On 2 September 2025, the UK Government published draft “Money Laundering and Terrorist Financing (Amendment and Miscellaneous Provision) Regulations 2025” (the Regulations), which included proposed amendments to the rules governing the UK’s Trust Registration Service (TRS). These changes aim to
More about Expansion of the UK Trust Registration Service: implications for non-UK trustsWider context Carried interest is a share of profits from an investment that is paid to investment managers and general partners in private equity, venture capital, or hedge funds. It is a performance fee that is paid out to fund
More about Private equity and carried interest: preparing for the new rulesAs we move through the 2025/26 tax year, this edition arrives at a pivotal moment for estate planning and wealth structuring. The government has confirmed significant reforms to the inheritance tax reliefs for agricultural property and business property, due to
More about In Trust – September 2025The government’s original proposals aimed to address concerns that pensions were increasingly being used as strategic estate planning vehicles, rather than encouraging saving for retirement. However, the proposals raised confusion in the industry as it was not clear whether all
More about From nest egg to tax target: Pension funds will no longer be exempt from IHTWhat is “surplus income”? Surplus income is what is left over after deducting an individual’s normal expenditure from their annual after tax income. Normal expenditure is very specific to an individual’s circumstances; ‘normal’ is what is standard and habitual for
More about Unlocking the power of gifts out of surplus incomeWelcome to the May 2025 edition of Globally Speaking, our international e-bulletin for private client, family office, and trustee clients and contacts. As the global private wealth landscape continues to evolve, this issue explores the shifting tax, legal, and geopolitical dynamics
More about Globally Speaking May 2025The word “Shari’ah” sparks curiosity and sometimes misconceptions. Shari’ah is a comprehensive system of ethics, law and guidance in Islam. This article focuses on one of these laws: the Islamic law of inheritance, and how to comply with these laws
More about Shari’ah, and an introduction to Islamic inheritance law
On 6 April 2025, significant changes to the UK tax regime for non-UK domiciled individuals (“non-doms“) and future arrivers into the UK took effect. These reforms were initially announced by the Conservative government in March 2024 but were confirmed, extended
More about Reforms to the UK taxation of individuals and their wealth structures: A summaryIn divorce and financial proceedings, the expenditure budget is a crucial tool. It helps the court determine each spouse’s financial needs and obligations, ensuring a fair maintenance award. Understanding its importance can significantly impact the outcome of your case. Q:
More about The role of expenditure budgets in assessing spousal maintenance in divorce and financial proceedingsThe non-dom reforms first announced in the UK Spring Budget 2024 have since been the subject of intense scrutiny, but not so heavily publicised is the planning opportunity these reforms offer to US persons (a term which includes both US
More about Will the UK trump the US following the April 2025 non-dom reforms?