Estate Planning: Farmer succeeds in proprietary estoppel claim against his own son!!!
In yet another family farm dispute, and there have been many recently, farmer JM Gee has made a successful proprietary estoppel claim on £8 million of farm assets, on the basis that his father assured him for 30 years that…
Read more
Estates may be undervalued as digital assets potentially go undeclared
Executors could be unwittingly undervaluing a deceased’s estate by failing to declare unsuspected digital assets such as online bank accounts, Paypal accounts, cryptocurrency, ownership of internet domains and so on, says the Institute of Legacy Management. Its response to the…
Read more
Whither Inheritance Tax? Big Changes in 2018 ???
Inheritance tax (IHT) has been around for more than 300 years. In its current form, it replaced the old Capital Transfer Tax, which had been developed with a philosophical basis – to protect the poor by deliberately redistributing inherited wealth…
Read more
GDPR & 25th May
A very good afternoon, As you may already be aware, new digital privacy regulations will be introduced on 25th May relating to General Data Protection (GDPR). I need your consent to send you email communications, particularly those relating to my…
Read more
UK wealthy struggle to understand inheritance tax
More than two thirds of UK individuals with assets of more than £325,000 do not know their estate may be liable for an inheritance tax bill, according to research by Canada Life. The annual research by Canada Life, called the IHT…
Read more
HMRC nets record £5.3bn in inheritance tax
HMRC collected a record £5.3bn in inheritance tax in the year to February 2018, according to private client law firm Wilsons. The revenue authority’s inheritance tax take increased by 13% compared to the £4.7 billion collected in 2016/17. Wilsons said…
Read more
Ken Dodd – ”Self -Assessment, I invented that”
The Last Laugh? Two days before his death the comedian married long-term partner Anne Jones, with whom he had shared his Liverpool home for the past 40 years. While the couple were reportedly delighted to have finally tied the knot,…
Read more
Government in line for Inheritance Tax boost as savers unclear on ISA rules – Canada Life
Inheritance tax (IHT) receipts from ISA investments are set to soar as more than half of savers do not realise they form part of people’s estates, Canada Life has warned. Exposure to Inheritance Tax The provider said its annual IHT…
Read more
Partial success for farmer’s daughter in proprietary estoppel claim
Anyone observing family disputes over farming businesses over the past few years will probably have reflected on the wisdom of making succession plans as clear as is practical. Unfortunately, family ‘understandings’ lack clarity and formal undertakings. Chapter 3 of my…
Read more
Simplifying Inheritance Tax: The Latest!
The Chancellor Philip Hammond has written to the Office of Tax Simplification (OTS) asking it to carry out a review into inheritance tax, which he said is “particularly complex” at present. In the letter, addressed to OTS chairman Angela Knight…
Read more