Blog
Rayner my parade! The importance of specialist advice.
Jemma Brimblecombe
18 August 2022
Can I cut my potential tax bills when returning to UK?
British by birth, I moved to the US 25 years ago for work reasons and now plan to move back with my family — my American wife and our two children. I understand there are special tax rules for returning domiciled people. What do I need to be aware of and should I transfer any assets into my wife’s name to reduce my potential tax liabilities?
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.
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
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
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.