REGULATION – Company ownership register will name ‘controlling’ trust beneficiaries

REGULATION – Company ownership register will name ‘controlling’ trust beneficiaries This week the government published details of its plans for an open registry of company beneficial ownership. Where companies are owned by a trust, persons who exercise ‘effective control’ over the trust’s activities must be identified on the register, thus excluding children and vulnerable adults…

Expert questions UK chancellor’s proposed ‘strict liability’ criminal offence for taxable funds held offshore

Expert questions UK chancellor’s proposed ‘strict liability’ criminal offence for taxable funds held offshore It would be disproportionate to introduce automatic unlimited fines and prison sentences for UK taxpayers with offshore assets on which they have not paid the correct taxes, as trailed by the Chancellor of the Exchequer at the weekend, an expert has…

Protecting your digital legacy

Testators are increasingly being advised to leave clear instructions about their ‘digital legacies’ after their death. The latest organisation to stress the importance of online assets is the Law Society. It recommends that people should, at the very least, keep an up-to-date list of all their online accounts, such as email, banking, investments and social…