News & Insights

Legal Director, Emma Haley and Trainee, Tom Heathcote share their thoughts on the latest consultation and the concerns around whether it is necessary to pursue immediate change.

The UK introduced further measures this summer, extending the rules for trusts and introducing a new, separate, Register of Overseas Entities. Legal Director, Emma Haley looks at the action needed for those affected.

Following an extension of the UK Trust Register, many trusts (both UK and offshore) will either need to register for the first time or provide additional information by 1 September 2022, or within a new 90-day deadline.

The Economic Crime (Transparency and Enforcement) Act 2022 was passed on 15 March and is expected to come into force imminently. Partner, Laurence Morgan, Legal Director, Emma Haley and Senior Associate, Kate Symons outline the measures that the Act include to create a register of overseas entities that own UK land.

Senior Associate, Emma Haley and Associate, Jenny Wilson-Smith reflect on amended excepted estates IHT reporting, highlighting how the conditions for certain categories will be affected by the changes that will take place from 1 January 2022.

Senior Associate, Emma Haley and Associate, Jenny Wilson-Smith recap the main changes set out in the Autumn Budget this year.

Following the “Tax Administration and Maintenance Day” that took place on 30 November, HM Treasury released various consultations, responses and a range of policy announcements and updates aimed at modernising the tax system. Sara Maccallum, Emma Haley and Jenny Wilson-Smith highlight three items of interest.

Senior Associate, Emma Haley and Associate, Jenny Wilson-Smith, comment on the latest draft Finance Bill released on 20 July 2021 and which is due to have a new version published on 27 October 2021 and finalised in March 2022. They cover the potential impacts and administrative disruption that businesses may be facing with the new Finance Bill.

Senior Associate, Emma Haley and Trainee, Annabella King, discuss the government’s proposal of moving the system of making and registering Lasting Power of Attorney (“LPA”) fully online and the potential benefits of an online LPA system that should encompass appropriate protections for individuals.

Senior Associate, Emma Haley and Associate, Jenny Wilson-Smith, reflect on the changes proposed by a consultation which was launched by the government to target amendments to the existing anti-money laundering regulations (MLR 2017).