Unexplained Wealth Orders: How might this new investigative tool affect you?

From 31 January 2018, UK authorities can use new and expansive investigative powers to require both individuals and corporate bodies to provide information as to how they acquired property. Known as Unexplained Wealth Orders (“UWOs”), these new obligations to disclose information can apply to property anywhere in the world and can be served on persons … Read more

ENGLISH HIGH COURT FINDS SETTLOR RETAINED BENEFICIAL OWNERSHIP

In the latest decision in the long running Pugachev dispute, the High Court considered the effect of five trusts set up by Mr Pugachev, and whether the trusts were shams. Birss J held that he would have been prepared to declare the five trusts shams, but on the true interpretation of the trust documents and … Read more

Private Groups and Trusts under ATO scrutiny

The ATO in Australia continues to target privately owned and wealthy groups, with specific focus on groups with risky trust structures that exhibit characteristics of tax avoidance or evasion. Read more