Grant on Credit
By Lee Rossiter, Operations Director at Kings Court Trust This year’s Spring Budget (6March 2024), included changes to the current probate process. From 1 April 2024, Personal Representatives (PRs) (i.e. Executors and Administrators) now have the option to apply to HMRC for a “Grant on credit” if they are unable to pay the tax due on submission of the IHT400. So, what does […]
Are US assets held on UK estates on the rise?
By Anthony Allsopp, Head of Business at Title Research Title Research has been dealing with US assets held in UK estate for nearly 20 years and assisting Personal Representatives to navigate their various challenges, and they’ve noticed an increasing trend in this area. It is quite common knowledge that Cadbury was bought by Kraft many […]
Labour’s Manifesto: Closing tax loopholes and reforming public services
Sir Keir Starmer has unveiled the Labour manifesto, featuring the closure of the capital gains tax loophole for private equity investors, an increase in stamp duty for overseas buyers, and additional funding for HMRC. Starmer emphasised that there would be no increases in income tax, national insurance, or VAT for households, framing it as “a manifesto […]
Tory party manifesto promises pension protection
As the Conservative Party manifesto was unveiled today with flourish at the Silverstone race track, promises to tax cuts and pay workers fairly were among some of the promises made by the Prime Minister. This included cutting tax for pensioners. The promise of tax cuts for those on a pension comes after a poll revealed […]
Probate applications reveal further improvements, data reveals
The waiting time for probate applications has yet again significantly decreased in the number of weeks from submission to grant issue for all probate applications – decreasing from 11.3 to 1o.2 weeks, according to HM Courts & Tribunals Service (HMCTS). Last month marked the shortest waiting time since March of last year, which stood at […]
Green Party advocates aligning capital gains tax with Income tax bands
The Green party have said that a reform of capital gains tax would bring it in line with income tax bands in their manifesto launch. For higher earners, capital gains tax is currently 28% on gains from residential property or 20% on gains from other assets – while income between £50,271 and £150,000 is taxed […]
The Women in Wills group gathered in Manchester for the second Regional Lunch of the year
Paige Gouldthorpe, Chair of Women in Wills was pleased to welcome new and returning members to our second regional lunch of the year. We are excited that our community is growing so quickly across the UK. Delegates had the opportunity to network with others in the room before sitting down for a tapas feast! The […]
