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 firstname.lastname@example.org.
News & Insights
The Corrections: taxpayers required to address errors in offshore tax reporting by 30 September 2018 or face stringent new penalties
HMRC now have a nuclear legislative weapon against offshore non-compliance, in the form of the ‘requirement to correct’ (RTC) legislation.
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