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09/20/2021

Senior Associate, Becky Shaw documents the best way for you to prepare for the winning bid at auction.

an art lawyers guide to buying art at auction
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09/16/2021

A recent judicial review case (Murphy v HMRC [2021] EWHC 1914 Admin, 13 July 2021) confirmed HMRC’s view that UK resident beneficiaries who receive discretionary income payments from offshore trusts can only claim relief for income tax paid by the trustees on income that arose in the 6 years before the end of the tax year in which the payment to the beneficiary was made.

discretionary payments from offshore trusts
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09/16/2021

Since 2014 HMRC have taken the view that where foreign income and gains are used as collateral for a loan used in the UK, the collateral itself is deemed to have been remitted to the UK.

remittances and collateral
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09/16/2021

A very light draft Finance Bill was published on 20 July 2021 for consultation. The current parliamentary timetable officially provides that the actual Finance Bill will be published following the Autumn Budget on 27 October 2021 and will then be finalised in March 2022.

draft finance bill 2022
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09/16/2021

HMRC have closed down a specialist unit set up to review Family Investment Companies (FICs) having gained a better understanding of what they are and how they are used.

family investment companies
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09/16/2021

The Mental Capacity Act 2005 allows people to appoint someone they trust to make decisions on their behalf in the event that they lose capacity to make decisions themselves.

lpa consultation
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09/16/2021

HMRC has advised that the revamped on-line trust registration service (TRS) is now fully operational, so that non-taxable trusts can start to register.

wider trust register – now open
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09/16/2021

The government has launched a consultation on targeted amendments to the existing anti-money laundering regulations (MLR 2017) at the same time as a more general call for evidence on a wider review of the UK’s AML/CTF (Counter-Terrorist Financing) regulatory and supervisory regimes.

aml: further changes
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09/16/2021

In recent article in The Art Newspaper Employment Associate, Alexander Martinelli highlights the lack of legislative backing around unpaid internships over the last decade.

despite legal crackdowns, unpaid internships are still rife in the art world
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09/15/2021

In the Financial Times, Family Partner Emily Brand considers the impacts of litigation funding for a spouse who has been locked out of shared bank accounts ahead of divorce proceedings.

should i go to a litigation funder to pay for my divorce?
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