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Latest Private Client News

Private Client weekly highlights—16 September 2021

The following Private Client news provides comprehensive and up to date legal information on Private Client weekly highlights—16 September 2021

Whose fraud is it anyway? The effect of forgery and the defence of illegality on equitable property interests (Victus (2) v Munroe; Benjamin v Victus (1))

The following Dispute Resolution news provides comprehensive and up to date legal information on Whose fraud is it anyway? The effect of forgery and the defence of illegality on equitable property interests (Victus (2) v Munroe; Benjamin v Victus (1))

FTT rules on validity of discovery assessments (GC Field & Sons Ltd v HMRC)

The following Private Client news provides comprehensive and up to date legal information on FTT rules on validity of discovery assessments (GC Field & Sons Ltd v HMRC)

Comparing ‘ultimate beneficial owner’ rules in EU and US

The following Corporate Crime news provides comprehensive and up to date legal information on Comparing ‘ultimate beneficial owner’ rules in EU and US

Featured Private Client content

Notaries and notarisation—notarisation

Notaries and notarisation—notarisationThe principles of the notarial act are that it is:•an act of the notary and not of the parties named in the...

Beddoe applications

Beddoe applicationsWhen trustees are engaged in trust litigation, issues often arise as to how their litigation costs are to be funded. A Beddoe...

When can a mistake in an executed deed be rectified by a manuscript amendment rather than by a deed of rectification?

When can a mistake in an executed deed be rectified by a manuscript amendment rather than by a deed of rectification?This Q&A explains when it is...

Trustees—removal of trustees

Trustees—removal of trusteesA trustee may be removed against their will in any of the following ways:•under an express power in the trust...

Precedents

Partial deed of revocation of lasting power of attorney

This partial deed of revocation is made on [date] by [donor] of [address].1I granted a Lasting Power of Attorney for [Financial Decisions/Health and...

19th May

Precedents

Deed of revocation of ordinary power of attorney

This Deed OF REVOCATION is made on [date] by me [name of donor] of [address of donor].This Deed provides:1Revocation...

19th May

Practice notes

Trustees—statutory powers of trustees

Trustees—statutory powers of trusteesSource and availabilitySourcesTrustees have certain powers conferred on them by statute, in particular by the...

19th May

Q&As

At what stage and to whom can a Deed of Appropriation take place when selling a second property in an estate?

At what stage and to whom can a Deed of Appropriation take place when selling a second property in an estate?We assume you refer to the situation when...

19th May

Practice notes

Creation of trusts—blind trusts

Creation of trusts—blind trustsWhat is a blind trust?A blind trust is a trust that is aimed at preventing conflicts of interest arising. Usually, the...

Produced in partnership with Michael O’Sullivan of 5 Stone Buildings 19th May

Practice notes

The Cy-près doctrine

The Cy-près doctrineFORTHCOMING CHANGE: On 22 March 2021, the government published its response to the Law Commission’s report of 14 September 2017,...

19th May

Practice notes

Relief for income tax losses

Relief for income tax lossesReliefs entitle taxpayers to reduce the amount of income tax payable. When calculating liability to income tax, a taxpayer...

19th May

Practice notes

Assessment for residential accommodation

Assessment for residential accommodationCoronavirus (COVID-19): The content of this Practice Note is temporarily affected by the coronavirus...

19th May

Q&As

Can a life tenant in a Will bring a life interest to an end by choosing to end it themselves or does it only expire on death?

Can a life tenant in a Will bring a life interest to an end by choosing to end it themselves or does it only expire on death?Life tenantsA life...

Produced in partnership with Lynne Counsell of 9 Stone Buildings 19th May

Practice notes

Capacity to litigate

Capacity to litigateOn the face of it, there would appear to be no specific impediment, if there is no reason to suppose that a person is without...

19th May

Practice notes

Termination of trusts—methods of termination

Termination of trusts—methods of terminationDuration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules...

19th May

Practice notes

Costs and expenses in the Court of Protection

Costs and expenses in the Court of ProtectionThere are court fees and disbursements which will be payable by all applicants on making a new...

19th May

Practice notes

Acceptance in Lieu scheme and other heritage property reliefs

Acceptance in Lieu scheme and other heritage property reliefsSTOP PRESS: HMRC has updated its guidance on calculating the special price in Acceptance...

19th May

Practice notes

Trustees—self-dealing, unauthorised profits and conflicts of interest

Trustees—self-dealing, unauthorised profits and conflicts of interestThe self-dealing ruleThe self-dealing rule is connected to, but distinct from,...

19th May

Practice notes

Offshore trusts—offshore income gains (OIGs)

Offshore trusts—offshore income gains (OIGs)Offshore income gains (OIGs) are gains realised on the disposal of interests in offshore funds which are...

19th May

Practice notes

Trust disputes—court jurisdiction and procedure

Trust disputes—court jurisdiction and procedureTrust litigation has been classified as being of three types:•a dispute as to the trusts on which...

19th May

Most recent International content

Practice notes

Choice of law in foreign accident claims

Choice of law in foreign accident claimsNOTE: The UK's departure from the EU has implications for practitioners considering applicable law. See...

Produced in partnership with Sue Brown. Updated in partnership with Andrew Wilson. 16th Sep

Practice notes

Jurisdiction in EU related accident claims—proceedings issued before 1 January 2021

Jurisdiction in EU related accident claims—proceedings issued before 1 January 2021NOTE: This Practice Note considers the European jurisdictional...

16th Sep

Practice notes

Ordinary share capital—what it means and why it matters for UK tax purposes

Ordinary share capital—what it means and why it matters for UK tax purposesThe concept of ordinary share capital is important for UK tax purposes....

Produced in partnership with Michael McGowan 16th Sep

Practice notes

EEA nationals: rights of entry and residence [Archived]

EEA nationals: rights of entry and residence [Archived]ARCHIVED: this Practice Note is no longer maintained as it covers the implementation of EU free...

15th Sep

Practice notes

Offences under the Money Laundering Regulations 2017 (MLR 2017)

Offences under the Money Laundering Regulations 2017 (MLR 2017)Power to make money laundering regulations post BrexitPost IP completion date, the...

Produced in partnership with Michael Potts of PCB Byrne 15th Sep

Practice notes

Recognition of overseas divorce or dissolution of civil partnership

Recognition of overseas divorce or dissolution of civil partnership11pm (GMT) on 31 December 2020 marked the end of the Brexit...

10th Sep

Practice notes

Execution of contracts—jurisdictional guide

Execution of contracts—jurisdictional guideThis guide sets out the requirements for executing simple contracts in various international jurisdictions....

Produced in partnership with Diego Krischcautzky of Marval, O'Farrell & Mairal. 10th Sep

In-house

Practice notes

E-signatures—jurisdictional guide

E-signatures—jurisdictional guideThis guide sets out how e-signatures are used in various international jurisdictions. The table provides a...

Produced in partnership with Diego Krischcautzky and Diego Fernández of Marval, O’Farrell & Mairal 10th Sep

In-house

Practice notes

Electronic signatures

Electronic signaturesCoronavirus (COVID-19): This Practice Note contains guidance on subjects potentially impacted by procedural changes in response...

10th Sep

COVID-19

In-house

Practice notes

Illegal workers—civil and criminal sanctions

Illegal workers—civil and criminal sanctionsCoronavirus (COVID-19): This Practice Note is updated to take account of changes relating to the...

7th Sep

Practice notes

Failure to prevent the criminal facilitation of tax evasion—the offences

Failure to prevent the criminal facilitation of tax evasion—the offencesThis Practice Note discusses the two ‘failure to prevent’ corporate criminal...

Produced in partnership with Rhys Meggy of QEB Hollis Whiteman 7th Sep

Practice notes

Enablers of offshore tax evasion—civil sanctions

Enablers of offshore tax evasion—civil sanctionsIntroductionThe government’s strategy for tackling offshore tax evasion was initially set out in...

Produced in partnership with Nicholas Griffin QC and Tom Broomfield of QEB Hollis Whiteman 6th Sep

Practice notes

Offshore tax evaders—criminal offences

Offshore tax evaders—criminal offencesBackground to the strict liability offences for offshore tax evadersThe government’s strategy for tackling...

Produced in partnership with Nicholas Griffin QC and Tom Broomfield of QEB Hollis Whiteman 6th Sep

Practice notes

Criminal Finances Act 2017—progress through Parliament [Archived]

Criminal Finances Act 2017—progress through Parliament [Archived]ARCHIVED: This archived Practice Note is not being maintained. It tracked the passage...

6th Sep

Q&As

What are the differences between the two proposed corporate offences involving the facilitation of tax evasion, who can commit the offences and what defences are going to be available?

What are the differences between the two proposed corporate offences involving the facilitation of tax evasion, who can commit the offences and what...

Produced in partnership with James Brockhurst of Gowling WLG 6th Sep

Practice notes

Money Laundering Directive 4 (MLD4)—essentials

Money Laundering Directive 4 (MLD4)—essentials MLD4, MLD5 and related EU measuresThe Fourth Money Laundering Directive (EU) 2015/849 (MLD4) was...

6th Sep

Practice notes

The risks of cryptoassets from a financial crime, money laundering and terrorist financing perspective

The risks of cryptoassets from a financial crime, money laundering and terrorist financing perspectiveWhat are cryptoassets?One of the hurdles in...

6th Sep

Q&As

Are there any disguised remuneration consequences of leaving shares to an employee under a Will?

Are there any disguised remuneration consequences of leaving shares to an employee under a Will?This Q&A considers whether the provisions set out in...

Produced in partnership with Christopher Snell of New Square Chambers 6th Sep

Q&As

Where there is a UK Will or lifetime trust that has (a) no tax (income tax, inheritance tax (IHT) or capital gains tax (CGT)) consequences, (b) no US connections, (c) UK resident trustees and beneficiaries, and (d) UK situated trust property, including a share portfolio with discretionary management, what (if anything) are the obligations of the trust in relation to the Trust Registration Service (TRS), the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS)?

Where there is a UK Will or lifetime trust that has (a) no tax (income tax, inheritance tax (IHT) or capital gains tax (CGT)) consequences, (b) no US...

6th Sep

Q&As