Articles by ‘Laura Kearns’

post  |  08:12:20

In the first of this mini-series, we explore how an attorney appointed under a foreign power of attorney may be able to use the power to deal with assets located in England & Wales.

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Opinion  |  06:10:20

It is commonly known that trusts are very useful asset protection vehicles, enabling value to be ring-fenced and managed appropriately for the benefit of one or more individuals.  Whilst wide ranging in their use, trusts can be particularly valuable where an individual wishes to make provision for a vulnerable beneficiary.

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Opinion  |  10:09:20

The impact of the Covid-19 pandemic on the housing market has been widely reported, with a near complete halt on transactions during lockdown.  This was undoubtedly frustrating for those keen to move but arguably even more so for individuals looking to reclaim an additional 3% of SDLT previously paid as a result of the higher rates now attaching to second homes.

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post  |  10:09:20

The Autumn budget is fast approaching and, as usual, there is much speculation in the financial press as to plans which may be announced by the chancellor.

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Opinion  |  06:06:19

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

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Opinion  |  13:03:19

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.

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Opinion  |  06:02:19

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.

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