This article first appeared in the July 2012 edition of PS, the magazine of the Law Society's Private Client Section (www.lawsociety.org.uk/privateclient). Receiving a Larke v Nugus letter relating to a challenge to a will can be daunting, but responding to such letters quickly and efficiently can help make the process simpler for everyone. Please download the PDF for full article.
News & Comment
New tax measures announced in the UK Budget on 21 March 2012 will change the way in which non-UK residents hold and invest in high value UK residential property.
HM Treasury is currently consulting on the introduction of these taxes which will impact existing and new structures holding UK residential property worth more than £2 million.
Vanessa Kemp and Simon Rees, who are both heavily involved with the firmʹs work with personal injury clients, recently attended the Inter Spinal Unit Games at Stoke Mandeville.
As part of a great day, they had the opportunity to be photographed with the Paralympic torch and Simon presented one of the dayʹs prizes.
The New Quadrant Foundation has also made a donation to WheelPower, a charity focussed on transforming lives through sport, which organise the Games. We intend to support the Games again in the future.
Personal injury trusts and deputyships are an important part of supporting personal injury claimants. We have a team dedicated to providing such personal injury support.
Our size means that we can deliver a very personal but efficient service. Each client and their circumstances are well known to a number of team members.
Personal Injury Trusts
Following the receipt of a compensation award, whether it be an interim or a final award, we can advise on setting up a personal injury trust for the following reasons:
Like London buses, perhaps boutique London private client law firms arrive in threes. Alongside Berkeley Law and Maurice Turnor Gardner, New Quadrant Partners (NQP) complete this triumvirate of bespoke practices solely focused on individuals and families.
eprivateclient visited the firm at their Chancery Lane offices and spoke to NQP’s senior partner Louise Stoten, partner Marcus Parker and director of trust services and member of the PAM Awards Judging Panel, Simon Rees.
We are delighted to announce the appointment of Vanessa Kemp as a Partner with the Firm with effect from 1st November 2011.
We are delighted to announce that senior associate Vanessa Kemp has been included in Private Client Practitioner's Top 35 Under 35. The Top 35 Under 35 is designed to identify, recognise, promote the top 35 female and top 35 male rising stars of the private client professions including lawyers, accountants and other professional advisers
Vanessa joins Zoe Camp and Anna Austen who have both been included in the list in recent years.
Attached is an extract from the Top 35 Under 35 Report kindly provided by PAM Insight.
Making life easier for non-UK doms?
HM Revenue & Customs and HM Treasury have recently issued two consultation documents. The first includes a welcome simplification of some of the complex rules relating to the taxation of non-UK domiciled individuals and what could be a very useful proposal to prevent a taxable remittance on certain investments in the UK. The second is the long awaited statutory definition of UK tax residence.
Commercial investment in the UK
A new statutory residence test has been proposed with effect from 6 April 2012. A consultation period commenced on 17 June 2011 and proposed rules published. For a number of years there has been considerable uncertainty whether a person is or is not resident in the UK so more certain rules are indeed welcome. Do the proposed rules achieve this?
The new proposed test comprises three Parts.
Part A - Definitely not UK resident
You will definitely not be resident in the UK if:
In 2006 the Citywealth Magic Circle Awards were launched. The Awards bring together the industry’s global elite representing over 100 organisations including the leading law firms, trust companies, family offices, investment managers and bankers in the private wealth sector.
The winners of the 2011 Awards were announced at the Citywealth Magic Awards and Leaders List Dinner on 12th May 2011 with over 350 of the leading managers and advisors attending. The dinner was hosted by Gyles Brandreth.
In all we were nominated for five awards: