News
In the Spring Budget 2023, it was announced that, from 6 April 2024, the geographical scope of inheritance tax (“IHT”) agricultural property relief (“APR”) and IHT woodlands relief will be… Read more →
News
A round-up of legal updates for the Wills and probate industry over the past month is as follows. Contentious estates – a promise made by deed can override testamentary freedom… Read more →
News
A round-up of legal updates for the Wills and probate industry over the past month is as follows. Tax policy – new tax year The new tax rates and allowances… Read more →
News
The Chancellor’s Spring Budget 2023 did not contain any nasty surprises for private client practitioners with capital gains tax (“CGT“), inheritance tax (“IHT“) and income tax rates and allowances to remain… Read more →
Uncategorized
A round-up of legal updates for the Wills and probate industry over the past month is as follows. Estate administration – change to the legal definition of “treasure” The government… Read more →
News
A round-up of legal updates for the Wills and probate industry over the past two months are as follows. Tax Policy – Finance Act 2023 On 10 January 2023, the… Read more →
News
The transparency of offshore holding structures for UK property has been on the government’s radar for some time but it was the Russia-Ukraine crisis that accelerated plans to introduce a… Read more →
News
A round-up of legal updates for the Wills and probate industry over the past month is as follows. Tax policy – Autumn Statement and Finance Bill The Chancellor Jeremy Hunt… Read more →
News
A round-up of legal updates for the Wills and probate industry over the past month is as follows. Tax policy – Autumn Statement and tax reforms It has been an… Read more →
News
A round-up of legal updates for the Wills and probate industry over the past month is as follows. Tax policy – mini Budget and U-turn on 45% tax cut The… Read more →
Globally Speaking
The Economic Crime (Transparency and Enforcement) Act 2022 (“ECA”) introduced a register of overseas entities (“ROE”) and was passed on 15 March 2022 after a fast-tracked legislative process following events… Read more →
News
A round-up of legal updates for the Wills and probate industry over the past month is as follows. Will Trusts – Trust Register The deadline for registering non-taxable trusts newly… Read more →
News
The UK’s Trust Register legislation[1] (“the AML Regulations“) came into force on 26 June 2017 and established a central UK Trust Register, maintained by HM Revenue & Customs (“HMRC“). The… Read more →
News
We highlighted in the Winter 2020/21 issue of In Trust that the law was changing in respect of the registration of trusts with HM Revenue & Customs (“HMRC“), meaning that… Read more →
News
As from 2017, HM Revenue and Customs (“HMRC”) have maintained a centralised database of UK trusts known as the Trust Register. Up until now, the requirement to register has been… Read more →
News
Since 2017, trusts that incur a UK tax liability have been required to register on a central register of trusts (“the Trust Register“) managed by HM Revenue and Customs (“HMRC“).… Read more →
News
On 9 November 2018, following a commitment in the Autumn Budget 2017, HM Revenue and Customs published “The Taxation of Trusts: A Review“, a consultation paper looking at how trusts… Read more →
News
On 19 January 2018, the government requested that the Office of Tax Simplification (“OTS“) carry out a review of inheritance tax in order to identify simplification opportunities. The scoping document… Read more →
Bulletins
Consultation Response: Wedlake Bell LLP On 13 July 2017, the Law Commission launched a major consultation project on the law of Wills. The law in this area has not been… Read more →
Bulletins
Disappointingly, the Ministry of Justice has confirmed that it is going ahead with its controversial proposals to increase the costs of applying for grant of probate under which the maximum… Read more →
Bulletins
The global drive for greater transparency of corporate and other legal entities continues. In an attempt to prevent money laundering, terrorist financing, tax evasion and other financial crime, one of… Read more →
Bulletins
There is a fine line between legitimate tax planning and tax avoidance. The latter can be caught under the statutory “general anti-avoidance rule” if it constitutes a tax arrangement that… Read more →