Inheritance Tax & Covid-19
Welcome to February! According to the latest HMRC figures published, inheritance tax receipts hit a five-year high in the final quarter of 2020. Receipts steadily rose from August onwards and peaked at a five-year high in October 2020. While this…
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Inheritance Tax, Crucial Reliefs & Covid 19
Many thousands of people in the UK have lost their lives during the Covid-19 pandemic and about 5% of those deaths will probably result in an inheritance tax charge. Inheritance tax is charged on the estate of a deceased…
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Time to Secure Crucial Business Reliefs before they Fade Away?
Business Property Relief and Agricultural Property Relief are both ways of passing on assets without needing to pay Inheritance Tax. The reliefs can currently achieve up to a 100% tax saving, meaning assets that fall into these categories – such…
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What issues does Covid-19 raise for Estate Planning in 2020?
Massive public spending during the Covid-19 crisis means the government will almost certainly increase taxes in the short to medium term. Additional austerity seems implausible and government borrowing is already stretched. The government will be emboldened in its revenue-raising task…
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Covid 19 & Tax Planning
By the time we emerge from the Covid 19 crisis the UK will be vastly more indebted. Households, companies and the state will be carrying much more debt and be much more risk averse. The Bank of America believes the…
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Covid 19, Wills & Tax Planning
Covid 19, Wills & Tax Planning Ian Bond TEP, chair of the Law Society’s wills and equity committee, recently stated to the Daily Telegraph that levels of requests for will drafting are now up 30 per cent. That corresponds to what I have…
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