Insights: Helena Luckhurst

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Fladgate sponsors Family Office & Wealth Management Conference

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Fladgate LLP is delighted to sponsor DC Finance’s Family Office & Wealth Management Conference on 13 June 2017. With over 400 ultra and high net worth individuals and family office executives in attendance, this is one of the world’s largest wealth management events held annually at the Hilton Tel Aviv.  This prestigious conference provides an […]


Protecting personal representatives: interim estate distributions

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How should a personal representative (PR) deal with a request from a beneficiary for an interim distribution before the estate is finalised?  Estates can take many months to conclude but a beneficiary may be in need of some of their inheritance sooner.  Can an executor help out without putting him or herself on the line? […]


Finance Bill 2017: Non-dom tax changes dropped – for now?

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The Finance Bill 2017 contained a number of measures altering the way in which long term UK resident non-doms and UK residential property held in certain offshore entities would be taxed in the UK. However, last week it became clear that all of the non-dom tax changes would be dropped from the Finance Bill, to […]


‘No looking back’ – one ATED tax trap to avoid

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April is ATED filing month – 2017/2018 ATED tax returns must be filed and any ATED tax paid by 30 April at the latest. Even if no ATED is due, because a relief from ATED applies, that relief still needs to be claimed on an ATED tax return, which must be submitted by the end […]


MiFID II and UK trusts: time to apply for another ID number

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Trustees of UK trusts holding a UK managed investment portfolio will soon need to apply for a Legal Entity Identifier (LEI) number from the London Stock Exchange. The EU legislation known as the Markets in Financial Instruments Directive (MiFID) affects firms who provide services to legal entity end users which involve financial instruments, such as […]


Ilott v Mitson Supreme Court decision: UK testamentary freedom reasserted

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Last week, the Supreme Court brought to an end a 13 year legal battle over the late Mrs Jackson’s Will. The Will left virtually all of Mrs Jackson’s assets (some £480,000) to three UK charities, cutting out entirely her only child (Mrs Ilott), who was for many years estranged from her mother but who lived […]


Fladgate sponsors Family Office & Wealth Management Conference

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Fladgate LLP is delighted to announce its sponsorship of DC Finance’s Family Office & Wealth Management Conference on 13 June 2017. With over 400 ultra and high net worth individuals and family office executives in attendance, this is one of the world’s largest wealth management events held annually at the Hilton Tel Aviv.  This prestigious […]


How to manage UK probate fee increases

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Currently most applications made by solicitors for a UK grant of representation for a deceased’s estate incur a flat fee of £155 payable to the Probate Registry. However, perhaps within a little over two months’ time, a grant could cost as much as £20,000! How did we get here and, more importantly, what can be […]


A simple way for non-dom married couples to manage the Inheritance Tax on UK residential property from 6 April 2017

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Offshore companies holding UK residential property will no longer be opaque for UK Inheritance Tax (IHT) purposes from 6 April 2017.  The change is being achieved, courtesy of the Finance Bill 2017 as currently drafted, by removing IHT ‘excluded property’ status from an interest in a closely held company (see the 15 December 2016 article ‘UK […]


Property Pinball, Part 2

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In the second part of their article on the inheritance tax residence nil-rate band, John Woolley and Helena Luckhurst consider the downsizing relief. In ‘Property pinball’ (Taxation, 26 January 2017) we looked at the main provisions of the inheritance tax residence nil-rate band (RNRB), which will apply from 6 April 2017. As mentioned, advisers dealing with […]


Finance Bill 2017 tax changes: how can UK resident non-doms protect their offshore trusts?

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To date, UK resident non-doms may not have been greatly impacted by the UK tax system’s plethora of measures to try to get the foreign income and gains received by offshore trusts (i.e. trusts that are not UK tax resident) taxed in the UK.  This is because one of the key anti-avoidance provisions, the ‘S.86 […]


Property pinball

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A special inheritance tax relief, the residential nil-rate band, is fast approaching. John Woolley and Helena Luckhurst consider pitfalls and opportunities. The inheritance tax residence nil-rate band (RNRB) becomes available from 6 April 2017. Those advising on estate planning or drafting wills will need to be conversant with this new tax relief. Otherwise there will […]