Roythornes blogs
Roythornes Spalding office
Services
People
News and Events
Other
Blogs

Private Client blog

Opinions and insights from our private client team

 

Are People Becoming More Reliant on Their Inheritance?

Tim Russ
  • Posted
  • Author

Will and inheritance claims have been significantly increasing for many years now. According to the Ministry of Justice reporting in the Times last year, in 2016, the number of individuals seeking to claim a share or a larger proportion of a deceased...

A New Tax on Wealth

Ben Taylor
  • Posted
  • Author

A new tax on wealth is being considered and a report by The Wealth Tax Commission has been released this month making recommendations to the Government.  To find out how such changes could affect you as a taxpayer and whether you should review your...

Chancellor looking to "rebuild funds" with new tax regime

Ben Taylor
  • Posted
  • Author

This week, the Office of Tax Simplification (OTS) has released a report on Capital Gains Tax (CGT). These follow a request by Rishi Sunak, Chancellor of the Exchequer, to “identify opportunities relating to administrative and technical issues as well...

Witnessing wills during the Coronavirus pandemic - Video Witnessing Update

Naomi Message
  • Posted
  • Author

In normal circumstances we strongly recommend a client making a will (“the Testator”) attends the office initially to take will instructions and again to execute their will and have their will witnessed by two members of staff.  Given the...

Trust Registration Service - Updating your records

Ben Taylor
  • Posted
  • Author

The administration of a trust is becoming increasingly comparable to that of a company, with the Trust Registration Service (TRS) and the responsibilities of trustees in respect of that, comparable to those for Companies House. Trustees are required to...

One house or two? - Multiple Dwellings Relief

Ben Taylor
  • Posted
  • Author

Multiple Dwellings Relief (MDR) is an important relief for Stamp Duty Land Tax (SDLT), where a purchaser acquires more than one dwelling as part of a transaction, or where there is a single dwelling purchase, but it is linked to at least one other...

Key changes to probate applications during the Coronavirus pandemic

Naomi Message
  • Posted
  • Author

Whilst the requirement for execution of wills remains archaic and unchanged, the pandemic has led to various modernisations of the process surrounding the application for Grants of Probate (along with Grants of Letters of Administration and Grants of Letters...

Should those suffering with coronavirus be allowed to make oral wills during the pandemic?

Naomi Message
  • Posted
  • Author

In these strange and unprecedented circumstances Ministers have been urged to use their emergency powers to relax the laws governing the execution of wills during the coronavirus pandemic.  Some campaigners argue those suffering from coronavirus should...

Bereavement - the impact of Covid-19 on families, loved ones and the administration process

Esther Woodhouse
  • Posted
  • Author

The effects of Covid-19 and the lockdown across the world is certainly not something that any of us could have ever envisaged or expected to happen during our lifetime. The effects are devastating and widespread, impacting the whole world beyond...

Update on the intestacy rules

Joseph Stoehr
  • Posted
  • Author

If someone dies without a will (or without one that is valid), the intestacy rules dictate how much of their estate their partner, children and other relatives inherit. Legislation passed yesterday – the Administration of Estates Act 1925 (Fixed Net...

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

Ben Taylor
  • Posted
  • Author

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
  • Posted
  • Author

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...

A space to live or just a space?

Paul Thompson
  • Posted
  • Author

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?

Paul Thompson
  • Posted
  • Author

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

Elizabeth Young
  • Posted
  • Author

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

Paul Thompson
  • Posted
  • Author

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

  • Posted

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

Paul Thompson
  • Posted
  • Author

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?

  • Posted

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
  • Posted
  • Author

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,...

  • Page 1 of 4