Welcome to the Winter 2021 edition of In Trust
10 / 12 / 2020
This is my first issue as the newly appointed Head of the Private Client Team at Wedlake Bell. Part of my role is to ensure that we continue to enhance and develop our service offering. Our team continues to grow and I’d like to take this opportunity to introduce you to some of our up and coming assistant solicitors.
Jack Martin balances his role as a solicitor with a keen interest in fine Art and has recently been awarded a diploma in Art Law. He brings together these two strings of expertise in an article on tax considerations for art collectors and artists.
Solicitor Rebecca Longshaw highlights an important knock-on effect of rising globalisation as we are increasingly finding that inheritances are subject to foreign tax, as well as UK inheritance tax, if the recipient is resident overseas. Rebecca explains what you can do to manage this double tax burden when drafting your Will.
As we adapt to the “new normal” in all aspects of our lives, solicitor Sarah Turner has written a timely piece on the electronic signatures and new remote witnessing rules for Wills and its use during the pandemic.
Also, at senior level, Nick Mendoza has recently joined us, specialising in estate administration and onshore estate planning and is featured in our regular interview column.
Partner Caroline Miller has collaborated with Clive Weber, consultant in our Pensions team, to update you on an important recent case involving transfers between registered pension schemes and the impact for inheritance tax.
Our team benefits from the expertise of two professional support lawyers who keep us updated on legal, technical and regulatory developments. Professional Support Lawyer Sally Spicer examines the new Trust Register rules coming into force in 2022 which will require the vast majority of trusts to register with HMRC.
Speculation continues on when and if tax reforms will be announced in light of the heavy financial cost of Covid-19. Our Stop Press focuses on the recently released report by the Wealth Tax Commission containing proposals to tax individuals and trusts with assets over £500,000. In our new “Quick Brief in Five….” column, solicitor Abigail Pearson sets out some key tax planning pointers for the New Year to help you get your affairs in order ahead of any tax changes.
Also, for those of you that would like to receive updates via podcasts there is the Wedlake Bell Legal Podcast which covers a range of topics https://wedlakebell.com/legal-podcast/.
Please click here to read the digital flipbook of the full issue.
With a hopeful end to the pandemic in the New Year, we wish you all a healthy and prosperous 2021.
Jenny Cutts, Partner, Head of Private Client team