Spotlight on private wealth - December 2020

Our quarterly update is designed to keep you up to speed with developments in the private wealth world.

In this edition we explore cybercrime, key trends in the art world and a knotty problem concerning nieces and nephews. If you have any feedback on this update or would like to know more about the issues covered, or anything else, please get in touch.

Explore the latest edition

The big question

Looking back at 2020 and ahead to 2021- what are the key trends in the art world?

The COVID-19 pandemic has had a major impact on the art market in 2020. Auctions and art fairs moved online and galleries closed their doors for a substantial portion of the year, with mixed success. Sothebys doubled the average value of items sold in online sales and many galleries reported that they had reached a new generation of buyers. However, there were signs that buyers were not prepared to purchase “big ticket” pieces without seeing them in “real life”. Read more

What's new?

• Nieces, nephews and knotty problems. Read more
• Number of arrests by HMRC drops to a five-year low. Read more

RPC asks

• Family businesses – when will the court intervene? Read more
• Cyber-crime in the age of Covid – on the rise? Read more
• Can constructive trusts operate in a commercial context? Read more

And in the art world

• Taxing matters. Read more