Day: 30 August 2024

Rachel Reeves signals potential tax hikes amid economic challenges

Rachel Reeves, the Chancellor, has refused to rule out possible increases to both inheritance tax and capital gains tax ahead of the upcoming Budget on October 30th, as reported by The Telegraph. In an interview, she hinted at “difficult decisions” the government may need to make but declined to commit to freezing the levies. This […]

Report explores the role of wealth advisers in charitable legacies

A new report from Remember A Charity have launched explores the opportunity for wealth advisers to play a more active role in helping clients achieve their philanthropic goals through a charitable legacy. Looking at the benefits of engaging clients in meaningful discussions around charitable bequests, the report also highlights the potential for working more closely […]

Successful cyber attacks up 77% year on year

The legal sector has seen a 77% increase in the number of successful cyber attacks increase by 77% over the past 12 months, from 538 in 2022/23 to 954 2023/24. The increase has been driven by the sensitive and personal nature of information held by firms, including financial information which can be sold on the […]

‘Pure’ protection market under review by FCA

Practices around protections designed to offer peace of mind and financial security to those most vulnerable are being probed by the Financial Conduct Authority (FCA) after it said it concerns had been raised that competition is ‘not working well’ in the market.  Pure protection, a long term insurance which pays out in the event of […]

Award entries ‘truly innovative’ showcasing the best of sector

The British Wills and Probate Awards 2024, sponsored by CTT Group, is just 6 weeks away with practitioners from across England and Wales coming together to recognise and celebrate excellence in the wills, probate, tax, trusts and estate planning sectors. Starting out Ardencote in Warwickshire in 2018, the awards have grown to become the premier […]

New powers for courts to penalise non-engagement in alternative dispute resolution in family trust and inheritance cases

As of 1st October 2024, courts in England and Wales will have the authority to impose legal costs on parties who fail to participate in non-court dispute resolution processes in cases under the Trusts of Land and Appointment of Trustees Act 1996 (TOLATA) and the Inheritance (Provision for Family and Dependants) Act 1975, as reported […]

Trust taxes: what trustees need to know

Taking on the role of a trustee carries a duty to act in the best interests of all parties to the trust and to ensure that the trust is properly managed. One of the trustee’s key responsibilities is dealing with the trust’s taxes. Clarissa Landcastle, trusts and estates administration specialist at Hugh James, explains the […]

A bombshell for beneficiaries

With probate solicitors finding themselves dealing with increased cases involving complex shared appreciation mortgages, specialist financial services litigation lawyer Laura Robinson, of national law firm Clarke Willmott LLP, explores the advice clients should be given. At an already incredibly difficult time, sometimes with loved ones moving into care or passing away, donors and beneficiaries are […]