AI is not a legal entity and responsibility remains human, Law Society warns
New guidance on artificial intelligence (AI) published by the Law Society of England and Wales makes it clear that these tools are not a legal entity and responsibility remains human. A new Law Society practice note gives specific guidance on how lawyers can integrate AI in their practice in line with their professional obligations. However, […]
IHT revenues surge to £4.7bn as frozen thresholds catch ‘ordinary families’
Inheritance tax (IHT) receipts reached £4.7 billion between April and September, up £300 million on the same period last year, as rising asset values and frozen thresholds increased the number of estates liable for the levy. The latest figures released by HMRC have triggered warnings from estate planners and wealth managers that IHT is “becoming […]
Lifetime gifting rises as data shows inheritances arrive too late to maximise impact
New research suggests fewer than half of people surveyed believe they will receive inheritance at the age when it would benefit them most. Whilst people expect to receive their most significant gift or inheritance at an average age of 52; but receiving an inheritance earlier in life has a greater impact suggest Canada Life in […]