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
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
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
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
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
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
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
David Eggleton, 71, has been sentenced to five years and six months in prison for stealing £600,000 from his 93-year-old aunt to fund a luxurious lifestyle, Swindon Crown Court heard. Eggleton, who had been granted
The UK government has unveiled partial details of its plan to replace the resident non-domicile (non-dom) tax regime with a four-year Foreign Income and Gains (FIG) system, effective from April 2025, as reported by STEP.
An east London law firm, Symons Gay & Leland LLP, has been fined £12,636 for violating anti-money laundering regulations, as reported by The Law Society Gazette. The breaches occurred between June 2017 and July 2023,
Essex-based law firm Birkett Long has announced the expansion of its Court of Protection and Inheritance Disputes (COPID) team.The new team comprises three experienced solicitors, supported by a paralegal and a team assistant, who are
This year’s Remember A Charity Week (9th-15th September 2024) will see the launch of an interactive map of legacy giving, showcasing the impact of charitable gifts in Wills across the world. The Great Map of
Chancellor Rachel Reeves has announced that the upcoming October 30th budget will include tax increases, while ruling out hikes to income tax, national insurance, and VAT, as reported by The Times. Reeves, speaking on The
Over-55s homeowners are sitting on an average £311,000 in equity with one in four owning £400,000 or more but they are becoming increasingly worried about their retirement income, new research from Key Later Life Finance
The sons of Stuart Marcus, a successful toy-making entrepreneur, are embroiled in a legal battle over inheritance following claims that DNA tests have revealed one of them is not Marcus’s biological child, as reported by
