Brexit: UK lawyers and accountants 'could be banned from EU work'

The Independent: British lawyers and accountants could be barred from working in Europe if the Government leaves the Brexit negotiations without a deal, House of Lords peers have warned.

Full story: http://www.independent.co.uk/news/uk/home-news/brexit-latest-news-uk-lawyers-accountants-banned-eu-work-european-union-free-trade-agreement-fta-a7643981.html

Why becoming a tax haven would be bad news for Britain

The Guardian: Theresa May and Philip Hammond have warned the EU that if they don’t like the Brexit deal, they could turn the UK into a tax haven. The truth is that being ‘offshore’ means being unfair and undemocratic – and you still pay tax.

Full story: https://www.theguardian.com/world/2017/mar/22/tax-haven-theresa-may-bad-news-britain-brexit 

HSBC chief loses closure notice bid over non-dom status

CCH: The tax status of Stuart Gulliver, HSBC group chief executive, has been put in the spotlight again following a procedural ruling at First Tier Tribunal (FTT), which found that HMRC is not bound by an earlier decision regarding his non-UK domicile status when considering his more recent tax returns

Full story: https://www.cchdaily.co.uk/hsbc-chief-loses-closure-notice-bid-over-non-dom-status

Fourteen-lawyer London private client team leaves Gowling WLG for Forsters

Legal Week: Gowling WLG’s 14-lawyer City private client team is to move to Forsters later this year.

Full story: http://www.legalweek.com/sites/legalweek/2017/03/09/gowling-wlg-sees-14-lawyer-london-private-client-team-move-to-forsters/

Spring Budget leaves HNWIs considering their options

Accountancy Age: Richard Le Tocq, head of Locate Guernsey, discusses the chancellor’s approach to high net worth individuals, and why relocation is increasingly attractive to HNWIs.

Full story: https://www.accountancyage.com/2017/03/21/spring-budget-leaves-hnwis-considering-their-options/

HSBC boss ‘tested’ UK tax office on his non-dom status

International Adviser:  Stuart Gulliver, the chief executive of HSBC, may have set up a trust to test whether the UK taxman would accept he was a non-dom, according to specialist tax advice agency Mark Davies & Associates.

Full story: http://www.international-adviser.com/news/1034871/hsbc-boss-tested-uk-tax-office-dom-status

What advisers need to know about non-dom property rules

FT Adviser: The UK Government has dealt yet another blow to the ownership of UK residential property through corporate structures.

Full story: https://www.ftadviser.com/tax-efficient-investments/2017/03/21/what-advisers-need-to-know-about-non-dom-property-rules/

Taxman levies inheritance tax on £5.8bn of shares

CityAM: Half of all inherited shares were subject to inheritance tax (IHT) according the latest figures, prompting calls for people to manage their personal finances more efficiently.

Full story: http://www.cityam.com/261257/taxman-levies-inheritance-tax-58bn-shares

MoJ issues clarification on probate fees after outcry

Law Society Gazette: The Ministry of Justice has published further guidance on its plans to hike probate fees in the face of fierce criticism.

The guidance, a question-and-answer style paper called ‘further information regarding interim arrangements for the probate service ahead of the new fees implementation', has been published in response to ‘questions raised so far’.

Full story: https://www.lawgazette.co.uk/law/moj-issues-clarification-on-probate-fees-after-outcry-/5060332.article

HMRC scores another win in film tax battle

International Adviser: HM Revenue & Customs has extended its run of victories against schemes seeking to exploit tax breaks for the UK film industry.

Full story: http://www.international-adviser.com/news/1034850/hmrc-scores-win-film-tax-battle

Over 55s at risk of inheritance ‘sibling tax trap’

BestAdvice: Over 1.7 million over 55s could miss out on the upcoming increased nil-rate inheritance tax band (the Family Home Allowance) because they’ve assigned their sibling to inherit their family home and not a direct descendant, according to the latest research from LV= Legal Services.

Full story: http://bestadvice.co.uk/over-55s-at-risk-of-inheritance-sibling-tax-trap/?doing_wp_cron=1490114127.4085459709167480468750