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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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Pre-April 2017 Trusts For Non-UK Domiciled Individuals

As you may know, the much publicised and significant changes to the UK taxation of non-UK domiciled individuals, their estates and their offshore structures are expected to take effect from April 2017. While the format of the proposed changes is now becoming clearer, at PraxisIFM we are mindful that the...

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Maltese Segregated Cell Foundations

Foundations have been a long time staple in the world of estate planning and asset protection, particularly in Civil Law jurisdictions where the Foundation’s separate legal personality is a necessity. In recent years a number of international financial centres have recognised the importance of foundations and the role they can...

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UK Budget Briefing

A summary of the numerous positives and new opportunities for our clients. LONG-TERM NON-DOMICILED INDIVIDUALS Chancellor George Osborne has delivered on his pre-election promise to review the tax regime for non-domiciled UK residents with effect from 6 April 2017, and indeed some seismic changes have been introduced. However, it is...

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Principal Private Residence Review – the Government’s Response

Under current rules, UK residents disposing of their UK home are able to claim Principal Private Residence Relief (PPR) which in the majority of cases will reduce the capital gain on the disposal of their UK home to nil. Individuals with more than one home can elect which home is...

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