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Rayner my parade! The importance of specialist advice.
Jemma Brimblecombe
There is currently considerable speculation in the UK about changes to the UK tax regime which the new Chancellor will announce in the forthcoming Budget on 30 October. These may include changes to announcements that were made earlier this year by the previous government. It is possible that the October announcements will affect what follows in this note.
As so many families that we advise now live across several countries, and particularly in France, we regularly get asked whether Lasting Powers of Attorney made in the UK and registered with the Office of the Public Guardian can be recognised in France.
I recently appeared as a guest on Radio 4’s Money Box, with Paul Lewis, discussing the issues faced by deputies when trying to access and manage bank accounts for those who lack capacity.
Historically, Americans have been some of the most significant users of the remittance basis of taxation, but this may soon become redundant if the Tories get re-elected. So how will the proposed tax reforms relating to non-domiciled individuals who have or are considering making a move from the US?
If someone dies domiciled in the UK for inheritance tax (IHT) purposes (or non-domiciled but with UK assets exposed to IHT), this is a tax that cannot be ignored.
Jemma Brimblecombe
Charles Richardson
Oliver Oldman
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