UK delays non-dom tax changes to offshore trusts until 2018
The UK government has delayed changes to the treatment of overseas trusts held by non-UK domiciles, amid concerns the reforms may force out Britain’s wealthiest foreigners.
The UK government has delayed changes to the treatment of overseas trusts held by non-UK domiciles, amid concerns the reforms may force out Britain’s wealthiest foreigners.
Some changes in inheritance tax law can affect wills and trusts, including the introduction of the first tranche of the Residential Nil Rate Band (RNRB) of £100,000 on 6 April 2017, says Karen Clark, tax partner in charge of the London private client team at RSM.
In a bid to crackdown on tax evasion, European citizens could have their private financial affairs exposed to the public after members of the European parliament (MEPs) voted to include trusts and allow EU citizens access to beneficial ownership registers.
Yield-hungry investors have had their demands met by an increasing number of investment companies paying out quarterly dividends, new research from the Association of Investment Companies has shown.
Investor confidence in the stock market has halved in the past two years due to the joint impact of political uncertainty and low interest rates, according to research from the UK’s Association of Investment Companies (AIC).
Canada Life has enhanced its well-known onshore bond, the Select Account, with the addition of a discounted gift trust (DGT) feature.
Trust and corporate services provider Zedra has agreed a deal to acquire Barclays UK trust business for an undisclosed sum.
The British government plans to extend its inheritance tax (IHT) rules to cover properties held by non-domiciled residents in an offshore entity.
The Shanghai-based wealth manager Noah Holdings has set up a trust with international service provider JTC in Jersey to address the increasing succession planning needs of its high net worth clients in China.
High profile fund manager Neil Woodford has sought to reassure investors in Woodford Patient Capital Trust that it will deliver for them if they stick with it.
Three UK tax advisers have been arrested as part of a HM Revenue & Customs (HMRC) investigation into a suspected £132m ($173m, €157m) fraud involving offshore trusts.
Trust and fiduciary specialist Zedra is eyeing an acquisition in Luxembourg with a view to making it a key jurisdiction in its five-year plan for the group business.