Increase in foreign nationals applying for 'Tier 1 investor visa' leads to growth of niche market 24/05/2013
According to the UK Home Office, around 470 foreign nationals made a successful application to enter the UK on a ‘Tier 1 investor visa’ in 2012 – and the trend shows no sign of abating. As a condition of entry, applicants must deposit a minimum sum of £1 million, to be invested in Gilts, UK Bonds or UK Equities, and this has created an opportunity for a number of wealth management firms.
Preference for single family offices among Middle East's wealthy - report 23/05/2013
Multi family offices are struggling to compete with private banks and single family offices in the Middle East according to the latest Invesco report.
Women risk pension shortfall with career breaks, research shows 22/05/2013
New research from Duncan Lawrie Private bank has found that women on average earnings who take career breaks could be damaging their pension to the sum of £4,680 a year, by not continuing to contribute to a retirement fund during their time away from work.
ISA investment falls for first time ever 21/05/2013
The amount of money put into ISAs has fallen for the first time ever. The total amount of new subscriptions into ISAs in 2011-12 dropped to £53.5billion, down from £53.7billion the previous year, according to research from accountancy firm UHY Hacker Young.
UHY Hacker Young - Residents of Surrey’s ‘Beverly Hills’ pay highest income tax bills in UK 21/05/2013
Residents of Surrey’s ‘Beverly Hills’ pay the highest income tax bills in UK – more than Cardiff and Newcastle combined.
Recent judgement threatens significant charitable tax relief 20/05/2013
A High Court decision significantly altering local authorities ability to levy ratings on charities sets a dangerous precedent according to Moira Protani at law firm Wilsons.
In-house legal departments set to expand by 2014 18/05/2013
Legal departments’ desire to bring more work in-house is driving the expansion of internal teams in EMEA countries according to research from international legal recruiter Laurence Simons and global bar association, the Association of Corporate Counsel.
Scottish Widows fails in attempt to reclaim £100,000 from disabled child 16/05/2013
Scottish Widows has been told it cannot reclaim £97,626.39 it mistakenly paid to the mother of a disabled child. The money came from a pension pot divided between Natalie McNicholas and her husband as part of the settlement when they divorced in 2010. The Pensions Ombudsman has ruled that Mrs McNicholas does not have to repay the money because the overpayment arose from “maladministration” by Scottish Widows.
HMRC names and shames tax defaulters 16/05/2013
HM Revenue & Customs (HMRC) has published its second list showing details of deliberate tax defaulters (PDDD)
EXCLUSIVE: London & Capital launches Private Investment Office 15/05/2013
eprivateclient can exclusively reveal today that London & Capital, the independently owned discretionary wealth manager, has launched the London & Capital Private Investment Office, to be headed by Iain Tait, a partner at the firm and previous head of UK private clients.