How To Value Assets And Liabilities For Inheritance Tax Purposes

New insight has revealed that despite an increase in inheritance tax thresholds over the last 20 years, higher rates of house price growth mean that homebuyers across 36 per cent all UK local authorities are

TRS

The Property (Digital Assets etc) Bill, introduced in Parliament, will mean that for the first time in British history, digital holdings including cryptocurrency, non-fungible tokens such as digital art, and carbon credits can be considered

This Remember A Charity Week (9th-15th September), solicitor firms, Will-writers and legal partners are joining charities across the UK to encourage people to consider leaving a gift to their favourite charities in their will, while

The latest wages data suggests that the new full state pension is expected to rise by £460 a year from April. The rise is expected to be driven by the “triple lock” mechanism, which dictates

A High Court judge has ruled that Donald McPherson, also known as Alexander James Lang, unlawfully killed his wife, heiress Paula Leeson, to gain access to her £4.4 million estate, as reported by The Telegraph.

Probate fees to increase from January

People dealing with the death of their partner and facing financial hardship will soon be able to apply to have the application fee for settlement waived, under new rules laid in Parliament today. Currently, people

Brachers law firm, based in Maidstone and Canterbury, has appointed a new tax and trusts specialist to strengthen its private client team. Joining with more than 18 years’ experience, Miranda Wood is senior tax manager

The UK state pension is set to increase by more than £400 in cash terms next year, as Treasury estimates suggest it will surpass inflation. The rise is expected to be driven by the “triple

The First-tier Tax Tribunal (FTT) has ruled that HMRC cannot pursue £588,700 of underpaid inheritance tax (IHT) linked to a failed tax-planning arrangement, as reported by STEP. This decision came after an HMRC officer mistakenly

Finders International has announced the launch of its new platform, the Finders International Development Hub. This innovative platform offers free online training and resources, specifically curated to support and elevate the expertise of public and

A third of retirees will rely on downsizing and inheritance

Over-55 homeowners are making major cutbacks as they try to be mortgage free by the time they retire , new research has revealed. Its study found nearly three out of five (57%) say they are

Only one in five (21%) believes justice is accessible, warns the Law Society of England and Wales. This warning comes as research by the Law Society and the Legal Services Board reveals that the justice

HMRC has replaced the forms used to report chargeable lifetime and trust transfers, along with updating the related guidance. The new system includes a set of combined Inheritance Tax (IHT) account and event forms tailored

IHT reforms rejected by treasury

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,

Remember A Charity logo

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

A case note on O’Neill v Holland [2020] EWCA Civ 1583

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

New freedom of information data from HM Revenue and Customs, obtained by Quilter has revealed that 3.1 million or one in five pensioners will be dragged into paying higher or additional rate tax by the

Young adults aged between 18-34 expect to have an average of three different careers over their lifetime with a five-year pension holiday, according to a new study commissioned on behalf of Handelsbanken Wealth & Asset

Care Home Covid Deaths Decline For First Time

Bereaved families are among thousands of people being ‘cheated out of interest on their own money by solicitors that have pocketed millions as a result’ says a personal finance comparison site finder.com. New research has

The Gazette is preparing to launch an updated mobile responsive website and is looking for wills and probate professionals to join a brand-new Research Group and help test it. Group members who help with the

The Equity Release Council has unveiled new guidance for member firms to consider when launching retrofit lifetime mortgages. In consultation with the Green Finance Institute (GFI) and Council members, The Retrofit Lifetime Mortgage Guidance is

Equity release expected to reach £5.6bn this year

Inheritance Tax receipts for April 2024 to July 2024 are £2.8 billion, which is £0.2 billion higher than the same period last year, HM Revenue and Customs revealed. Laura Hayward, Tax Partner at professional services

The UK government is exploring a Canada-inspired pension system to boost efficiency and infrastructure investment. ICAEW Insights looked at how this compares with the UK’s existing model. Chancellor Rachel Reeves is exploring a Canadian-inspired model

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The England and Wales High Court (EWHC) has dismissed a man’s attempt to exclude his brother from a family trust set up by their late father, as reported by STEP. The dispute arose after Jonathan

How To Value Assets And Liabilities For Inheritance Tax Purposes

A family has escaped paying an inheritance tax (IHT) bill of nearly £600,000, due to administrative errors made by HMRC, as reported by The Express. The case involved a complex tax-saving scheme used by Jennifer

New findings suggest that those counting on an inheritance to solve their financial problems may need to reconsider their expectations. According to a study by the estate agency Hamptons, declining rates of homeownership are expected

Pensioners In The EU Will See A Boost To Their Pensions

The Department for Work and Pensions is urging pensioners to check their eligibility for Pension Credit in order to secure this year’s Winter Fuel Payment. It comes as the government has had to make some

The Charity Commission, the regulator of charities in England and Wales, has published fresh research that shows public trust in charities at highest level since 2014. The research reveals that information about how money is

abolish Inheritance Tax

An analysis by law firm Kingsley Napley of HMRC inheritance tax data (just released for tax year 21-22) shows the geographical dispersal of estates hit by inheritance tax bills. Kingsley Napley names the top ten

Members of a family who lost a £2.8 million inheritance after a relative left his estate to a friend under an ancient Roman law doctrine have been granted permission to appeal, potentially setting a significant

Funding is needed for mental health reform, says Law Society

In a contentious court battle, two siblings successfully challenged their father’s will, which left them significantly less inheritance than their brothers. Multi-millionaire Reg Bond, who built a £55 million empire from rubber tyres, passed away

The England and Wales High Court (EWHC) has permitted the family of the late Al-Hasib Al Mahmood to appeal its decision in the significant deathbed gift case, Rahman v Hassan (2024 EWHC 1290 Ch), as

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