News & Insights

From 6 April 2025, the Government’s new Foreign Income and Gains (FIG) regime for ‘qualifying new residents’ (QNRs) introduced a fresh landscape of tax incentives. Despite widespread criticism and concerns around the fiscal impact of scrapping the non-dom regime, the new reforms provide significant benefits for new UK residents – including exemption from UK tax on qualifying income and gains for their first four years of residence. In City AM, Private Wealth Senior Associate, Clare Pooley explores how the new regime works in practice, who stands to benefit, and the long-term implications for international mobility and investment in the UK.

The Government has confirmed the majority of the proposed changes to agricultural and business property relief will come into force from 6 April 2026.   Draft legislation has been released, along with a summary of the consultation responses regarding the proposed measures.

Partners Hayden Bailey, Natasha Hassall and Clare Stirzaker, and Legal Director, Emma Haley, provide an update on the incoming legislation.

Kyra Motley, Will Finnerty, and Emily Wood write in eprivateclient, sharing their insights on the 2025 UBS Global Family Office Report with ten emerging trends shaping the priorities of UHNW families, and emphasising the growing demand for tailored succession planning solutions.

The Telegraph, Yahoo! Finance and MSN have shared an article showcasing stories of next generation youngsters joining family businesses, a 12% increase since 2017 in the number of family members who work for SMEs. Hayden Bailey, Head of Private Client, is mentioned in the article commenting that family businesses “take a long-term view, which may be encouraging to the next generation.”

The Government recently published the English Devolution and Community Empowerment Bill, which proposes banning upwards-only rent reviews in commercial leases. The change is still subject to Parliamentary approval. Under the current system, rent on review can only increase or stay the same and cannot drop below the current rent, even if market rates fall. Partners, David Rawlence and Sophie Henwood, and Associate Kate Symons, outline the key aspects of the proposed ban.

Divorce can be one of the most underestimated risks facing a family business. From ownership disputes to frozen assets and destabilised succession plans, the financial and operational fallout can be severe. In IFA Magazine, Partner and Mediator, Katie O’Callaghan explores the legal blind spots many business owners overlook and outlines practical steps, such as Structural Legal Protections, to reduce the risks before issues arise.

Gateway Two delays are stalling higher-risk building projects by an average of 18–22 weeks, resulting in higher build costs than initially envisaged and potential significant financial losses due to the lack of use. With the risk of further delays, spiralling costs and seemingly inevitable lengthy litigation, is it time to consider avoiding HRBs altogether?  Data from the British Property Federation suggests this may be the direction the sector is heading in, with a 14% decrease in homebuilding for Q1 2025.

The Renters’ Rights Bill 2024, which is likely to gain Royal Assent by September 2025 for implementation by early 2026, will have a significant impact on the current assured shorthold tenancy regime for both landlords and tenants. There will be a transitional period to allow landlords and tenants to familiarise themselves with the new legal framework, however once in effect, the changes will apply retrospectively, governing both existing assured shorthold tenancies and new tenancies.

STEP, the Society of Trust and Estate Practitioners, has today launched a Responsible Stewardship Toolkit, a platform designed to guide families, their advisers and trust and estate practitioners with tools to incorporate responsible stewardship principles in trusts, wills and powers of attorney. Clare Stirzaker, Private Wealth Partner, Emma Haley, Legal Director and Sophie Harcourt, Private Wealth Associate, contributed to the Toolkit, alongside industry experts across the wealth planning, fiduciary and philanthropic sectors.

Partner and Head of Family, Emily Brand comments in the Financial Times on UK Supreme Court’s landmark ruling in Standish v Standish.  She describes the decision as a “victory for pragmatism”, while also noting the potential for ambiguity in the application of the decision in more complex future cases.

In eprivateclient, Partner, Nicola Bushby explores the Law Commission’s Modernising Wills report, highlighting key proposals for reforming the law of wills, such as recognising electronic wills and adopting the test for capacity in lieu of the common law test. While progress is clear, concerns remain, especially around the rule revoking wills upon marriage.

This Wednesday at the TrinityBridge Investment Conference at Lord’s Cricket Ground, Partner William Rollin speaks on the topic of divorce risk, the basics of nuptial agreements, and case studies that bring these legal tools to life.

Managed offices are becoming a core part of landlord strategy, especially for spaces under 10,000 sq. ft. In a report recently produced by managed office operator, Kitt, and featured in Estates Gazette, Partner, David Rawlence highlights how legal frameworks are evolving to simplify and streamline leases to balance the interests of landlords, tenants, and operators together under one agreement.