Tax planning and trusts

Seven ways in which to minimise your Inheritance Tax bill

Posted by on

There are many advantages to good tax planning such as passing on wealth to the next generation and being able to see for yourself how it can positively affect their lives during your lifetime. More …

Digital assets and making a will

Posted by on

In January 2018 a unique, mint condition item was put up for sale in an online auction house and generated a huge amount of interest. We take a look at digital assets in more detail. More …

The Postcode Lottery

Posted by on

Inheritance tax (IHT) was originally intended as a tax on the wealthiest, but last year the Revenue claimed £5.2 billion in IHT, 60% more than five years ago. One of the reasons for this is the rise in property prices, with property hotspots like London bearing the biggest financial burden, and an IHT threshold that has not increased since 2009. More …

Residential care capital limit increases in Wales

Posted by on

The Welsh Government has advised that people in residential care in Wales, will see their capital limit increase from £30,000 to £40,000, meaning that they will be able to retain a further £10,000 of their capital (or savings) before having to pay care home costs. More …

Unravelling capacity

Posted by on

The term "capacity" is used so frequently and is often misunderstood. Legal and medical professionals are likely to have a different understanding of this powerful word, which ultimately determines whether someone may or may not be able to do a certain act. As it is Dementia Awareness Week, I thought it would be really useful to dispel any myths about this word and give some background information on why it is so important. More …

Safeguarding your health: LPAs and Messages in a Bottle

Posted by on

Dementia affects a person's capacity to make decisions as well as their general health and wellbeing. It is a condition which generally gets worse over time and is by its nature difficult to predict and manage. More …

ATED: Returns are now due

Posted by on

The window for the submission of this year's Annual Tax on Enveloped Dwellings (ATED) returns is now open. If you own a property above a certain value by way of a company, you should consider whether you need to file a return. The deadline for most properties will be by the end of April 2018. More …

ISAs – not so boring after all!

Posted by on

It is fair to say that most people have an ISA. Why wouldn't you? It's a straightforward, usually low-risk way of investing your money. ISAs are a good first step to saving as they are simple to manage and have tax benefits. More …

Digital Currencies: Issues for your tax and estate planning

Posted by on

Digital or crypto-currencies, the most common being Bitcoins, seem to be in the news every day, whether it’s a report of how their value has seen a mammoth rise (and a reasonably hefty fall), or governments raising concerns about their use and their current lack of regulation. This doesn't seem to have turned investors off, with a recent estimate considering that Bitcoins may have made between 20,000 and 200,000 people millionaires in the last few years! If you are thinking about or already hold investments in digital currency, there are a number of things to bear in mind in respect of your tax and estate planning. More …

Divorce: What can I do if I can't find my spouse? (or if they refuse to respond to the petition)

Posted by on

Ordinarily, when a couple decide to divorce, there is a dialogue between them as to this and matters surrounding the divorce. However, it can sometimes be the case that a spouse cannot be found. More …