Non-doms invest record £1bn using tax break

Accountancy Daily: Use of business investment relief (BIR) by overseas high net worth individuals has increased five-fold since the tax break was first launched in 2012 by then chancellor George Osborne during the coalition government.

Full story: https://www.accountancydaily.co/non-doms-invest-record-ps1bn-using-tax-break

‘We’re the most privileged humans on earth’: Millionaires and billionaires demand to pay higher taxes

The Independent: More than 120 billionaires and millionaires have demanded to be allowed to pay higher taxes.

Full story: https://www.independent.co.uk/news/uk/home-news/millionaire-tax-inequality-open-letter-simon-pegg-climate-a9298791.html

Market-leading Private Client Property partners join Keystone Law from Charles Russell Speechlys

Keystone Law: Keystone Law is delighted to announce that the firm has been boosted by the arrival of two new private client property partners Sakhjit Randhawa and Ian Cooke who have arrived from Charles Russell Speechlys LLP.

Full Story: https://www.keystonelaw.com/news/market-leading-private-client-property-partners-join-keystone-law-from-charles-russell-speechlys

Corbyn pledges to fight tax evasion and avoidance

ICAEW: The Labour leader says that the party’s tax plans will affect the richest 5% of society.

Full story: https://economia.icaew.com/news/november-2019/corbyn-pledges-to-fight-tax-evasion-and-avoidance

Top 1% of earners in UK account for more than a third of income tax

The Guardian: The top 1% of earners in the UK now account for more than a third of income tax paid to the government, following changes over the past decade that have left almost half the population exempt from making payments.

Full story: https://www.theguardian.com/business/2019/nov/13/richest-britain-income-tax-revenues-institute-fiscal-studies

General Election 2019: Boris Johnson drops pledge to cut taxes on the rich from Conservative election manifesto

iNews: Boris Johnson is set to drop his key tax-cutting policy from the Tory manifesto, it emerged as the parties prepare to lay out their election offers in full.

Full story: https://inews.co.uk/news/politics/general-election-2019-boris-johnson-drops-pledge-to-cut-taxes-on-the-rich-from-conservative-election-manifesto-1171001

Edwin Coe’s Private Client team grows with the addition of a Partner and an Associate

https://www.edwincoe.com/edwin-coes-private-client-team-grows-with-the-addition-of-a-partner-and-an-associate/

Super-rich prepare to leave UK if Labour win election -
https://www.theguardian.com/news/2019/nov/02/super-rich-leave-uk-labour-election-win-jeremy-corbyn-wealth-taxes

THE THOMAS COUTTS LECTURE – WHAT DOES IT TAKE TO MAKE IT AS AN ENTREPRENEUR?

Click - 

https://www.coutts.com/insight-articles/news/2019/entrepreneurs/thomas-coutts-entrepreneur.html

An accountant and a lawyer walk into a bar…

CEO and co-founder of MarktoMarket, Doug Lawson explains how new business models are driving change in the accountancy and legal professions:

https://www.accountancyage.com/2019/10/10/an-accountants-and-a-lawyer-walk-into-a-bar/

Chancellor Sajid Javid reveals scrapping inheritance tax 'on my mind'

Chancellor Sajid Javid reveals scrapping inheritance tax 'on my mind'

https://news.sky.com/story/chancellor-sajid-javid-reveals-scrapping-inheritance-tax-on-my-mind-11824795

UK Labour government would abolish 'non-domiciled' status in first budget

UK Labour government would abolish 'non-domiciled' status in first budget:

https://www.reuters.com/article/us-britain-politics-labour-nondom/uk-labour-government-would-abolish-non-domiciled-status-in-first-budget-idUSKBN1W60G7

Macfarlanes announces senior lateral private client property partner appointment

Macfarlanes: Macfarlanes is pleased to announce that Ian Cooke will be joining the firm as a partner in the private client property group. Ian advises major property companies and private individuals on their English property transactions, with a particular focus on prime London residential real estate. Ian joins from Charles Russell Speechlys.

Full story: https://www.macfarlanes.com/press-releases/2019/macfarlanes-announces-senior-lateral-private-client-property-partner-appointment/

HMRC delays penalty notices due to Brexit

ICAEW: The Revenue has been forced to delay sending its £100 penalty notices from February until the end of April, due to the added resource burden caused by Brexit

Individuals who failed to submit their self-assessments by 31 January will still be fined £100 despite receiving the penalty notice months later.

Full story: https://economia.icaew.com/news/february-2019/hmrc-delays-penalty-notices-due-to-brexit

The Business Magazine: Audit, tax and consulting firm RSM has appointed Sarah Turgoose as a private client partner to strengthen its Southampton tax team.  Turgoose joins RSM from Deloitte, bringing over 16 years’ experience working with private clients providing wide ranging tax advice to entrepreneurs, their families, businesses and family trusts.

Full story: https://www.businessmag.co.uk/southampton-rsm-appoints-new-ex-deloitte-partner/

High probate fees slammed as stealth tax

Accounting Web: A committee of the House of Lords has raised serious concerns over government plans to increase probate fees by up to 2,690% from April 2019.

Full story: https://www.accountingweb.co.uk/tax/personal-tax/high-probate-fees-slammed-as-stealth-tax

BDO to merge with Moore Stephens

Accountancy Age: BDO is in advanced merger discussions with business services company Moore Stephens. The new company will have a turnover of £590 million and employ 5,000 staff, in London, Reading, Birmingham and Bristol. It plans to be the leader in advising the UK’s entrepreneurial mid-sized businesses but will also challenge its larger competitors for more complex audit, tax and advisory work.

Full story: https://www.accountancyage.com/2018/11/26/bdo-to-merge-with-moore-stephens/

KPMG UK hits highest growth rate since 2008

ICAEW: After what could be called its annus horribilis, KPMG UK is ending the year on a high, reporting fee income up 8% from £2.17bn to £2.34bn and underlying profit up 18% to £356m.

Full story: https://economia.icaew.com/news/december-2018/kpmg-uk-hits-highest-growth-rate-since-2008

HMRC can examine taxpayers' personal bank account statements

STEP: HMRC can demand sight of taxpayers' private bank statements if it believes their declared business income does not support their private cash outgoings, the First-tier Tax Tribunal has found.

Full story: https://www.step.org/news/hmrc-can-examine-taxpayers-personal-bank-account-statements

Mills & Reeve enhances international private wealth offering in London with major lateral hire

Mills & Reeve: We are delighted to welcome new partner Sarah Cormack from Withers.  Sarah, who will be based in our London office, specialises in tax, trusts and estate planning for ultra-high net worth international individuals and their families. She has particular expertise in establishing and advising on the holding of assets in multiple jurisdictions, the establishment of private trust companies and tax and structuring for clients who are both resident and non-resident in the UK.

Full story: https://www.mills-reeve.com/mills--reeve-enhances-international-private-wealth-offering-in-london-with-major-lateral-hire-10-01-2018/