Following the Fourth and Fifth Money Laundering Directives, the vast majority of UK trusts, together with many overseas trusts which have a UK connection, must now register on the Trust Registration Service (TRS). For details of the government’s proposed changes to Trust Registration Service requirements, see our article. The TRS is managed by HMRC and […]
When looking to structure your wealth and pass assets to younger generations, there are various options to consider. One method is the use of a Family Investment Company (FIC). Family Investment Companies have become more popular in light of the significant changes in 2006 concerning the taxation of trusts. These changes had the effect of […]
Inheritance tax gifts are gifts made during a person’s lifetime that may be subject to inheritance tax if they were made fewer than 7 years before the donor’s death. For many, inheritance tax is a growing concern and so they may choose to make gifts now to reduce inheritance tax in the future. This article […]
The Labour Party has been elected with a promise not to raise taxes on ‘working people’. With a fiscal plan based on increasing tax revenue by over £8.5 billion a year by the end of the parliament (shown below), this leads to questions about where the extra tax will come from, and who is likely […]
In this episode Leonora Stevens and Mike Hodges revisit Family Investment Companies (FICs) and are delighted to be joined by Guy Broadfield, a Senior Associate at Burges Salmon who has a focus on tax and trusts. We first examined FICs back in 2021 (that episode can be listened to here), but with markets and sectors […]
