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Opinions and insights from our private client team
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...
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...
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...
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 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 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...
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...
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,...
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...
Since 2017, HM Courts and Tribunal Services (HMCTS) have offered an online service enabling individuals to apply for a grant of probate in a deceased’s estate, providing certain criteria were met. HMCTS have now updated the system, now allowing...
The Office of Tax Simplification (OTS) has released its first report on the review into Inheritance Tax (IHT). This first report comments on the administrative complexities of IHT which, surprisingly from a lawyer’s perspective, were the most...
A banded system for probate court fees, tantamount to “a tax on the bereaved”, is back on the agenda for the government following their last ‘U’ turn on this topic in the run up to the last general election. The increases have been...
Considering the worst case scenario is not always easy to do. However, when you have children it is important to think about who would care for them if the worst should happen to you. It cannot always be assumed that if the worst case scenario occurred...
In February I wrote about the importance of reviewing your will and, in particular, about the need to stay on top of changes to the tax regime which might affect your estate planning (for those who missed it you can read it here ). As we near the...
In the days of ever increasing property values, but where the amount a person can pass to anyone free from Inheritance Tax on their death has been frozen for almost 10 years, should we be looking to protect the assets of those co-dependent on one...
Having met with clients to discuss their wishes and concerns and to take will instructions over a number of years, the same or similar initial questions often come up. What is a will? A will is a legal document which takes effect on death. A...
I regularly advise health and welfare attorneys on their duties, and it’s quite apparent that the same concerns come up time and time again. Planning for later, or even end of life is difficult, so below are some answers to the questions...
The concept of “next of kin” is often misunderstood and misinterpreted. Contrary to common belief, “next of kin” only exist on death and are those who would inherit if the person in question died without leaving a valid...
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...
