The U.K May Implement a New Tax That Could Cause the Ultra-Wealthy to Leave the Country
But recently installed Prime Minister Keir Starmer is thinking of doing away with the so-called non-dom system.
Legal
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WH Ireland sues Ravenscroft in mystery Isle of Man dispute
It is understood that the case relates to WH Ireland’s sale of its Isle of Man office to Ravenscroft four years ago.
Farrer & Co once again recognised in Chambers High Net Worth Guide
Chambers High Net Worth is one of a series of guides to the legal profession across the globe.
Aberdeen law firm once again recognised in Chambers High Net Worth Guide
Stronachs’ STEP-accredited private client team has retained its Band 2 ranking and Partner and Head of Private Client Jaclyn Russell continues to be individually recognised and ranked as Band 2.
Estate Planning for Millionaires
Estate planning for millionaires and high-net-worth families is complex. Set up your team, paperwork and tax plan.
Chambers High Net Worth guide recognizes Withers as a leading firm globally
Withers is one of the premier full-service firms for private wealth and has a strong tax litigation practice
Carey Olsen leads offshore firms in Chambers High Net Worth 2024
Chambers and Partners is one of the world's leading reference and ranking bodies for the legal sector
Appleby recognition across six offices in Chambers High Net Worth 2024
It means the Group has secured rankings across six of its global locations – Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, the Isle of Man and Jersey.
Expected implications for UK non-domiciles
As part of these changes, it was previously proposed to reform some of the rules which apply to offshore trusts settled by UK Non-Domiciled residents as follows.
FINRA fines UBS unit $850K for failing to properly monitor customer transactions
In the aftermath, UBS reimbursed approximately $17 million to affected customers, paying the principal plus the amount of appreciation that the third party listed on their statements.
GFSC fines trust company £266,000
The Guernsey Financial Services Commission said the failings were serious and spanned a significant period.
Quilter warns of possible 'remedial costs' as regulators probe wealth customer service
Last month, the Financial Conduct Authority requested data regarding ongoing servicing from 20 UK wealth management firms