Confirmed and Unsaid: Looking at the 2014 Finance Bill

For private client/trust practitioners, the draft 2014 Finance Bill clauses published on 10 December 2013 contained no great surprises, and were mainly interesting for what they did not include. We will have to wait until early next year for details of the proposed capital gains tax (CGT) charge on the disposal of UK residential property… Read More Confirmed and Unsaid: Looking at the 2014 Finance Bill

Is financial privacy coming to an end?

In recent years, we have seen almost daily developments chipping away at long-established boundaries of financial privacy. Before the global recession gave this process real impetus, who would have thought that offshore financial centres would sign automatic exchange of information agreements? The UK’s proposed public registry of company beneficial ownership may prove to be a… Read More Is financial privacy coming to an end?

On HMRC’s Charges on Trusts consultation

Reading HMRC’s on-going consultation ‘Simplifying Charges on Trusts’ does not give much hope for simplification. Of the key proposals, ignoring previous lifetime transfers and non-relevant property in relation to trust exits and ten year charges, is clearly attractive. However, while the idea of splitting the nil rate band between every trust a settlor creates -even… Read More On HMRC’s Charges on Trusts consultation