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Our Divorce and Family Law Team are The Herald's new Divorce Doctorshttp://www.turcanconnell.com/media/news/2013/05/our-divorce-and-family-law-team-are-the-heralds-divorce-doctors/Thursday, 16 May 2013http://www.turcanconnell.comhttp://www.turcanconnell.com/media/news/2013/05/our-divorce-and-family-law-team-are-the-heralds-divorce-doctors/Our Divorce and Family Law Team have joined with The Herald to offer a fortnightly online question and answer forum for individuals with a family law dilemma. Whether you are struggling with the legal complications of an acrimonious divorce, or require advice on matters relating to children and shared assets, The Divorce Doctors will be available to answer your questions.In this edition, we explore whether it is possible to stay amicable during the painful process of divorce.Visit the website to find out more, or click here to submit your question via email.

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Bob Hair discusses ban on employers using pensions to pay consultants in The Scotsmanhttp://www.turcanconnell.com/media/news/2013/05/bob-hair-discusses-ban-on-employers-using-pensions-to-pay-consultants-in-the-scotsman/Monday, 13 May 2013http://www.turcanconnell.comhttp://www.turcanconnell.com/media/news/2013/05/bob-hair-discusses-ban-on-employers-using-pensions-to-pay-consultants-in-the-scotsman/In an article in The Scotsman, Bob Hair discusses pension charges and auto-enrolment with Jeff Salway. Employers are to be barred from using workers’ pensions to cover consultant costs as part of a crackdown on pension charges set out yesterday. The ban of consultancy charging was one of several measures confirmed by pensions minister Steve Webb, who also laid the ground for a cap on certain pension fees.The government acted following fears that consultancy charges were undermining landmark reforms aimed at arresting a dramatic decline in UK pension savings.Under automatic enrolment, which began last October, millions of people are being shifted into workplace pensions, with the right to opt out. More than ten million people will be paying into a pension for the first time as a result.However, the money they pay into those pensions can currently be used by employers to cover the costs of advice from consultants, eroding potentially significant chunks of pension savings.Employers are being charged up to £450 per member in the first year and then £60 annually afterwards, according to research by consumer group Which?, costs that are passed on to employees through consultancy charges.It said that in some cases an employee paying £100 a month into their workplace pension could be left with a pension pot of just £795 after their first year, once the upfront consultancy charges have been taken.Consultancy charging means workers are simply saving money for their employers at their own expense, said Bob Hair, executive director and head of financial planning at Turcan Connell Asset Management.“There is rarely any advice provided direct to the individual members, but one way or another the value of their pension fund is being reduced by the payment of commission to the adviser by the pension provider.“If no cost is passed on to the employer then it could be argued that workers’ pensions are being used to save the company money.”To read the article in full, click here.

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Tenancy Deposit Schemes - Landlords cutting it finehttp://www.turcanconnell.com/media/blog/2013/05/tenancy-deposit-schemes-landlords-cutting-it-fine/Monday, 13 May 2013http://www.turcanconnell.comhttp://www.turcanconnell.com/media/blog/2013/05/tenancy-deposit-schemes-landlords-cutting-it-fine/From Wednesday 15th May this year, all eligible deposits from privately rented properties must be lodged with one of three government-approved tenancy deposit schemes in compliance with the policy set out in the Tenancy Deposit Schemes (Scotland) Regulations 2011. The scheme was introduced by the Scottish Government to protect tenants’ money and put a stop to certain rogue landlords' underhand practice of withholding money on false grounds. However, new research commissioned by SafeDeposits Scotland has revealed that more than half of all deposits from private tenants may not yet have been secured, leaving thousands of landlords under threat of hefty fines and legal repercussions.SafeDeposits Scotland, one of the approved schemes, said 129,164 deposits were submitted to all three schemes by the end of March. This compares to a potential 291,190 approved properties whose owners signed up for the scheme.This worrying revelation has been met with concern from scheme administrators, as the imminent deadline has failed to generate the anticipated urgency within the private rental sector.Landlords across the country are urged to act now to ensure regulatory requirements are met, or prepare to face the consequences.Both landlords and tenants can find information at any of the Schemes’ websites - www.safedepositsscotland.comwww.lettingprotectionscotland.com   www.mydepositsscotland.co.uk

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Essential checklist for the new UK residence ruleshttp://www.turcanconnell.com/media/blog/2013/05/essential-checklist-for-the-new-uk-residence-rules/Tuesday, 07 May 2013http://www.turcanconnell.comhttp://www.turcanconnell.com/media/blog/2013/05/essential-checklist-for-the-new-uk-residence-rules/Donald Simpson explains the small print in the new statutory residence test which all expats must sit for HMRC’s marking. The new statutory residence test (SRT) for the UK has been finalised by Parliament and applies from 6th April 2013. The SRT embraces automatic tests to establish whether an expatriate’s status will be labelled ‘non-residence’ or ‘residence‘ for tax purposes. If you satisfy any of the automatic tests then you have certainty on your position for that tax year. Where none of the automatic tests are satisfied, the situtation becomes more complicated and requires your 'ties' to the UK to be identified. Step 1 – Automatic non-UK residence tests Check to see if you satisfy any of these tests for being automatically resident outside the UK for any particular tax year. If you have been UK resident in any of the three previous tax years, then you are automatically non-UK resident if you spend less than 16 days in the UK in the tax year. If you have been non-UK resident for the three previous tax years and spend 45 days or less in the UK in the tax year then you are automatically non-UK resident. If you are leaving the UK to take up a full time job abroad, providing you have no breaks in employment of 31 days or more, and do not spend more than 91 days back in the UK (of which fewer than 31 days are spent working in the UK for more than 3 hours) then you are automatically non-UK resident. Special rules apply if you die during the tax year. Step 2 – Automatic UK residence tests If the tests for automatic non-UK residence are not met, you then apply your circumstances to test for automatic UK residence. This will be met: If you spend 183 days or more in the UK in the tax year then you are automatically UK resident If you have a home in the UK for more than 90 days, and you spend any time at all there on at least 30 days in the tax year, and while you have your UK home there is a period of 91 days, at least one day of which falls within the tax year when you either have no home overseas, or you have a home overseas but you are present there on fewer than 30 days in the tax year, then you are automatically UK resident. If you work full time in the UK for 365 days with no significant breaks (at least 31 days) and all or part of the 365 days falls within the tax year, and more than 75% of the days in the tax year in which you do more than 3 hours work are in the UK, then you are automatically UK resident. Special rules apply if you die during the tax year. Step 3 – Determine connecting ties to the UK If the automatic tests are inconclusive in determining your residence, your ties to the UK are examined. The connecting factors examined for each tax year are: Family Tie - if your spouse or civil partner (from whom you are not separated), your cohabitant, or your child under the age of 18 is UK resident in the tax year. Accommodation Tie  -  if you have a place to live in the UK which is available for at least 91 days continuously during the tax year and you spend at least one night there. Work Tie  - if you work in the UK for at least 40 days in the tax year (working more than 3 hours per day). 90 Day Tie - if you spent more than 90 days in the UK in either or both the two previous tax years. Country Tie - if in the tax year you are present at midnight in the UK on more days than in any other country (only applies if you have been UK resident in any of the three previous tax years). Each of these ties has peculiarities on its interpretation and application. For example, the availability of accommodation in the UK is different to having a house in the UK. Minor children who are in the UK for education are ignored for the purposes of the family tie providing the child spends fewer than 21 days in the UK outside of term time. It is important to take advice to correctly determine your connecting ties as they impact on your residence status. Step 4 – Consider your residence for the previous three tax years The SRT legislation permits those who have not been UK resident in any of the three previous tax years to spend more days in the UK before being classed as UK resident. It is therefore important to determine your UK residence history. To do so, you must apply the residence rules which applied in those earlier tax years. For tax years before 2013/14 it is the old rules which apply and not the new SRT – but you can elect for the SRT to apply to these tax years. Step 5 – Maximum days in the UK before being UK resident Based on the number of days in which you are in the UK in a particular tax year, the SRT legislation sets out how many ties would make you UK resident. Of more use is to identify your connecting ties, which then determines the number of days you can spend in the UK before becoming UK resident.If you have been UK resident in any of the three previous tax years then the maximum number of days you can spend in the UK in a tax year without being UK resident is: Number of ties      Maximum days in UK before being UK resident At least 4                  15 3                               45 2                               90 1                               119 If you have not been UK resident in any of the three previous tax years then the maximum number of days you can spend in the UK in a tax year and still be non-UK resident is: Number of ties       Maximum days in UK before being UK resident All 4*                         45 3                               90 2                               120 1                               182 *In these circumstances the country tie is not relevant so the maximum number of ties is 4. Summary The automatic non-UK residence tests give certainty to expats who fulfil the criteria to be automatically non-UK resident.If you do not satisfy the automatic non-UK residence tests, it is essential to correctly identify your connecting ties to the UK. You should review your ties each tax year and when circumstances change during a tax year, and where appropriate, seek to reduce UK connecting factors. Given the peculiarities in the legislation on the application of the ties, advice should be taken on your position where there is any uncertainty over whether particular ties are applicable to you.This article appeared on www.expatmoneychannel.com

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How would financial services regulation operate in an independent Scotland?http://www.turcanconnell.com/media/2014-scottish-independence-referendum/2013/05/how-would-financial-services-regulation-operate-in-an-independent-scotland/Wednesday, 01 May 2013http://www.turcanconnell.comhttp://www.turcanconnell.com/media/2014-scottish-independence-referendum/2013/05/how-would-financial-services-regulation-operate-in-an-independent-scotland/This question is central both at an economic level –  Scotland is home to many banks, insurers and money managers – as well as at a personal level, since we all have to deal with these industries throughout our lives. However there is much uncertainty at the moment as to the shape of any eventual settlement. Holyrood’s Finance Minister John Swinney has indicated the Scottish government's preference for remaining within the UKs’ regulatory framework under the Bank of England. The attraction of this for consumers would be the continuity and confidence that accompanies an existing and functioning regulatory framework. For Scotland's financial industry, a single authority would ease the regulatory burden considering many Scottish companies do the majority of their business in England. There are significant challenges to this proposal: Using the UK’s regulatory system would require an accommodation on the part of the governing authorities in London that might not be forthcoming, There is no indication yet of how Scotland might be allowed to influence the UK’s framework. A conflict could occur where a regulatory decision made in London required a financial outlay from the Scottish government (for example, a Scottish bank requiring a bailout). Some commentators have also suggested that European Union law requires member states to have their own regulatory framework and this plan therefore would not be acceptable at EU level.