Monthly Archives: January 2022

UK will tighten the regulation of cryptoassets this year

The UK government is cracking down on misleading advertising in the cryptoasset markets. The move is in response to concerns that advertisements (which are often targeted at retail investors) can sometimes overstate the benefits of, without adequately warning about the …

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The importance of resisting the lure of a standardised approach to ESG-reporting

As governments set their own environmental goals, companies follow suit with ambitious and headline-grabbing targets for achieving, among other things, net-zero emissions. But what are companies actually required to do in terms of reporting climate targets? And why should they …

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Inheriting from US trusts

When considering a client’s estate planning, advisers like to reach for the most familiar tools in their arsenal. However, for US/UK clients, the tools that work in the US may not necessarily be tax-efficient in the UK. It is important …

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HICBC: January 2022 update – 2017/2018 tax position

Self-Assessment In their letters, HMRC correctly notes that the Upper Tribunal mentioned the fact that, if HMRC act within the statutory 4-year tax filing deadline, they can require HICBC taxpayers to file a self-assessment tax return. This means that the …

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Gifts to Disabled and Vulnerable People

When making a gift to a disabled or vulnerable person, it is not only important to consider the donor’s position but also that of the recipient of the gift. For example, an ill-considered outright gift to a disabled or vulnerable …

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Can I gift my holiday home or rental property to my children

Transferring ownership of property from parent to child in the UK The principal tax to consider when making gifts is inheritance tax (IHT). The gift of a property will be a ‘potentially exempt transfer’. If you survive the gift for …

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What gifting options do non-domiciliaries have?

What is a non-dom? A non-dom is someone who is neither domiciled nor deemed-domiciled in the UK. Broadly, a person’s domicile is the place they consider to be their permanent home. Your domicile of origin is your father’s domicile when …

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AI regulation in financial services and how the UK diverges from EU rules

AI regulation in the UK There is no AI-specific legislation in the UK. Rather, all UK businesses must take into account various existing legal obligations when developing and using AI, just as they would in adopting any other new technology. …

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Domestic CCTV: are you compliant?

Does data protection law apply? Provided that you’re only capturing images within the boundaries of your private domestic property and garden, data protection law will not apply. If, however, your device is positioned such that it also captures a neighbour’s …

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Bankers told to return to the office

Updated on 24th Jan Last week the government has announced an end to the working-from-home guidance with immediate effect to a mixed reception. Some businesses are expected to announce a full return to the office, while others may elect to …

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