London law firm opens new office in Cayman Islands as firm believes tax haven is central to ‘new economy’ April 9, 2022 London law firm Chancery Advisors has opened a new office in the Cayman Islands, describing the location as “critical to the new economy.” The City of London law firm said that opening new offices in what has historically been known as a tax haven will help it facilitate offshore hedge funds and activist investors in [...]
Campaigners win High Court bid to quash planning permission for Holocaust memorial outside Parliament April 8, 2022 Campaigners have won a High Court bid to quash planning permission for a national Holocaust memorial outside Parliament. The London Historic Parks and Gardens Trust is opposed to a new UK Holocaust Memorial and Learning Centre being built in Victoria Tower Gardens, a small triangular Grade II-listed park next to Westminster Abbey and the Palace [...]
Solicitor and bar partner sentenced to years in prison for money laundering in organised crime timeshare scam April 8, 2022 A former British solicitor and his partner, a bar owner on the Costa Del Sol, have been sentenced to a total of four and a half years for laundering organised crime money related to a fraudulent timeshare scheme. Judge Cambell sentenced St Helens based Anthony Lea to 3 years in prison, and Ian Hollis to 18 months, [...]
Internal Conservative spat implodes as party donor issues libel suit against former ‘Baywatch’ Tory MP Charlotte Leslie April 8, 2022 Conservative Party donor Mohamed Amersi said this morning he has issued libel proceedings against the Conservative Middle East Council (CMEC) and former Tory MP Charlotte Leslie, often dubbed the ‘Baywatch’ MP because of her looks. Amersi previously sought, through data protection legislation, to get the High Court to determine whether there is further personal data [...]
Hogan Lovells hikes NQ pay to match London’s Magic Circle April 7, 2022 Anglo-American law firm Hogan Lovells has put itself on par with the Magic Circle in hiking salaries paid out to its newly-qualified lawyers to £107,500 a year. The law firm is set to give its freshly trained lawyers a 7.5 per cent pay boost after upping their salaries from £100,000. The pay hike puts Hogan [...]
High Court judge says it would be unfair to force Ukrainian billionaires to fight $4.2bn fraud trial April 7, 2022 A High Court Judge has halted a $4.2bn fraud trial after claiming it would be unfair to force two of Ukraine’s richest men to fight the court battle due to Russia’s invasion of Ukraine. The High Court Judge adjourned the court battle between Ukraine’s biggest bank, Privatbank, and Ukrainian billionaires Gennadiy Bogolyubov and Ihor Kolomoisky, [...]
Lawyers cast doubt over claims Sunak’s wife’s ‘non-dom’ status has nothing to do with tax benefits April 7, 2022 Tax lawyers have cast doubts over claims that Rishi Sunak’s wife is not using her “non-dom” status for tax benefits. Lawyers countered claims that billionaire heiress Akshata Murthy’s non-domicile status is linked to her Indian nationality, after pointing out domicile has “nothing to do with citizenship” under UK law. The tax experts noted that Murthy’s [...]
Grant Thornton partners see pay boosted by 35 per cent following boom in M&A activity April 7, 2022 Partners at Grant Thornton saw their pay jump 35 per cent last year after the London accountancy firm posted bumper profits on the back of a boom in mergers and acquisitions. Average profits earned by partners at accountancy giant Grant Thornton jumped from £451,000 in 2020 to highs of £611,000 in 2021. The 35 per [...]
US audit watchdog hits former KPMG exec with largest ever fine for role in leaked info scandal April 7, 2022 The body that regulates the US audit industry has fined a former KPMG executive $100,000, after pledging to crack down on “top-level personnel” in America’s biggest accountancy firms. The US Public Company Accounting Oversight Board (PCAOB) issued a $100,000 fine to former KPMG vice chair of audit Scott Marcello, over his failure to prevent [...]
Rishi Sunak’s wife hits back at claims she uses non-dom status to avoid paying UK taxes April 6, 2022 Rishi Sunak’s wife has hit back at claims that she took up “non-dom” status to avoid paying UK taxes. Akshata Murthy, the daughter of Indian tech billionaire N.R. Narayana Murthy, has claimed she has been forced to take up “non-domicile” status, due to not being able to hold dual citizenship under Indian law. The billionaire [...]