The UK government has announced plans to centralise anti-money laundering and counter-terrorism financing (AML/CTF) oversight for legal, accountancy, and trust and company service providers (TCSPs) under the Financial Conduct Authority (FCA).
This restructuring follows the 2023 public consultation on reforming the country’s AML supervisory framework. Under the new approach, the Solicitors Regulation Authority (SRA)—currently the largest of the 22 professional bo...
On 26 September 2025, the Swiss Federal Parliament passed the “Swiss Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners” (the “Act”). The Act establishes a central transparency register operated by the Swiss Federal Office of Justice and introduces comprehensive reporting duties for companies, shareholders, beneficial owners, trustees, and certain foreign legal persons with ties to Switzerland. The law, expected to come ...
From 1 September 2025, individuals will be able to request access to trust information contained in the UK’s Register of Overseas Entities that is not otherwise available to the public.
Since its introduction in August 2022, the UK Register of Overseas Entities has required overseas companies owning property in the UK to disclose details of their beneficial owners. Where a trust is involved, additional information about that trust must also be provided.
Until r...
In the Autumn Budget 2024 the government announced changes to agricultural property relief (APR) and business property relief (BPR) from inheritance tax, while mainting fixed the inheritance tax (IHT) nil-rate band for a further two years.
The government will publish a technical consultation by early 2025 with reforms planned for April 2026.
Inheritance Tax (IHT) in England and Wales: exemptions and reliefs
The IHT is a tax payable on the estate of someo...
With Legislative Decree (LD) No. 139 of September 18, 2024 on “Provisions for the rationalization of the registration tax, inheritance and donation tax, stamp duty and other indirect taxes other than VAT”, article 3 par. 4-ter of Legislative Decree No. 346/90 is amended, which dictates the conditions for exemption from inheritance and donation tax for transfers of businesses or branches thereof, company shares and interests made in favour of the spouse and descen...
