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UK Budget update

Yesterday’s UK Budget provided some positive news for our SME clients. Business grants, the stamp duty holiday extension and the still competitive corporation tax rates increases (which are not due to be implemented until 2023 in any event) will be well received. The widely-anticipated stamp duty holiday extension should help...

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PraxisIFM Switzerland trustees win back-to-back in Citywealth IFC Awards

Congratulations to Hakim Berhoune, Director at PraxisIFM Trust SA, who has been named Trustee of the Year – Switzerland in the 2021 Citywealth IFC Awards. This is the second consecutive year that a Director from our Switzerland Trust team has been named Trustee of the Year in their respective category,...

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Global Elite recognition for Martyn and Jonathan

Two PraxisIFM Directors have been featured in the 2021 Private Client Global Elite Directory. Martyn Crespel, Chairman for our UAE operations based in Abu Dhabi and Jonathan Bailey, based in Guernsey, have both been recognised on the Global Elite – Elite Recommends list. Designed to profile the world’s most elite...

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DAC 6 update welcomed

It is good to see some positive news this year for UK-based intermediaries. Following the signing of a new free trade deal with the EU by Prime Minster Boris Johnson, the EU directive DAC 6 ceased to apply in the UK from 11pm on the 31 December 2020. In my...

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PraxisIFM’s expertise recognised with three Citywealth IFC shortlistings

We’re very proud to announce that PraxisIFM has been shortlisted for three Citywealth International Financial Centre (IFC) Awards, highlighting the excellence of the Group’s private client and corporate services in the major international financial centres. The Group’s Guernsey and Hong Kong Trust teams have both been shortlisted for Trust Company...

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Global expansion services and the new UK investment office

A major addition to the UK Government’s ability to attract foreign investment was announced by Prime Minister Boris Johnson last month. The newly-formed Office for Investment will boost the UK’s ability to secure high value investment opportunities which align with the Government’s key priorities. These priorities include reaching net zero greenhouse gas emissions, investment in infrastructure and advancing...

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BVI economic substance – last chance to report

With timing running out before the 29 December 2020 deadline for BVI’s economic substance reporting we’ve taken another look at the requirements. The legislative background Deemed ‘no or nominal tax’ offshore jurisdictions have come under the spotlight in recent years after the EU and OECD introduced initiatives aimed at curtailing...

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PraxisIFM features throughout Business Life’s City Edition

Business Life’s recent City edition takes a closer look at how tech and collaboration are helping to bring the City and Channel Islands closer together. With a strong relationship between our Guernsey, Jersey and London offices, PraxisIFM features several times throughout the edition. In ‘A rich blend’ Managing Director of...

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Asset protection in the post-lockdown environment

In this Q&A Keith discusses how choosing the right jurisdiction for your assets is as important as ever. In your last article, we discussed the risks of exchange controls and other risks to capital protection. Some of the examples you cited sounded quite alarming, for example, waking up one morning...

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2020 Annual Results

The PraxisIFM Group has reported a 7% increase in revenue to £60.5m (2019: £56.3m). In its Annual Results for the year ended 30 April 2020, the financial services group acknowledged the challenges of a difficult 12-month period and outlined the actions taken to refocus the business. The key points from...

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