested in […]


How to help your non-dom clients with IHT

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They say change brings opportunity, so the optimists among you can rejoice (maybe) because, thanks to the present government, a whole new range of clients need your advice (perhaps). Why the equivocation? Well, until recently, it seemed certain that changes affecting the taxation of non-UK domiciliaries (non-doms), which were included in the March 2017 version of […]


Inheritance Tax planning for business owners is often overlooked

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When 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 […]


UK beneficial ownership registers: now it’s your turn, trustees

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On 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 […]


Who owns the equity? Investment property ownership when relationships break down

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The thorny issue of a couple’s beneficial interests in a jointly owned property following relationship breakdown has once again been examined by the court, this time relating to a Privy Council decision on appeal from the Bahamian Court of Appeal. The case concerned the relationship between Mr Marr and Mr Collie, who together had jointly […]


Fladgate sponsors Family Office & Wealth Management Conference

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Fladgate LLP is delighted to sponsor DC Finance’s Family Office & Wealth Management Conference on 13 June 2017. With over 400 ultra and high net worth individuals and family office executives in attendance, this is one of the world’s largest wealth management events held annually at the Hilton Tel Aviv.  This prestigious conference provides an […]


Protecting personal representatives: interim estate distributions

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How should a personal representative (PR) deal with a request from a beneficiary for an interim distribution before the estate is finalised?  Estates can take many months to conclude but a beneficiary may be in need of some of their inheritance sooner.  Can an executor help out without putting him or herself on the line? […]


Finance Bill 2017: Non-dom tax changes dropped – for now?

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The Finance Bill 2017 contained a number of measures altering the way in which long term UK resident non-doms and UK residential property held in certain offshore entities would be taxed in the UK. However, last week it became clear that all of the non-dom tax changes would be dropped from the Finance Bill, to […]