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Calculating tax
Opinion  |  28:07:20
Capital Gains Tax changes April 2020
New rules in respect of capital gains tax (CGT) will come into force, for UK residents, affecting all disposals of property from 6 April 2020.
Opinion  |  27:07:20
Wills witnessed over video link to be legal
The Government is bringing in legislation that will allow individuals to have their Wills witnessed via video links. The legislation will apply to Wills made since 31 January 2020, the date of the first registered Covid-19 case in England and Wales.
Opinion  |  03:06:20
Clitheroe v Bond – A test case in disinheriting family members and the necessary mental capacity
In England and Wales, there is testamentary freedom. This means that a client of sound mind is perfectly entitled to make a Will for capricious, frivolous, mean or even bad reasons without the Will being invalid.
Digital legacy
Opinion  |  06:04:20
What happens to your family photos and other digital assets when you die?
What happens to your ‘digital assets’, such as family photos, when you die? Find out why you need to make plans for them now.
Opinion  |  06:08:19
Claudia’s Law – is it fit for purpose?
The Guardianship (Missing Persons) Act 2017 (the ”Act”), also known as Claudia’s Law, came into effect on 31 July 2019. It is designed to provide relief for the families of those who have been missing for 90 days or more. We look at the issues involved, and whether or not it provides sufficient safeguards for the missing.
Wine bottles private wealth
Opinion  |  06:06:19
Wasting assets and tax – there’s nothing to wine about!
Hawksmoor’s recent error – accidentally serving a £4,500 bottle of wine instead of a £260 bottle of the same vintage – wasn’t ideal for the restaurant. But if a similar mistake had been made by a wine investor, he or she might have lost out on a tax-efficient return
Opinion  |  15:03:19
Inheritance Act claims: More uncertainty over time limits
In the recent case of Cowan v Foreman a widow attempted to make a claim on an estate 17 months after the relevant deadline had passed. The judge refused to give permission for her late claim, suggesting a stricter approach should be adopted by the court in the future. However, a recent decision in the case of Bhusate v Patel, to allow a widow to make a claim over 25 years out of time, suggests that this strict approach may not be adopted for every case.
Case Study  |  14:03:19
A rare successful undue influence case
It has long been established that a Will can be challenged on the grounds of undue influence. However the evidential threshold to prove undue influence has been set high by the courts so successful cases are few and far between. This week one of these rare cases has been reported in the context of three daughters contesting their mother’s Will on the grounds that their father and brother pressured their mother to leave her whole estate to their brother.
Opinion  |  13:03:19
What’s the latest on Capital Gains Tax for Furnished Holiday Lets?
In our previous article we focused on the uncertain inheritance tax treatment of furnished holiday lets (FHLs) and whether they can be classified as business assets which attract business property relief. The position in relation to income tax and capital gains tax (CGT) is however much clearer - qualifying FHLs are considered to be trading businesses for both income tax and CGT purposes.
Opinion  |  06:02:19
What’s the latest on Inheritance Tax for Furnished Holiday Lets?
Owners of furnished holiday lets (FHLs) are often surprised at the seemingly incongruous tax rules which apply to their businesses. Whilst for income tax and capital gains tax purposes, FHLs are generally treated as “trading” businesses and taxed accordingly, the position is very different for inheritance tax purposes.
GDPR subject access requests rwk goodman
Opinion  |  14:08:18
After the GDPR: Subject Access Request Exemptions
The General Data Protection Regulation (GDPR) and Data Protection Act 2018 have now been in force for over 2 months. Since the 25th May 2018, our employment and privacy teams have seen a large increase in the number of clients who are receiving subject access requests from both staff and customers.
Uncategorised  |  21:06:18
Beware executors – you’re liable for IHT, not the beneficiaries!
Executors are responsible for the administration of an estate after the death of an individual. While they may benefit from the Will left by the deceased, or under the intestacy if there was no Will, they carry some heavy burdens whilst fulfilling their duties to administer the estate.
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