In Trust Summer 2018
16 / 07 / 2018
Welcome From the Editor
A warm welcome to the Summer 2018 edition of In Trust. Through increasing globalisation, we are seeing an ever growing number of our clients with international connections and assets in multiple jurisdictions. This issue has an international theme and introduces some topics of interest to any clients with cross-border connections.
We start by looking at tax compliance for clients with offshore assets. Head of the Private Client Group, Camilla Wallace, explains the government’s “Requirement to Correct” regime for UK taxpayers with offshore assets and why all clients should check before 30 September 2018 that their UK tax affairs in respect of any offshore assets are up to date.
On your checklist if you have assets in another country should be advice in respect of Wills and Powers of Attorney. Jenny Cutts discusses Wills for international clients and how UK clients with assets in the EU can take advantage of harmonised succession rules across the EU, despite Brexit. Ann Stanyer explores international Powers of Attorney and how to ensure your attorneys’ authority will be recognised in every country in which you hold assets.
For those clients looking to settle in the UK, Head of Immigration Julia Jackson discusses obtaining “indefinite leave to remain” in cases where the applicant is spending periods of absence from the UK. Acquiring citizenship does not mean that you acquire a UK domicile for inheritance and tax purposes.
In her article, Jemma Goddard explores why domicile has an impact on those individuals seeking to challenge a deceased person’s Will.
Those clients with connections to the US may be interested in our “Ask Ollie” column as Oliver Embley answers a reader’s question on the key UK/US estate planning issues to be aware of; and this edition’s “In Profile” is with senior associate and offshore specialist Clare Armitage on the international elements of her practice.
Whilst taking multi-jurisdictional advice will often be key, we understand that seeking out lawyers in other countries can be difficult. Wedlake Bell has links with 25 European countries, over 70 law firms across the US, Canada, South and Central America, and strong links with law firms in India. We can put you in touch with lawyers in the right jurisdiction and coordinate advice where needed. We look forward to advising you soon.