Private Client Issues – December 2018
Welcome to this month’s edition of Private Client Issues, Blake Morgan’s monthly round-up of the topics you may find of interest. Insight and advice on developments affecting private individuals.
2018 Budget (somewhat) resurrects previously-scrapped changes to probate court fees
Back in early 2017, a government consultation into a change in probate court fees took place. Thankfully, this change ultimately never transpired. The most recent Budget heralds a second attempt. What are the differences this time?
First Time Buyers’ Relief
In light of the 2018 budget, we take another look at the relief from Stamp Duty Land Tax (SDLT) available for first time buyers paying up to £500,000 for a residential property within England, Wales and Northern Ireland.
The Postcode Lottery
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.
Leasehold Enfranchisement – Consultation on Reform
The Law Commission has published a consultation paper on leasehold enfranchisement reform promising a comprehensive review of leaseholders’ rights.
SDLT revenue figures’ review
Recent figures show the level of receipts from Stamp Duty Land Tax. Our SDLT expert takes a look in more detail.
Oxford proving popular for potential property buyers
An increasing number of individuals looking to leave London are now putting Oxford at the top of their list. We take a closer look at why.
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.
We would like to send you our warmest wishes for the festive season along with a happy and prosperous New Year from all at Blake Morgan. Being the season of giving, throughout 2018 each of our offices supported the following charities.
- Southampton: Countess Mountbatten Hospice Charity
- Oxford: Homeless Oxfordshire
- Cardiff: Huggard
- Reading: ReadiStreet
- London: The Royal Marsden Cancer Charity
- Portsmouth: Solent Mind
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