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Tax and Jurisdictions

HM Revenue & Customs’ powers to obtain information from financial institutions are set to increase, with the requirement for taxpayer or tribunal approval to be removed. Although not yet in force, the legislation is at an advanced stage and will be of interest to family offices.

HM Revenue & Customs’ powers to obtain information from financial institutions are set to increase, with the requirement for taxpayer or tribunal approval to be removed. Although not yet in force, the legislation is at an advanced stage and will be of interest to family offices.

A decade-old, blockchain technology is facing an inflection point. A few years ago it was easy to find people who were evangelically enthusiastic about it. A 2015 World Economic Forum survey of more than 800 executives and experts from the information and communications technology sector found the majority believed that by 2027, 10% of global GDP would be stored on blockchain technology.

A decade-old, blockchain technology is facing an inflection point. A few years ago it was easy to find people who were evangelically enthusiastic about it. A 2015 World Economic Forum survey of more than 800 executives and experts from the information and communications technology sector found the majority believed that by 2027, 10% of global GDP would be stored on blockchain technology.

In late February, news broke that HM Revenue and Customs (HMRC) has set up a new team to investigate the use of Family Investment Companies (FICS) with a focus on Inheritance Tax (IHT).

In late February, news broke that HM Revenue and Customs (HMRC) has set up a new team to investigate the use of Family Investment Companies (FICS) with a focus on Inheritance Tax (IHT).

Paul and Wesley Karger founded TwinFocus Capital in 2006 to offer global ultra-high net worth professional investors, entrepreneurs and families a unique single family office feel within a multifamily office setting: the “multi-single family office”.

Paul and Wesley Karger founded TwinFocus Capital in 2006 to offer global ultra-high net worth professional investors, entrepreneurs and families a unique single family office feel within a multifamily office setting: the “multi-single family office”.

Families are being advised to get their financial affairs in order and brace for an increase in tax bills following the revelation the UK’s tax authority set up a secret unit to probe family investment companies, specifically their use by the wealthy to avoid inheritance tax.

Families are being advised to get their financial affairs in order and brace for an increase in tax bills following the revelation the UK’s tax authority set up a secret unit to probe family investment companies, specifically their use by the wealthy to avoid inheritance tax.