Private Client Issues - October 2016
Welcome to this month's edition of Private client issues, Blake Morgan's monthly round-up of the topics you may find of interest.
Would you leave a gift to charity in your Will?
Prompted by Blake Morgan's involvement in Remember a Charity week, there has been a lot of discussion about the number of people who leave a gift to charity in their Wills and our polls revealed that 70% of respondents are planning to leave a fixed sum of money to a charity in their Will. But what else did our polls reveal and how do you leave a legacy?
Additional 3% stamp duty land tax surcharge on granny flats and other dwellings
The additional 3% SDLT surcharge on residential properties, was intended to apply to second homes and buy to let properties. But there was a glitch in the 'higher rates' rules as they apply to properties with granny flats or other subsidiary dwellings. Blake Morgan looks at the issues for these transactions and the reliefs available.
When you separate from your husband or wife, or civil partner, there are lots of matters to sort out. Unsurprisingly, perhaps, tax issues are often not high on people's agendas. But tax shouldn’t be forgotten as it could impact the decisions you make with regards to your properties and other assets.
Can I change my child's first name?
A recent survey has shown that almost 20% of people would pick a different name for their child if given the chance again, although in reality only 1 in 50 parents do change their child's name. But what are the legalities behind changing a child's name, and what happens when parents don’t agree?
If you are impacted by any of the above topics or you would like further information on how we can help you, please contact your usual Blake Morgan adviser.