New Residence Nil Rate Band introduced April 2017

New Residence Nil Rate Band introduced April 2017

Here we go again! Another seemingly positive initiative from the government that needs to be treated with great caution. As is always the case in today’s environment you need to sort the wheat from the chaff. There is a trend here – a big tax giveaway (on the surface) accompanied by Treasury projections which show increased revenue for the government. Are we alone in wondering […]

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New Probate Fees

New Probate Fees

In May 2017 the government is introducing increases to probate court fees. The justification for this is to help ensure the court system is properly funded.  Estates that can afford to contribute more will take the main burden of the increase. The new proposed fee structure is as follows: Value of estate*                                                                                                              Proposed fee Up to £50,000 or exempt from requiring a grant of […]

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How to Avoid Over £3 Billion in Tax

How to Avoid Over £3 Billion in Tax

The news that (allegedly) the recently deceased Duke of Westminster’s Estate (the Grosvenor Estate) will largely be passed on with no Inheritance Tax payable has created a furore, to say the least! The figures involved are staggering; estimates of an Estate Value of somewhere around £9-£12 Billion suggest that a strict interpretation of IHT rules and rates means the tax saving could be somewhere between […]

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How to Protect your Family’s Wealth During Divorce

How to Protect your Family’s Wealth During Divorce

Are parents liable to be financially affected by the divorce of one or more of their children?   Some of the latest official statistics on divorce in the UK make for interesting reading, perhaps not just for those directly affected too. Here are two to focus on; First off the latest available numbers suggest that around 42% of all marriages end in divorce. Second the […]

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Why should people make a will?

To protect your kids If you have no will and you and your partner die, who would look after the children? People assume grandparents or their own brothers and sisters (the kid’s uncles and aunties). However, this is wrong – the kids become wards of court and the authorities will decide what happens. Sometimes they can go in to care whilst a decision is being […]

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Misconception around gifts and taper relief

This article is inspired out of a need to correct one of the most common misconceptions many people have about gifts. We hear all too often people, having made a gift or considering one, state that they believe the gift will pass out of their estates after 7 years and that taper relief will apply in the meantime. It is possible neither may be true, […]

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The Benefit of Using Trusts

There is a common misconception that trusts, and the use of trusts, are solely for the very wealthy. However, the reality is that trusts are available and accessible to all people and should be considered by all families! They are relatively easy to implement and, in the main, very cost effective. This has come from the development of trusts that can be drawn “off the […]

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Making a will

How to leave the maximum amount to your family and not the tax man, or even someone else’s family. Integral to estate planning is also making a will.     Why do I need a Will? The vast majority of people put off making a Will for a variety of reasons, either believing that the people they would wish to inherit will automatically do so, […]

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