The Pandora Papers were the biggest release of offshore data to date, involving the leak of millions of documents in October 2021 by a number of offshore financial service companies. Letters have been issued to some individuals named in the Pandora Papers Having taken time to review the leaked information, HMRC have now begun the…
DetailsIt is heavily mooted that Rishi Sunak is going to announce that he plans to significantly reform or possibly abolish inheritance tax (“IHT”). This is likely to be a talking point for quite some time. Therefore, we have provided some context to the potential reform below. Background IHT is levied on the death estate according…
DetailsRecent cases in the courts underpin how fundamental it is to ensure that intentions regarding domicile, i.e., where a person’s permanent home is, are backed up by facts and actions. Historically, HM Revenue & Customs (“HMRC”) have been known to dispute an individual’s domicile status post-death, and for good reason. Once the taxpayer in question…
DetailsLeaving the UK? Here are 10 things to think about before you do. Life is never certain, and as seen last week in the Spring Budget 2024, neither are taxes. The Spring Budget announced new proposals that will change how a non-UK domiciled individual will be taxed in the UK and, as a result, you…
DetailsWhat 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…
DetailsToday, Rachel Reeves delivered her long-awaited maiden Budget speech. The speech began with a strong emphasis on restoring stability and driving growth and investment into the country, whilst reminding us of the well discussed ‘black holes’ to plug and tough choices on taxes to make, subjects which had led to rife speculation and rumours ahead…
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