What do SKI-ing and Inheritance Tax have in common?

17 October 2013

On a week’s escape from the office recently, I had the pleasure of residing at a rather swanky Yorkshire hotel for a few days. I was enjoying the novelty of a leisurely read of the paper over breakfast when I found my attention drawn to a conversation ensuing offstage left. A lady was regaling her […]

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A ‘how to’ for attorneys and deputies

3 October 2013

When a person loses capacity to look after their UK situated assets, usually someone has to assume responsibility for their management. The well advised have often made an Enduring Power of Attorney, or nowadays, a Lasting Power of Attorney naming someone they trust to act as their attorney. For everyone else, there’s the Court of […]

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Succession planning for EU residents

19 September 2013

A mini revolution is about to take place in the world of Will drafting for EU residents, including British nationals owning assets on the Continent. Not many lawyers seem to be talking to their clients about it yet so naturally I want you, dear blog reader, to be among the first to know. It’s all […]

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Married couples and the Koshal case

4 September 2013

The recent case of Koshal (Koshal and another v HMRC [2013]) provides a useful reminder that married couples need to take particular care when it comes to declaring income from most of their jointly owned assets. Whilst husbands and wives are taxed as individual taxpayers, this is a classic example of where a joined up […]

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Intra-family debts and IHT

20 August 2013

The deductibility of debts for inheritance tax (IHT) purposes is a hot topic at the moment, following the changes introduced to IHTA 1984 by this year’s Finance Act.  However, it’s easy to overlook more mundane loans between family members. Not surprisingly, these loans often remain undocumented as they tend to be informal arrangements.  However, that […]

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A tip for Lasting Powers of Attorney

15 August 2013

Lasting Powers of Attorney should be regarded as central to any family’s wealth planning armoury. Even non-UK domiciled individuals should make one if they directly own UK assets (something that those de-enveloping UK real estate from offshore structures into direct ownership should be being advised about, but that’s another story). It is no laughing matter […]

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ATED tax returns

5 August 2013

The final version of the tax return for the new Annual Tax on Enveloped Dwellings (ATED) has been published by HMRC. So, now is the time to start thinking about whether ATED applies to you or your clients. ATED is only a potential concern if a corporate entity, or a partnership with a corporate member, […]

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Welcome to my first posting!

24 July 2013

Those of you that know me and my technological shortcomings will no doubt be amazed that I have started a blog. So, why am I posting? The short answer is – wealth lawyers need to communicate more. Yes, really! As a private wealth lawyer, I meet a lot of people from many different walks of […]

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