HMRC’s £50m plan targets tax dodging wealthy
Ten thousand wealthy individuals could be hit by offshore tax avoidance legislation proposed by HM Revenue & Customs, generating up to £50m a year in tax receipts.
High Net Worth
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High net worth family planning using trusts
In this real-life case study, a high net worth family of mixed ethnicity faces complex issues around succession planning, inheritance tax and forced heirship.
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Zurich ramps up high net worth offering with UK acquisition
Zurich UK has agreed to acquire Oak Underwriting in a move that the company believes will transform the firm’s scale in the high net worth sector.
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Why high net worths are leaving the UK
The UK has lost its reputation as a top destination among high net worth individuals, who have been left disenchanted by the direction of government policy, prompting an outflow to more attractive jurisdictions.
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Advisers at 5-year low among Aussie rich
Nervous Australian millionaires are increasingly turning their backs on financial advisers and hanging onto excess cash, according to a new study.
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Secure expat rights now, says top immigration lawyer
Expats should “bag” all the UK/EU rights available to them before the end of the current two-year Brexit negotiations, according to a senior immigration lawyer.
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Guernsey set to cut tax on mansions over £1.5m
Guernsey looks set to make itself more attractive to high net worth expats with the adoption of a tax cut on open market property worth at least £1.5m ($1.98m €1.7m).
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Hong Kong tops HNW cost of living index
Hong Kong leapt to the top of a high net worth (HNW) cost of luxury living index propelled by property, fine dining and business class flights.
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Rich get richer: global high net worth wealth hits $64trn
The global wealth of high net worth individuals rose by 7.5% in 2016, presenting an opportunity for wealth managers and technology firms, according to the Capgemini World Wealth Report 2017.
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China tightens grip on fund industry
Private fund managers in China who raise money from retail investors could face sanctions under provisional regulations released by the country’s state council, according to a circular from the government.
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Asia’s wealthy reveal doubts about financial advisers
High net worth individuals in Hong Kong and Singapore are much more aware of the human-related risks associated with wealth advisers compared to their global counterparts, according to a survey conducted by Factset and Scorpio Partnership.
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UK wealth managers hit a crossroad on path to growth
If traditional UK wealth managers want to stay alive, they must find their unique selling points, invest in technology and pursue inorganic growth strategies, according to a report from SEI Wealth Platform.