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Opinions and insights from our private client team

 

OTS reviews Inheritance Tax

Ben Taylor
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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 2018...

Should relatives be allowed to enter civil partnerships to benefit from Inheritance Tax exemption?

Naomi Liston
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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...

Things you need to think about when making a will

Naomi Liston
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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...

FAQs : Welfare attorneys

Gemma Hopper
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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...

No such things as "next of kin": the ever growing importance of Health and Welfare Lasting Powers of Attorney

Naomi Liston
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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...

Statutory Wills - frequently asked questions

Gemma Hopper
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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...

Who has the legal rights to your social media and online 'assets' after death?

Nadine Wealands
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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...

Reviewing your will - your executors

Ben Taylor
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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...

Capital Gains Tax: payment on account for residential property gains

Rhiannon Coleman
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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...

Reviewing your will

Ben Taylor
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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,...

The role of APR and BPR in estate planning

Ben Taylor
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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...

HM Courts and Tribunals Service launch a digital probate service

Esther Woodhouse
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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:...

The New HMRC Trusts Register

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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

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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...

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