Gifts in lieu of tax are not just for the owners of the country’s great houses and can include a wide range of other collectibles. Guy Abrahams and Rebecca Meade explain how the arrangement works and the benefits it can offer.
Read moreSince the onset of the COVID pandemic, many businesses have been considering their space requirements. In some cases, tenants will have leases that include break clauses which will let them terminate their leases before the contractual expiry date.
Read moreUK directors could be held liable for ensuring the accuracy of company financial statements, with directors of large businesses facing fines and even bans from board positions if they fail to do so, under plans being considered by the Department for Business, Energy and Industrial Strategy (“BEIS”).
Read moreMaking a Will is a vital part of any estate planning exercise. Sharing wealth with family and other loved ones in the most tax efficient way possible, is a priority for most people. Their aim is to provide for partners and ensure that children are supported financially to achieve their goals, whether those include buying a property, or starting a family or business.
Read moreDealing with the death of a family member or close friend is always difficult for those involved; the last thing anyone wants to deal with when grieving is navigating complicated tax and legal procedures. It is no wonder that the probate process can appear a daunting prospect to the personal representatives or 'PRs' (the people entitled to deal with a deceased person's estate, who are also known as 'executors' when they are appointed in a Will). We provide a helpful guide to the probate process, which can be broken down into five key steps.
Read moreOn 11 November 2020, the National Security and Investment Bill (the “Bill”) was put before Parliament. But, what transactions will be affected and how will the scrutiny work in practise? It's worthwhile being aware of the Bill’s main points.
Read moreGovernments recognise that encouraging people to start businesses and employ others is important for the economy, and that any charge to tax on disposal should be mitigated to recognise the years of work involved in building a business, and the financial risk that people take in doing so.
Read moreIn the past, if people wanted to pass wealth to their children (often prompted by the prospect of ultimately paying inheritance tax if they did not) they would use trusts, because then they could keep the assets under their control.
Read moreHistorically, farming agricultural land has provided steady yields and inheritance tax relief, whilst supermarkets and developers bestowed occasional windfalls on those with fields in the right place. Beyond that, opportunities have been limited as robust land prices left many rural landowners asset rich but cash poor.
Read moreI have recently provided my daughter with funds to buy a flat in her own name and she wants her boyfriend to move in. Could he have a legal or financial claim on the property if they split?
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