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Opinions and insights from our private client team
I recently assisted a deputy in making a Statutory Will for his brother, ‘Stephen’. The deputy making the application was the sole beneficiary under intestacy and did not agree that this was in his brother’s best interest. Stephen...
Electronic devices are used every day for more than just communication: we use them as a place to create and store documents, listen to music, read books and watch movies. We have social media accounts to share our pictures and videos. We buy and sell...
In the last couple of months, I have written about the importance of reviewing your will to ensure it is up to date with your personal and financial circumstances, but also in light of any changes to the tax environment. Over the weekend, the importance of...
HMRC have recently published a consultation document about their proposed changes to the calculation and payment of capital gains tax (CGT) in relation to the disposal of residential property – but, practically, what might this mean for taxpayers? CGT...
In December I wrote about the research into the use of Agricultural Property Relief and Business Property Relief , the aim of which was to help HMRC to understand how people utilise these reliefs in estate planning. Following this, on 19 January,...
As the dust settles following the Autumn Budget, in amongst the various documents released around the same time, HMRC published research on the use of Agricultural Property Relief (APR) and Business Property Relief (BPR), and taxpayers’ attitudes...
An online service for selected personal applicants of ‘non-complex’ estates has, in fact, been available under a pilot scheme since November 2016. The launch now invites all personal applicants to apply providing certain criteria are met:...
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...
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 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...
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...
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...
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...
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...
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...
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...
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...
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. ...
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...
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...
