I have encountered a fair number of new enquiries recently where the obvious first step to take is to apply to enter a caveat at the Probate Registry. I, therefore, felt that it would be a topical yet timely reminder of what they are, why they can be useful,...
When a person dies leaving no will, they are said to have died intestate. As they have not provided directions as to how they wish their assets to be dealt with, their estate is shared out in accordance with a set of legal principles known as “the...
The eagerly awaited Court of Appeal judgment in Hirachand was handed down last week. When this issue crops up in a case, I find that it is incredibly difficult for one to grapple one way or the other, let alone second-guess which way the judiciary is going...
Since the emergence of Covid-19 in March 2020, every industry in the UK has faced challenges. Some have seen their development and growth thwarted, whilst others have shone. We’ve hopefully seen the back of the worst of it. I’m now at the...
After death, there is often a need for your Personal Representatives to apply to the Probate Registry for a Grant of Representation. The Grant confirms the Personal Representatives’ authority to administer the estate which is needed to collect...
We can often find discussing money matters, like inheritance, a little uncomfortable. However, in some cases it is quite common and, as in my experience, we are starting to observe a changing attitude towards talking about property, finances, and death. ...
The past eighteen months have forced us all to think about a lot and for many this has meant finally writing a will or rummaging around for their “current” one to give it a much-needed review and update. Sorting out wills tends to stay on...
There have been a number of changes in the tax environment over the last few years aimed at discouraging private ownership of second or investment properties. The changes include the introduction of the higher rates of SDLT (an extra 3%) and the changes to...
A decision in the case of ‘C’ has been handed down, judging him to have the capacity to engage in sexual relations and to potentially engage a sex worker and identifying issues for those who may be asked to help make such arrangements for others....
The Trust Registration Service (“TRS”) was originally set up in 2017 and only required trustees of express trusts with a relevant tax liability to register. The relevant taxes are: Income tax Capital Gains Tax Inheritance tax Stamp Duty...
We often get asked about the tax situation on divorce. Whilst there is no one size fits all, the following is a general outline of the common tax issues that arise on a divorce or separation . Advice should always be sought at an early stage and a plan...
Will and inheritance claims have been significantly increasing for many years now. According to the Ministry of Justice reporting in the Times last year, in 2016, the number of individuals seeking to claim a share or a larger proportion of a deceased...
A new tax on wealth is being considered and a report by The Wealth Tax Commission has been released this month making recommendations to the Government. To find out how such changes could affect you as a taxpayer and whether you should review your...
This week, the Office of Tax Simplification (OTS) released a report on Capital Gains Tax (CGT). These follow a request by Rishi Sunak, Chancellor of the Exchequer, to “identify opportunities relating to administrative and technical issues as well as...
The administration of a trust is becoming increasingly comparable to that of a company, with the Trust Registration Service (TRS) and the responsibilities of trustees respect that, comparable to those for Companies House. Trustees are required to record and...
Multiple Dwellings Relief (MDR) is an important relief for Stamp Duty Land Tax (SDLT), where a purchaser acquires more than one dwelling as part of a transaction, or where there is a single dwelling purchase, but it is linked to at least one other...
The effects of Covid-19 and the lockdown across the world are certainly not something that any of us could have ever envisaged or expected to happen during our lifetime. The effects are devastating and widespread, impacting the whole world beyond...
If someone dies without a will (or without one that is valid), the intestacy rules dictate how much of their estate their partner, children and other relatives inherit. Legislation passed yesterday – the Administration of Estates Act 1925 (Fixed Net...
If you don’t have a will yet, you’re not alone. It was recently estimated that somewhere between 50% and 60% of adults in the UK do not have one. Many assume their loved ones will automatically inherit their estate - but that’s...
Most of us understand the importance of making a will in order to ensure that our affairs are taken care of as we intended on our death. However, fewer of us consider the importance of Lasting Powers of Attorney (LPAs) and what would happen if we are no...
