What is a Private Trust Company? For many years, wealthy families have used trusts to protect their wealth and maintain an element of control to avoid providing large sums of money to children in one go (among many other uses). Over recent years, some families have become more reluctant to give the full control to…Details
Recent months have seen Trustees grappling with key changes to the UK Trust Register Since 2017, offshore trustees have been required to register non-UK trusts with HMRC to the extent that the trust was liable to UK Income Tax or Capital Gains tax. The “UK Trust Register”, as it is known, maintains a central register…Details
Mark Davies & Associates, the award winning firm of international private client advisers, announces the appointment of a new tax partner, Roger Holman. Roger joins from DWF, the world’s largest listed legal business. Mark Davies commented “Roger is an excellent addition to our firm. Meeting your new colleagues for the first time on Zoom sounds frankly…Details
De-envelope? Depressed housing market may present golden opportunity to review offshore structures holding residential property.
It has been widely reported that the UK housing market will be significantly hit by the impact of Coronavirus. Property agents, Knight Frank, predict that this will lead to a 38% decrease in the number of houses sold in the UK during 2020. Experts can only speculate on the short to medium term impact this…Details
Super Rich Stranded by Lockdown Today in Bloomberg , Mark Davies describes the recent havoc wreaked on his clients’ tax plans:- “The pandemic means we’ve now got people stuck in the U.K. who didn’t intend to be here, and people who did want to be here that couldn’t,” he said. “It’s gone both ways.” With…Details
We are living through exceptional days. Understandably, the spread of COVID-19 and the measures that have been implemented to delay its transmission mean that tax may not be at the forefront of people’s thinking. However, there may be significant tax consequences for those individuals forced to remain in the UK due to measures outside of…Details