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Opinions and insights from our private client team

 

Recent case rules in favour of agricultural property relief for elderly farmer

Ben Taylor
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The recent case of Charnley and another v HMRC [2019] has seen the law firmly placed on the side of the farmer in this important appeal against HMRC. Ben Taylor, solicitor at Roythornes Solicitors , looks at why this is significant. Grazing...

What happens if I have no will?

Joseph Stoehr
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If you don’t have a will yet, you’re not alone.  It was recently estimated that somewhere between 50% and 60% of adults in the UK do not have one.  Many assume their loved ones will automatically inherit their estate - but that’s...

A space to live or just a space?

Carolyn Byrne
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A taxpayer has won an important victory over HM Revenue & Customs (HMRC) in a case involving a claim for principal private residence (PPR) relief.  Had HMRC’s view been upheld it would have meant that it was possible to “occupy” a...

Computer says no?

Carolyn Byrne
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Whilst some of us were spending Halloween ‘trick or treating’, HM Revenue & Customs (HMRC) were carving out a Technical Note which sought the introduction of legislation to confirm the legitimacy of using automated processes for serving...

Recommendations for the Residence Nil Rate Band

Abbie Boon
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A chapter in the recent Office of Tax Simplification’s (OTS) report, “Simplifying Inheritance Tax”, is dedicated to the Residence Nil Rate Band. This was much anticipated by our Private Client team as it is a complex area of Inheritance Tax...

New year - new Trust Registration Service

Carolyn Byrne
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Trustees need to be aware of changes to HM Revenue & Customs’ existing Trust Registration Service (TRS) that are due to come into force early next year and which may have a wide-reaching impact upon trust compliance requirements.  Background...

FAQs: Lasting Powers of Attorney

Jennifer Valentine
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Most of us understand the importance of making a will in order to ensure that our affairs are taken care of as we intended on our death.  However, less of us consider the importance of Lasting Powers of Attorney (LPAs) and what would happen if we are no...

Proposed off-payroll working changes

Carolyn Byrne
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Whilst the uncertainties and dramas surrounding Brexit seem to be dominating the attention of Parliament (and the headlines!), in the background the draft Finance Bill 2019/20 is slowly making the rounds.  The bill contains important changes to...

Homemade wills - worth the risk?

Jennifer Valentine
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A will is one of the most important documents you will ever make, but many people are turning their back on the conventional method of seeing a solicitor and, instead, preparing their own homemade versions.  Although homemade wills are inexpensive, the...

Non-Contentious Probate Fees Order 2018 - a sigh of relief?

Esther Woodhouse
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As Brexit continues to take centre stage in the headlines and with the recent discontinuation of Parliament, it is not surprising that the Non-Contentious Probate Fees Order 2018 has been languishing in the House of Commons since April 2019.  However,...

"Terrible burden" to be lifted from families with missing relatives

Elizabeth Young
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The long-awaited introduction of The Guardianship (Missing Persons) Act 2017 will relieve “a terrible burden” on the families of missing people. Introduced in July 2019, the Act is intended to relieve the legal burden on the families of...

Buying and selling your home: Capital Gains Tax and Stamp Duty Land Tax

Ben Taylor
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When it comes to buying or selling your home , there are two important taxes to bear in mind: Capital Gains Tax (CGT) and Stamp Duty Land Tax (SDLT). Recent case law has highlighted arguably a growing difference in the approach to these taxes at HMRC in...

A parents' guide to assisting a child in a house purchase

Abbie Boon
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With the average house price having increased over 40% over the last 10 years*, it is increasingly common for loved ones to assist when buying property . It is important that the terms of this assistance are agreed in principle, advice taken and terms...

What to do if someone dies abroad

Rhiannon Coleman
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When a loved one dies abroad it can be difficult to know where to start, particularly if you are new to the estate administration process and are having to deal with an unfamiliar system in stressful circumstances. Who should you inform when someone dies...

Changes to Capital Gains Tax on the sale of residential property

Carolyn Byrne
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Thinking of selling your home? Don’t get caught out by the latest changes to Capital Gains Tax from HMRC. In this blog, Carolyn Byrne highlights the key facts and explains who needs to be the most vigilant when it comes to future property sales. ...

DIY probate VS using a lawyer

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DIY probate application Much has been written and spoken about the proposed hike in probate fees recently – likely to cost families, they say, £145m in the first year.  ‘They’ say the reason for the increase is to modernise...

Bereavement and estate administration - are you struggling to know where to start?

Esther Woodhouse
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Bereavement is an emotive subject and certainly not something any of us likes to talk about but, sadly, it is an inevitable fact of life.  When this actually happens to your family or a close friend there is undoubtedly nothing that can fully prepare...

Grant of probate fees are expected to rise

Tamsyn Lees
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Following Elizabeth Young’ s blog back in November 2018 , an increase in fees for applying for a grant of probate is still expected - but not for a least another 21 days. So, in preparation, what will this mean for executors making an application...

Inheritance Tax hacks - plan now to reduce your liability

Elizabeth Young
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Much of my time is spent advising on Inheritance Tax (IHT) and the ways in which people can reduce their liability. After all, IHT is very often viewed as a voluntary tax as there are legitimate ways in which the liability can be reduced and, in some cases,...

Understanding the role of an executor

Naomi Message
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End of life planning is something that we all have to do. As an individual, a will is arguably one of the most important documents we have to create, so it's worth taking the time to get it right and understand the different elements.   It is...

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