United Kingdom, Forsters LLP updates

Private Client & Offshore Services

Contributed by Forsters LLP
New online verification service for lasting powers of attorney
  • United Kingdom
  • 10 September 2020

The Office of the Public Guardian recently launched its online service "Use a lasting power of attorney". This service enables attorneys to prove their status to service providers, such as banks or healthcare providers, by providing them with online access to a summary of the relevant lasting power of attorney (LPA). The principal benefit of the service is that it will speed up the process of verifying an LPA so that it can be used by an attorney to support a donor.

Video-witnessed wills: new legislation
  • United Kingdom
  • 27 August 2020

The government has announced that it will introduce a temporary change in the law to allow wills to be witnessed using video technology during the COVID-19 pandemic. The announcement has been welcomed as a necessary response to the pandemic. Some wills are being made with a particular sense of urgency and social distancing measures have meant that the requirement for witnesses to be physically present can be an obstacle.

Government response to 5MLD and Trust Registration Service consultation welcomed
  • United Kingdom
  • 20 August 2020

The government has published its response to the technical consultation on the implementation of the EU Fifth Money Laundering Directive (5MLD) and the Trust Registration Service (TRS). The government appreciated that the broad scope of the changes to the TRS proposed in 5MLD raised concerns in the United Kingdom, and this understanding was reflected in its technical consultation.

Family governance in the digital age
  • United Kingdom
  • 06 August 2020

The COVID-19 pandemic has had two major implications for family governance structures. In the short term, travel restrictions and health risks have prevented business as usual for the foreseeable future. In the long term, the increasing use of digital communication by families and their professional advisers is disrupting governance structures in some cases. This article provides a practical checklist for family governance in the post-COVID-19 world.

HMRC nudge letters
  • United Kingdom
  • 25 June 2020

The implementation of the Common Reporting Standard and other data exchange regimes means that Her Majesty's Revenue and Customs (HMRC) is receiving substantial information about the global tax affairs of persons with connections to the United Kingdom, which will enable it to target those who may have failed to declare all of their tax liabilities accurately. One way in which HMRC is following up on the information obtained is through nudge letters, which it continues to issue despite the COVID-19 crisis.

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