Insights

IHT, Wills, Trusts

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July 19, 2024

What the new labour government means for business


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Following their victory in the 2024 UK election, the new government have to begin to deliver on their manifesto. Heres what is will mean for businesses.

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June 10, 2024

The importance of a well-drafted will


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The risk of relying on homemade wills was highlighted in a recent case where a will was held to be invalid. Even a well-written will must be kept up to date given the possibility of future inheritance tax (IHT) changes.

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April 15, 2024

How much does retirement cost?


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New research has put some surprising numbers on the income needed in retirement.

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March 25, 2024

How to navigate the £500 trust income exemption


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The introduction of a £500 income exemption from 6 April 2024 will impact many trusts. It comes with various complications, especially as income within the £500 exemption will still be taxable in the hands of beneficiaries.

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December 11, 2023

The decline of trusts


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The number of trusts filing self-assessment tax returns for 2021/22 was 37% lower than for 2003/04. The decline comes as no real surprise given the eroding advantages of using a trust and the recent requirement to register trusts with HMRC.

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November 6, 2023

An uncertain future for the Triple Lock


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State pension increases could be outpacing inflation next April, and there’s no guarantee of the Triple Lock surviving the next election.

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October 9, 2023

Deferring your state pension


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Most people draw their state pension as soon as it becomes available, but If you do not make that claim your state pension is automatically deferred until you choose to claim it.

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September 4, 2023

Intestacy entitlement increased


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If an English or Welsh domiciled person dies without leaving a will, the amount that a spouse/civil partner can inherit has increased.

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July 3, 2023

More estates paying IHT


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The average IHT bill is now nearly £62,000, with much larger amounts payable if an estate includes a property in London or the South East.

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Inheritance tax receipts
October 5, 2022

Inheritance tax receipts double in a decade


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New data from HMRC show the Treasury’s inheritance tax (IHT) receipts have doubled since 2012/13. Source: HMRC. Of all the various taxes levied in the UK, IHT is one of

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April 12, 2022

IMPORTANT CHANGES TO TRUST LEGISLATION


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You may not be aware of some new legislation which has been announced that forces nearly all trusts to register with HMRC before 1 September 2022, whether or not they

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March 31, 2022

Protecting the normal minimum pension age


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The normal minimum pension age (NMPA) will increase from 55 to 57 on 6 April 2028, although a protected pension age regime will be introduced. This will allow those who

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