Private Client Law Blog

16 August 2022

The Trust Registration Service – the countdown begins

In October 2020, new rules were introduced requiring all UK trusts (subject to a few limited exceptions) and some non-UK trusts to be registered with HMRC via the Trust Registration Service (“TRS”). Previously, only trusts with certain UK tax liabilities or a business relationship with a UK service provider needed to be registered.

Lucy Bluck

5 August 2022

What Succession tells us about protecting your assets

HNWs face a range of new challenges as they seek to protect their assets, which is why they need to adopt new asset protection strategies. Kingsley Napley partners explain how HNWs can protect their wealth

James Ward

23 May 2022

Government announces Lasting Power of Attorney “revamp”

Since writing the above, the government has announced plans to modernise and strengthen the Lasting Power of Attorney (“LPA”) process, by which a person can appoint attorneys to manage their affairs in the event that they lose capacity, following last year’s consultation on modernising the system.

In summary, the major reforms will be:

  • New safeguards to protect against fraud and abuse
  • Process to be made simpler, quicker and easy to use
  • New digital service to reduce application errors and speed up registrations
Lucy Bluck

16 May 2022

Lasting Powers of Attorney: recent key developments

A Lasting Power of Attorney (“LPA”) is a legal document which allows you to choose who should help you make decisions or make decisions on your behalf when you lose mental capacity and are no longer able to do so yourself. The person making the LPA is called the ‘donor’ and the person or persons given authority under the LPA are called ‘attorneys’. There are two types of LPA: one for ‘Financial Decisions’, for example paying bills or dealing with properties; and one for ‘Health and Care Decisions’ which can cover decisions from what type of care you receive to whether life sustaining treatment is given or not.

Lucy Bluck

22 April 2022

Economic Crime (Transparency and Enforcement) Act 2022 – The Long-Awaited Introduction of the Register of Overseas Entities

The Government has for some time promised to introduce a register requiring overseas entities holding UK property to identify its beneficial owners, in its effort to increase transparency in UK property ownership and reduce the attraction of the UK’s property market to money launderers. Indeed, we last blogged about the potential overseas entities register in May 2019. With UK-based entities subject to strict information-sharing requirements since 2016 (in the form of the register of People with Significant Control or “PSC Register”), many have been calling for an equivalent overseas entities register to be implemented to provide a way of tracking overseas owners who ultimately own and control UK land.

Tom Beak

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