Posted by Laura Kearns, Associate
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.
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.
Today we welcome highly respected lawyer Ursula Danagher to our Family team in London.
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.
Royds Withy King have achieved top rankings in the 2020 edition of the Chambers High Net Worth guide, released by Chambers and Partners, the international leading guide to the law (published July 2020).
Second home owners and property investors who sell a property face a stiff new Capital Gains Tax (CGT) regime from 6 April, leaving them just 30 days to settle any tax due instead of the current 22 months.
Royds Withy King have achieved top rankings in the 2019 edition of the Chambers High Net Worth guide, released by Chambers and Partners, the international leading guide to the law (published July 2019).
Top law firm, Royds Withy King, continues to invest in its Private Wealth offering by recruiting Stephanie Rees from the world’s leading auction house, Christie’s, as Marketing & BD executive. At Christie’s she held the position of Global Marketing Manager …
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 …