A&M Taxand Scotland Asset Managers Briefing Note: Volume 7
Volume 7: October 2020
Introduction to A&M Scotland’s newest team member
We are delighted to welcome another new member to our team in Glasgow, Shona MacLachlan, who will expand our private client services and capabilities.
Shona joined A&M Taxand in Glasgow in September to work primarily with the trusts which have recently become clients of our Glasgow Office. She will also assist Susan Ross with private client work.
Shona has more than 35 years of experience advising high net worth individuals and their families, concentrating latterly with the accounting for and taxation of trusts, including inheritance tax reporting and planning. Prior to joining A&M, she spent all of her career with EY in their private client team. Shona’s main objective is to build strong client relationships by giving exceptional client service and, prior to leaving EY, had dealt with some clients for more than 30 years.
A&M Scotland Asset Manager Breakfast Briefing – 4th November 2020
Our next Scotland Asset Manager Breakfast Briefing is due to take place virtually on Wednesday 4th November between 9 and 10am.
Our November Breakfast Briefing will cover:
- A market update from Daniel Parry, Head of Funds Tax;
- A discussion on the recent Call for evidence made by the UK and Scottish Government;
- DAC 6; and
- IR35 rules.
We will be joined by guest speakers from NCM Fund Services who will provide a fund administration update, and Ellis Wilson who will provide a regulatory update.
Please find further details on the event including a link to registration here.
We hope to virtually “see” you there!
Postponed Autumn Budget and Call for evidence on CGT
The Government announced on 23rd September 2020 that there would be no Autumn Budget in November 2020 due to the Covid-19 pandemic. A date for the next Budget has not yet been announced but we would expect this to take place in Spring 2021.
Separately, and as outlined in our August newsletter, the Government instructed the Office of Tax Simplification (“OTS”) to issue a Call for evidence to review Capital Gains Tax ("CGT") in July 2020.
As a reminder, the OTS split this call for evidence into two sections and requested views on the following:
- The principals of CGT and whether its scope and reach in the context of the wider tax system continues to be appropriate (“section 1”); and
- Simplification opportunities across a number of areas which commonly affect individual taxpayers, business owners and investors including rates, reliefs and exemptions and how it interacts with other parts of the tax system (“section 2”).
The deadline for submitting responses to section 2 of the call for evidence has now been postponed from 12th October to 9th November 2020.
If you have any proposals which you would like us to include in our submission, please send them in an email to Jordan Brown.
For a recap of our previous monthly newsletters, please click here where you will be able to find all previous Briefing Notes and information on upcoming events.
