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17 February 2021 0 Comments Posted in Opinion, Private Client

The deemed domicile end of tax year countdown

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Women doing taxes

Deemed domicile status provides an extraordinary opportunity to save tax but it’s an easy opportunity to miss.

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8 December 2020 0 Comments Posted in News, Events & Opinion, Private Client

Inheritance tax relief on falling property prices

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Inheriting-house

When a property (or land) is sold within four years of the date of death for less than its date of death value, a relief from inheritance tax may be available. The relief basically allows the sale price to be substituted for the date of death value.

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23 October 2020 0 Comments Posted in Private Client

Are fears of post-COVID tax hikes driving sudden rise in gifting to family?

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Rod smith private wealth lawyer

Gifting by wealthy family members to their children has soared over the past three months but post-COVID tax planning may not be the primary driver, report our private wealth lawyers.

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6 October 2020 0 Comments Posted in Opinion, Private Client

Brexit: Do I need to update my will if I own property abroad?

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property

The EU Succession Regulation, known as  Brussels IV, came into force on 17 August 2015. Its intention was to simplify issues relating to succession across the EU. Whilst the UK, Ireland and Denmark opted out, it’s still relevant to any UK resident individuals who own assets in any other EU member state.

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10 September 2020 0 Comments Posted in Private Client

More buyers are resorting to the Bank of Mum and Dad to fund a home

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buying-home

Analysis released this week by Legal & General and consultancy CEBR shows that 23% of home purchases this year will be supported by the Bank of Mum and Dad, an increase of 4% on last year. The sums deployed are, unsurprisingly, significantly lower.

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15 July 2020 0 Comments Posted in News, Private Client

Changes to CGT will hit BTL landlords and second home owners

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The Government announced yesterday a review of Capital Gains Tax which may result in CGT rates becoming aligned to income tax rates. The review is to be conducted by the Office for Tax Simplification with more detail expected in the Autumn Budget.

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The valuable domicile election – don’t miss out

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valuable domicile election

Domicile is the keystone to inheritance tax (‘IHT’). Where a married couple or registered civil partners are both UK domiciled or both non-UK domiciled, the full spousal exemption applies.

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Why now is a good time to consider lifetime tax planning with gifts

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Quotable shares

With the FTSE 100 down by around 20% on the start of the year, the current situation presents valuable opportunities for lifetime tax planning.

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1 October 2018 0 Comments Posted in News, Private Client, Technology & Media

Royds Withy King unveils exclusive Life Safe® legacy management portal

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Law firm Royds Withy King has today announced the launch of Life Safe® – an exclusive legacy management portal which will allow people to keep a secure record of all their important documents, digital assets and treasured possessions in one …

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