Howard Kennedy FSI aims to take on Mishcons

Private Client Adviser: London-based law firm Howard Kennedy intends to increase its private client offering after its merger with Finers Stephens Innocent has been finalised. The two firms have signed heads 
of agreement with a view to merging under the name Howard Kennedy FSI by 1 November this year. Private client services will be one of Howard Kennedy FSI’s main focuses, with the combined firm claiming it 
“will become the pre-eminent legal advisers to entrepreneurs, wealthy individuals and families and their businesses and funders”.

Full story: http://www.privateclientadviser.co.uk/news/legal-practice/howard-kennedy-fsi-aims-take-mishcons

Portugal relaxes HNWI tax break rules

International Adviser: Portugal’s tax authority has relaxed rules which provide tax breaks to high net worth expatriates living in the country, in the hope of attracting increased foreign investment.

Full story: http://www.international-adviser.com/news/tax---regulation/portugal-relaxes-hnwi-tax-break-rules

Cripps partner appointed as chairman of the Law Society Private Client Section

Cripps Harris Hall: Simon is a partner in Cripps' Wealth Preservation Group, where he specialises in complex wills, trusts, personal tax and probate work.

Full story: http://www.crippslaw.com/news/289/cripps-harries-hall-partner-appointed-as-chairman-of-the-law-society-private-client-section-

HMRC criticised over treatment of blameless taxpayer

STEP Journal: A senior member of the accountancy profession has drawn attention to the case of Preece v Revenue & Customs, in which HMRC sent a taxpayer a paper self-assessment form for the wrong tax year and fined him for not completing the right one.

Full story: http://www.stepjournal.org/news/news/secondary_news/hmrc_criticised_over_persecuti.aspx?link=journalTitle

Sir Elton John sues The Times over tax allegations

Accountancy Age: Pop star Elton John has filed a lawsuit against The Times newspaper over articles which he claims falsely link him with aggressive tax avoidance. Two articles, appearing in the paper under the banner "the secrets of tax avoiders", said Patrick McKenna of Ingenious Media was John's former accountant, reports the BBC.

Full story: http://www.accountancyage.com/aa/news/2197632/sir-elton-john-sues-the-times-over-tax-allegations

STEP launches specialist mediation certificate

Private Client Adviser: The Society of Trust and Estate Practitioners (STEP) has introduced a specialist mediation certificate, designed for all trust and estate practitioners who want to further their understanding of the mediation process and build their reputation as ‘trusted advisers’.

Full story: http://www.privateclientadviser.co.uk/news/legal-practice/step-launches-specialist-mediation-certificate

Private client heavyweight joins Speechlys

Speechly Bircham: Speechly Bircham has added to its significant Private Wealth capability with the appointment of heavyweight private client lawyer James Trafford as a Partner. James is recognised by Chambers UK 2012 as a “widely respected expert in offshore and international tax and trusts planning” and until recently led the private client team at Wilsons in Salisbury.  He is moving to become a core part of the Speechlys’ renowned private client team, which already has 17 partners and is ranked as one of the top seven private client practices in the world by the Chambers Global legal directory.

Full story: http://www.speechlys.com/news/private-client-heavyweight-joins-speechlys

Global family office businesses ranked

Campden FB: The private banking arms of large financial institutions dominate a list of firms managing the money of wealthy families, but independent wealth managers are showing the fastest growth.

Full story: http://www.campdenfb.com/article/global-family-office-businesses-ranked

Cayman Islands plans income tax on foreign workers

STEP Journal: Cayman Premier McKeeva Bush has surprised the jurisdiction's financial sector by announcing plans for an income tax on work permit holders earning over USD20,000 a year. The Cayman Islands, which is a UK overseas territory, has come under UK government pressure to reduce its public sector budget deficit. 


Full story: http://www.stepjournal.org/news/news/main_story/cayman_islands_plans_income_ta.aspx?link=journalTitle

Taxman spends £1m on rewards for tax informants

Accountancy Age: People who informed HMRC of the activities of tax cheats received rewards totalling £1m since the recession started. HM Revenue & Customs spent about £400,000 last year alone in what are known as ‘bounty payments' for anyone reporting tax evasion, according to figures obtained by the investigative website Exaro.


Full story: http://www.accountancyage.com/aa/news/2195475/taxman-spends-gbp1m-on-rewards-for-tax-informants