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Posted by James McNeile, Partner
As the Government and the Office of Tax Simplification look at the very real possibility of bringing Capital Gains Tax (‘CGT’) rates into line with income tax rates it seems like a good moment to review the position on some investments which may be able to be realised free of CGT. One would hope that the exemptions themselves would continue to apply even if the CGT rate increases.
Posted by James McNeile, Partner
Online banking and asset management creates probate headaches for lawyers and grieving families as they struggle to find bank and investment account details linked to an individual’s estate due to a lack of a paper trail.
Posted by James McNeile, Partner
Partner and head of our Private Client team James McNeile examines two important notices issued this month: the first one signalling potential changes to taxation of chargeable gains, and the second concerning the final regulations regarding the UK Trust Register.
Posted by James McNeile, Partner
As Coronavirus cases increase so does, understandably, the demand for will services. But, as self-isolation and social distancing requirements are raised, how is the way in which wills can be witnessed and processed likely to change? Should we be looking to the government to bring in new legislation to mirror the process of wills for those in the armed forces or merchant seamen at sea?
Posted by James McNeile, Partner
Controversial plans to increase probate fees have been scrapped by Justice Secretary Robert Buckland. The changes that were originally introduced by Theresa May would have increased administrative fees from £215 to £6,000 for the largest estates, raising an extra £185million a year for the government.
Posted by James McNeile, Partner
Posted by James McNeile, Partner
Second home owners, landlords and property investors are being urged to beware a ‘dramatic change’ to the current capital gains tax regime which will come into effect in April. The new rules mean that anyone selling a property after 6 …
Posted by James McNeile, Partner
A significant change to the taxation of non-UK residents came into effect on 6 April 2019 which means gains on all UK property* (commercial as well as residential) are subject to UK tax. Gains on disposals by individuals and companies will be within the scope of UK tax. The changes are wide reaching as the rules can apply to direct disposals but also to disposals of shares in property rich companies.
Posted by James McNeile, Partner
We are delighted to announce our firm has been named as a leading private wealth law firm in the UK by leading industry publication, eprivateclient. The online publication, which provides the latest legal news, analysis and trends, surveys over 140 …
Posted by James McNeile, Partner
With the uncertainty around Brexit and talk of a potential general election, some are considering their options as to whether to remain in the UK or leave. We look at the some legal and tax issues that people may want to consider to make sure their affairs are in order in the UK before leaving.
Posted by James McNeile, Partner
High net worth investors looking to live in the UK face a tough new test as the changes to regulations surrounding the Tier 1 Investment visas have now been announced.
Posted by James McNeile, Partner
HMRC has raised a glass to owners of the UK’s growing number of vineyards, confirming that vineyards do qualify for agricultural property relief (APR) and are therefore potentially free from inheritance tax. HMRC updated its guidance in February to specifically …
