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Opinions and insights from our private client team

 

The New HMRC Trusts Register

Rachael Crocker
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A new raft of anti-money laundering rules has important implications for all trusts, and trustees need to be aware of their new obligations. A new Trusts Register Individuals and trusts are subject to stringent anti-money laundering laws. The EU’s...

Avoid delays in registering your Lasting Power of Attorney - get the wording right

Gemma Hopper
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We have all experienced a delay in registering a Lasting Power of Attorney (LPA) with the Office of the Public Guardian (OPG) which, in most cases, is purely down to the department trying to cope with the steady increase in applications; they no longer seem...

Continuation of the Court of Protection Transparency Pilot

Gemma Hopper
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Continuation of the Court of Protection Transparency Pilot helps families to understand the decisions being made on behalf of vulnerable persons As a solicitor specialising in the Court of Protection, I have spent a large part of my time in Court...

The future of wills

Elizabeth Young
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Roythornes is keenly watching developments in the sphere of wills and the results of the Law Commission’s recently launched consultation on their future. We have to agree that such an essential part of all of our lives, or more to the point, deaths is...

Your inheritance questions answered

Neil Irvine
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If you have received an inheritance within the last two years it’s important to understand the tax implications your inheritance presents. What is a Deed of Variation? A Deed of Variation is a versatile legal document which enables beneficiaries to...

The bank of mum and dad - the future of property finance?

Sarah Banner
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This week, the Resolution Foundation published its report entitled “The generation of wealth: asset accumulation across and within cohorts” which looks at wealth, trends in wealth distribution and how that translates through generations and what...

Probate fees - a planning conundrum!

Fiona Yorath
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There has been a good deal of animated coverage in the press in recent weeks over the proposed probate fees increase.  The fee payable to the Probate Registry on application for the Grant to administer the deceased’s estate is currently set at...

Changes to the Annual Tax on Enveloped Dwellings

Ben Taylor
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Back in July 2016, I wrote about ATED and Mixed Partnerships , highlighting that the threshold on the charge to tax reduced from 1 April 2016. As a reminder, the Annual Tax on Enveloped Dwellings targets interests in high-value residential property held by...

Lasting Powers of Attorney reduction in registration fees

Ben Taylor
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From 1 April 2017, the fee for registration of Lasting Powers of Attorney (LPA) and Enduring Powers of Attorney (EPA) was reduced from £110 to £82. Before an LPA can be used by the attorneys, it needs to be registered with the...

An alternative to trusts?

Robert Webb
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When it comes to tax planning there can often be a temptation to keep up with the Jones’ and enter into the latest new tax planning schemes.  In some cases this may be a sensible move, but in others there is a distinct possibility that you may...

To RNRB or not to RNRB, that is the question.

Ben Taylor
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Back in August, Elizabeth Young wrote about the introduction of the new Residence Nil Rate Band (available here ) and noted some of the limitations, particularly for those who don’t have children and where the estate is worth more than £2m. ...

It's ok , Geoff'll sort it out...

Robert Webb
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As anyone involved in the agricultural sector knows, significant problems can very quickly arise through absence from the ‘hands-on’ business. Thankfully, such absences are usually short-term and although there is a noticeable effect in terms of...

The new Residence Nil Rate Band

Elizabeth Young
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Politics As we anticipate the publication of further detailed rules relating to the new Residence Nil Rate Band (RNRB) it is time to consider how to secure the Conservative Party’s long promised million pound exemption from Inheritance Tax (IHT). It...

Stamp Duty Land Tax and Partnerships

Ben Taylor
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The SDLT legislation applicable to partnerships (which includes partnerships under the Partnership Act 1890 and Limited Liability Partnerships under the 2000 Act) is, in my opinion, the most complex area of the entire SDLT regime. The effect of these...

The Annual Tax on Enveloped Dwellings and Mixed Partnerships

Ben Taylor
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Many of our clients have residential property held within a business structure for one reason or another. Mixed partnerships (i.e. partnerships of individuals and companies) are popular, particularly within the farming industry. Although ATED was brought in...