Articles in ‘Wills, Trusts and Estates’ Category

Many clients approach us with concerns that a family member may have been influenced into making a Will in certain terms, often for the benefit of the person alleged to have been influencing the…

Law firm RWK Goodman has secured a landmark ruling that has seen a will to be held invalid on the grounds that it was obtained fraudulently and through undue influence. Known as ‘fraudulent calumny’,…

English law has always placed great value on the principle of testamentary freedom. That is, an individual’s right to leave their estate to whomever they like, with no obligation to provide for family members…

This article first appeared in Talented Ladies Club. What happens to your ‘digital assets’, such as family photos, when you die? Find out why you need to make plans for them now. Here’s a conundrum:…

As we emerge from the COVID-19 pandemic it is more pertinent than ever to remember the importance of Children’s Grief Awareness Week. There have been many more children and young people dealing with grief…

The Telegraph published an article in December entitled “Inheritance tax shocker: Some families will pay 80pc”. Be assured, there is no 80% inheritance tax rate, and this “shocker” only applies in very limited circumstances.

HM Revenue & Customs (HMRC) are due to release their new online Trusts Registration Service imminently. The entire process of registering and updating trust details will go digital this year, replacing the paper 41G (trust) forms, in an effort to crack down on money laundering and tax avoidance as well as to reduce delays and errors through lost paper forms etc.

Over the next 20 years the number of people aged 65 and over is estimated to increase by nearly 50%, a total of approximately 4.75 million people. This means that increasing numbers of families are having to consider the costs of paying for care at a nursing or residential home, costs which are now exceeding £1,000 on average per week.

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.

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.

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.

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.