Wealth Matters - Summer 2018
Welcome to the Summer 2018 edition of Wealth Matters, Charles Russell Speechlys’ regular update on contemporary legal issues for the Private Wealth sector.
At the time of writing draft legislation for the Finance Bill 2019 has just been published, promising another busy period for clients and their advisers.
In this edition of Wealth Matters we look at the new Trust Registration Service and ongoing Inheritance Tax Consultation in the UK. Experts in our Family and Property teams also give useful guidance on how to help a younger family member onto the property ladder, recent developments for landlords, and what steps should be taken when someone is considering a separation or a divorce.
Trustees may not always be sure what rights beneficiaries have to request information about a trust – our article on page 9 provides a useful summary. We also explain why offshore structures may no longer be a suitable way to hold UK residential property and provide an in-depth analysis of the financial and reputational dangers of non-compliance with HMRC’s ‘Requirement to Correct’ post-September 2018.
I do hope you enjoy this latest edition of Wealth Matters. If you require any advice on the topics covered, or wish to discuss another matter relating to helping protect and grow your or your clients’ wealth, please do not hesitate to contact the team members listed.
For more information please contact Charles Hutton on +44 (0)20 7427 6737 or at charles.hutton@crsblaw.com.
Our thinking
Rebecca Arnold
Government rejects calls for reform for cohabitees
Piers Master
UAE Family Businesses Law
In an article for LexisNexis Middle East the team analyse the much-anticipated Federal Decree-Law No. 37/2022 on Family Businesses.
Rose Carey
Rose Carey quoted in The Evening Standard on visitor visa applications
“Family visas are currently taking up to six months to process and with no priority service available...”
Sara Sheffield
DIFC Courts Offer Digital Vault Service to Store Documents
Alexia Egger Castillo
Inheritance contracts: An unknown planning tool for Brits with assets in Switzerland?
How you choose to dispose of your estate after death requires careful consideration, especially where assets are in multiple jurisdictions
William Marriott
SDLT & the Autumn Statement
Dominic Lawrance
Paying their fair share? Non-doms and share for share exchanges
Julia Cox
The Autumn Statement 2022: Bah Humbug?
Dominic Lawrance
Minimising the depletion of ‘clean capital’ by remittance basis users
The concept of clean capital is fundamental to UK resident foreign domiciliaries who wish to maximise the benefits of the remittance basis.
Claire Conlon
Interest rates are on the rise... including at HMRC
Sarah Jane Boon
The Independent quotes Sarah Jane Boon on the 9.6% divorce increase in 2021
ONS statistics - Divorces in England and Wales: 2021
Tristram van Lawick
Land Manager Collaboration for Environmental Delivery
Explore the different ways land managers can work together to engage with environmental markets.
Nicola Saccardo
New Italian guidelines on taxation of trusts
Sophia Leeder
Financial remedies: A battle royale
The approach to interim orders in a case where a party has delayed in making their application and spent excessively in the meantime
Helen Coward
Changes to UK/Luxembourg Double Taxation Treaty and arbitration procedures
The UK and Luxembourg have agreed a number of changes in the past few months that will impact taxpayers that operate in both jurisdictions
U-turns on Mini-budget announcements
The new Chancellor of the Exchequer has announced a dramatic reversal of the former Chancellor’s 23 September 2022 mini-Budget measures
Sarah Higgins
Guidance for parents on telling their children about separation – how a mediator may help
Telling your children that you are separating from their other parent is something which many parents view with dread
Lisa Wong
Surrogacy in Hong Kong, legally enforceable or not?
The laws in Hong Kong relating to surrogacy are still rather reserved.
Matthew Radcliffe
Eye-catching announcements for private clients
What is the impact of the recently announced mini budget for private clients?
William Marriott
Riparian Owners: What are your rights and responsibilities?
Learn about Riparian land ownership and the associated rights and responsibilities.