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All offshore trust companies with any UK nexus should consider their UK exposure and the position of their trusteeships given the extremely detrimental tax effects that can arise through a determination of UK fiscal residency. The guidance also is very relevant, Withers says, in the context of private trust companies with UK resident directors.

There are significant changes in the taxation of non-UK domiciled individuals. This question-and-answer document from KPMG LLP provides a quick overview of these changes as well as the impact on those affected.

A client alert from Baker & McKenzie offers insight into HMRC's draft guidance setting out the agency's view on the application of the new trustee residency rules to non-UK resident corporate trustees.

The answer to whether to establish a Roth account or to roll over a traditional retirement account to a Roth is not always obvious because of the upfront tax cost associated with the Roth. Whether an individual reaps an offsetting benefit will depend on how long money remains in the account, the tax rates in effect when it is withdrawn and how the ...

Meeting significant charitable goals efficiently creates a disproportionate need for the characteristics inherent in liquid, public securities. Increasing the allocation to liquid asset classes from 29% to 75% on a tax-managed basis can generate comparable returns to the endowment model after taxes while maintaining the flexibility needed to handle...

Many private enterprises are just beginning to understand the changes necessitated by these rules and their implications. This is important, as preparation of annual financial statements that are subject to the rules involves a review and analysis of accumulated tax positions. Private enterprises can benefit from the accumulated experience of publi...

Research demonstrates that even large pools of recognized losses may be depleted in a rather short period of time if the investor loses focus on tax management. The longer the investor can expand this window of time by continuing to actively manage their tax situation, the greater the potential opportunity for total wealth creation in the long term...

Planning can help reduce a client's tax liability and mitigate the unpleasantness of surprises when tax returns are filed. This is a valuable service advisors can offer clients, and because proper tax planning requires a discussion of a client's entire financial picture, it also can serve as a catalyst to broaden the scope of relationships with cli...

Given the relatively low current tax rates, changing executive and legislative control and the increasing need for government revenue, there is a distinct possibility of a capital gains tax rate increase. Knowing this, individuals may be wise to suspend the common practice always to defer taxation.

A new paper from Withers examines a privy council decision upholding, in large part, a post-nuptial agreement made by a wealthy couple. Given the landmark decision in MacLeod v MacLeod, the authors say, some couples may want to clarify the financial arrangements between them by entering into a post-nuptial agreement.

Recent tax court cases have shown the ongoing administration of family limited partnerships is as important as making sure the transaction was properly structured at the outset. Withers Bergman says the family office is a natural fit for ensuring such administration because of its day-to-day involvement with family members and their holdings.

Taxes may always be with us, but not necessarily in the same way depending on where we live. Deutsche Bank takes a global look at income tax, comparing tax scales, types of deductions and tax systems from one country to another.

An inherited fortune may come with strings attached as wealthy families make a college education or job experience a condition of inheritance. About 60 percent of families with more than $10 million in assets place stipulations like these, according to a report on attaining and retaining wealth from Barclays Wealth. The report also discusses the im...

In response to representations made since the Pre-Budget Report, HMRC announced that the draft legislation released in December and, in particular, the definition of a "bank" did not actually reflect their intentions and that the legislation will be substantially amended in this regard. Withers Worldwide provides a summary of the amendments and the...

Gifting may be the place to start in planning a long-term estate planning strategy, according to this paper from Wells Fargo. While gifting can be useful in transferring tax savings, it also can provide a real-time snapshot of the estate plan by allowing the giver to see how beneficiaries accept and respond to the gifts and then to change the estat...