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Burnham urged to tax wealthy pensioners

Andy Burnham should raise taxes on wealthy pensioners to rescue the public finances, Labour’s favourite think tank has urged.   The Institute for Public Policy Research (IPPR) called on the Prime Minister to introduce National Insurance on pensioners’ incomes to shield workers from further levies.   Economists said in a new report that the policy, […]

New Chinese Mainland offshore trust tax regime: immediate implications for settlors, beneficiaries and trustees

On 24 July 2026, the PRC Ministry of Finance and State Taxation Administration issued sweeping new regulations governing the taxation of offshore trusts, which represent one of the most significant developments affecting Chinese Mainland-linked offshore wealth structures in recent years (the 'Announcement').    Rather than targeting a single aspect of trust planning, the Announcement creates […]

Macfarlanes advises Canaccord Wealth on acquisition of EFG Harris Allday

Macfarlanes has advised wealth management firm Canaccord Wealth on the acquisition of the front office teams and client assets of EFG Harris Allday from EFG International.  EFG Harris Allday is a UK wealth management firm primarily serving high-net-worth individuals across the Midlands region.    The business currently sits within EFG Private Bank, itself a subsidiary […]

PIMFA raises concerns over FCA’s disclosures plan

PIMFA has raised concerns over the FCA’s Simplifying Consumer Investment Disclosures consultation.   The regulator is seeking to make improvements to the rules around the disclosures required to sell investment products and services to retail investors.   PIMFA said it is ‘supportive’ of the FCA’s objective of simplifying disclosures, but believes some of the proposals […]