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October 21, 2020

The coronavirus pandemic has hit public finances like a war. Across the world governments have scrambled to offset the economic and social impact of the virus. Huge, and necessary, rises in public spending have pushed government deficits to levels not seen since the two world wars of the 20th century.

The coronavirus pandemic has hit public finances like a war. Across the world governments have scrambled to offset the economic and social impact of the virus. Huge, and necessary, rises in public spending have pushed government deficits to levels not seen since the two world wars of the 20th century.

The numbers are enormous: UK government debt now tops £2 trillion (1). whilst the US owes an eye watering $26 trillion (2). The picture is similar across Europe with many other countries also seeing debt/GDP ratios rising to over 100% (3).

July 10, 2015

UK government proposals to abolish permanent non-domiciled status and reduce the status timeframe to 15 years could lead to “a mass exodus of older money”, a private client lawyer predicts.

UK government proposals to abolish permanent non-domiciled status and reduce the status timeframe to 15 years could lead to “a mass exodus of older money”, a private client lawyer predicts.

Ashley King-Christopher, private wealth and family office partner at Charles Russell Speechlys, said the change to the non-domiciled status was “a surprise that is going to be unhelpful for older money”.

However he added that corporation tax changes could boost the attractiveness of London as a family office centre.

March 21, 2012

British residential property worth more than £2 million (€2.4 million) will be subject to a new 7% stamp duty charge, while a 15% levy will apply to such properties brought via a company.

British residential property worth more than £2 million (€2.4 million) will be subject to a new 7% stamp duty charge, while a 15% levy will apply to such properties brought via a company.

These were among the measures most likely to affect the very wealthy in the UK that were announced as part of Budget 2012.

Described as “a real sting in the tail” by Sophie Dworetzsky, partner in the wealth planning team at international law firm Withers, the 15% stamp duty charge is widely seen as an attempt to crack down on tax duty avoidance.

March 1, 2006

Observers had been convinced he would make it too costly, but Gordon Brown’s thumbs up on the launch of UK real estate investment trusts mean family investors have some new investment options to examine – from both the buy and the sell-side, finds Melanie Stern

Melanie Stern is section editor of Families in Business.

Observers had been convinced he would make it too costly, but Gordon Brown's thumbs up on the launch of UK real estate investment trusts mean family investors have some new investment options to examine – from both the buy and the sell-side, finds Melanie Stern

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