IHT excluded from Autumn statement
The autumn statement has not brought about any changes to inheritance tax despite widespread anticipation it might. Seen very much as a potential vote winner at next year’s election, it has been suggested that any changes, which may favour the wealthier in society, could be introduced in the Spring. IHT receipts also went up again […]
IHT receipts surge to £4.6bn in first seven months of 2023/24 fiscal year – HMRC
HMRC’s latest update on Inheritance Tax (IHT) receipts show that £4.6 billion was collected through the first seven months of the 2023/24 Financial Year – a 12% increase on the same period in the previous year (£4.1 billion through the first seven months) with the tax likely to raise yet another record annual total for […]
HMCTS commits to improved probate reporting and new charity indicator
Remember A Charity and the Institute of Legacy Management (ILM) welcome new commitments from His Majesty’s Courts & Tribunal Service (HMCTS) to enhance the service it provides for the charity sector. This will include more in-depth reporting on estates at probate and the development of a new charitable estate indicator. The two charity bodies have been working closely with the Probate Registry to ensure […]
Second Annual Summit: IPW, Best Foundation and SWW meet up
The second annual summit of the three main bodies in the will writing sector gathered again last week to discuss the threats and opportunities the sector faces. After many years of non collaboration, the IPW and the Society along with the BEST Foundation, are now forging ahead with shared objectives and standards for the sector […]
House of Commons opens inquiry on probate registry
House of Common’s ‘Justice Committee’ has opened an inquiry on the probate registry. The deadline to respond with written evidence is 22nd January 2024. The Probate Registry has been experiencing significant delays. There are wider concerns about how effectively beneficiaries, executors and the bereaved are supported through the process and protected from rogue traders. The […]
Inheritance advisors report widespread client victims of financial abuse
Majority of inheritance advisors say they have seen clients who have been victims of financial abuse, according to a new STEP report The majority of solicitors and professionals who help plan their clients’ estates have either seen instances of actual or suspected financial abuse, according to a new report from STEP, the global professional body […]
Equity Release is evolving into “Later Life Lending”
A return to the norm? Before I talk about the changes happening in the world of Equity Release, it’s worth setting the scene in terms of the property market, interest rates and the wider economy. The Bank of England base rate was slashed in early 2009 to support a recovery from the global financial crisis. […]
Guardianship Applications for missing people: What they do and how to apply
When someone goes missing their financial affairs can come to a standstill with mortgage payments going unpaid, family members not being financially supported and direct debits continuing without reason. Under the Guardianship (Missing Persons) Act 2017, a claim for a guardianship order allows the applicant to obtain the legal right to manage the property and […]