The latest figures from HMRC suggest inheritance tax receipt this financial year will eclipse last year’s record of £7.1bn due to a combination of frozen thresholds and rising house prices. Once the income tax reporting deadline of the 31st January has passed, the spring is a great time to review your inheritance tax position before … Continued
There are a number of different circumstances where it may be necessary and beneficial for someone to be appointed a ‘Special Guardian’ for a child. These can range from circumstances where a child is involved in care proceedings and a decision is made that they aren’t able to stay in the care of their birth … Continued
Negar Saffari is one of the paralegals in the Private Client department, assisting with Wills, Lasting Powers of Attorney and estate administrations (probate) and an integral part of the growing team within the firm. Negar has chosen to train to become a solicitor through the Solicitors Qualifying Exam route which is coupled with relevant work … Continued
Probate applications that require a full Inheritance tax account (IHT400) to be submitted to HMRC will, from today (18th January 2024), require a code from HMRC to be entered into the online HMCTS application (or paper application) before they can be prepared, signed and submitted. The new steps will now be to: send the IHT400 … Continued
One quarter of all couples are cohabiting (not in a marriage or a civil partnership) according to a recent study by the Office of National Statistics and, coupled with the statistic that only 35% of UK adults have made a Will, is unfortunately creating conflict and financial difficulties upon death of a partner. Who can … Continued
It is not uncommon for our newly separated clients to present us with a financial split that they have already agreed between them following the decision to separate. This is often based upon what they understand the matrimonial assets and liabilities to be. Whilst this can be an excellent starting point and evidence that both … Continued
Those of you who have written a Will may have seen that the Society of Trust and Estate Practitioners (STEP) Standard Provisions have been included in the Will in either their original or more latterly, 2nd edition. The Standard Provisions are administrative powers available to the executors and trustees of a Will to assist them … Continued
Don’t wait until the school holidays are here to work out parenting arrangements. Now is the time to get those arrangements agreed and resolved so that you can look forward to a peaceful and enjoyable festive period. As the schools go back after October half term and Christmas lights and decorations spring up in shops … Continued
As with many aspects of modern life, technology is playing an increasingly prevalent role in residential conveyancing (property sales, property purchases, transfers of equity and remortgages) to reduce the time involved in the conveyancing process. Having worked in residential conveyancing since 2013, over the years I have seen how technology has improved efficiency in transactions … Continued
With the Bank of England continuing to raise interest rates, a number of beneficiaries under estate administrations, who have been left a set sum of money under a Will (called a pecuniary legacy) have enquired if they will receive interest on the specified sums due to them, given the length of time it can take … Continued
