Private Client

HomeNews & Views › Private Client

Chartered Director status for Isle of Man MD

Managing Director of PraxisIFM in the Isle of Man, Anna Mazzilli, has been awarded Chartered Director status by the Institute of Directors. Chartered Director status recognises the high standards and capabilities that are needed for ensuring that the profession of ‘director’ is understood and placed at the heart of organisational...

Read more

Update on Nerine Group acquisition

We announced last summer that the Nerine Group would be joining the independent financial services group, PraxisIFM, and we are pleased to now provide an update on the work that is taking place to bring the businesses together. It has been a busy period for our Hong Kong office which...

Read more

Making Tax Digital

Making Tax Digital (MTD) is a new initiative from HM Revenue and Customs (HMRC) that is transforming the existing UK tax system. The primary aim of MTD is to make tax administration more efficient and easier for businesses to report their profits and losses closer to ’real time’. It will...

Read more

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...

Read more

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...

Read more

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...

Read more

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...

Read more

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...

Read more

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...

Read more