News & Insights

Senior Associate, Emma Haley and Associate, Jenny Wilson-smith, discuss an unexpected amendment to the HMRC guidance which led to industry bodies seeking clarification of the possible changes for remittance of foreign income and gains in the collateral (where the collateral exceeded this amount).

Senior Associate, Emma Haley and Associate, Jenny Wilson-Smith, reflect on a recent judicial review case decision (Murphy v HMRC [2021] EWHC 1914 Admin, 13 July 2021) and how it is affecting both UK and non-UK resident trusts.

Non-taxable trusts can start to register on-line to trust registration service (TRS) now. Senior Associate, Emma Haley and Associate, Jenny Wilson-Smith, highlight the new changes in the registration requirement and deadline following the implementation of the Fifth Money Laundering Directive into UK law.

The Office of Tax Simplification published its second report on capital gains tax reform on 20 May 2021.

The government published a response to the Office of Tax Simplification’s first inheritance tax report and will simplify reporting regulations from 1 January 2022.

Prior to the Budget, there was much speculation about capital gains tax (CGT) reform and rises, substantive inheritance tax (IHT) reform and maybe even a wealth tax.