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Liz Nursey shortlisted in Citywealth’s Magic Circle Awards 2019

We’re delighted to announce Liz Nursey, Director, PraxisIFM Trust Limited, has been shortlisted for the Trustee of the Year award in Citywealth’s 2019 Magic Circle Awards. Now in its 14th year, the annual Magic Circle Awards aim to recognise the best advisors and managers in the global industry. The winner...

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UK Budget summary for Private Clients

With the final stages of Brexit negotiations underway, opinion was divided as to whether Philip Hammond would use the Budget to make any significant economic or political announcements. Paul Blackwell and Sandra Francis, Trust Tax Manager, review the implications. In the event, only a few policy statements were made which...

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Trust Exit Tax: Update due

Ahead of the UK Autumn Budget on Monday, Assistant Trust Manager Migle Virbalaite looks back at the judgement made by the European Court of Justice (CJEU) on the Panayi case and outlines the Exit Tax payment plan proposal. In a judgement of the Panayi case (Case C-646/15) delivered last year, the...

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Citywealth IFC Awards 2019

We are delighted to announce that we’ve been nominated for two awards in Citywealth’s IFC Awards 2019. PraxisIFM has been shortlisted for Trust Company of the Year – Guernsey, and Director Matt Litten’s expertise has been recognised as he is on the shortlist for Trustee of the Year – Channel...

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Structuring Trusts For Shari’a Compliant Clients

Increasingly, Muslim high-net-worth-individuals (HNWIs) are considering structuring their assets to deal with estate planning in a Shari’a setting. In addition, non-Shari’a countries are becoming more involved, because such family relocation results in a complex cross-border exercise which is difficult to get right. There is a growing need for efficient management...

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Employment Benefit Arrangements and Disguised Remuneration Update

There have been a number of further significant developments with regard to Employment Benefit Arrangements (EBAs) and their treatment by the UK Government and HMRC which may affect trustees and beneficiaries. The Rangers Case Following the judgement given on 5 July 2017 in the Rangers Case, the Supreme Court resoundingly...

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The Finer Print of the UK Autumn Budget

While on the face of it the recent UK budget announcement by the Chancellor of Exchequer seemed relatively non-threatening, it is perhaps the finer print of the 2017 Autumn Budget that fiduciary businesses and UK-connected individuals and corporates need to take note of which is somewhat less pleasant to digest....

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Abu Dhabi Global Market Launches First Foundations Regime in the UAE

Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, is pleased to launch the first of its kind Foundations regime in support of more effective structures for wealth preservation and wealth management. The ADGM Foundations regime provides a strategic platform for financial planning and structuring, serving as...

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Caron Wallace Promoted To Associate Director At PraxisIFM

A senior audit manager with almost 30 years’ industry experience in financial services has been promoted to associate director at PraxisIFM Trust Limited in Jersey. Caron Wallace joined the firm in 2012 and will focus her attention on risk and regulatory changes. ‘The introduction of automatic exchange of information regimes,...

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Securitisation: The Resurrection

As interest rates in the developed world slide into negative territory, investors’ search for income has presented the securitisation industry with a welcome opportunity to overcome the stigma surrounding the industry resulting from the role mortgage-backed securities played in the 2008 financial crisis. The recent dramatization of the securitisation industry...

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