Private Client

  • HMRC Guidance on Tax Residence

      Following changes in the tax legislation governing the income tax payable by non-domiciliaries, and some relevant tax cases, HM Revenue and Customs (HMRC) have issued a  guidance booklet (HMRC 6) . This replaces the old guidance, which was...

  • Meeting Long-Term Care Costs

    One of the often forgotten issues in retirement planning is the possibility of having to fund long-term care at some future time. Such care is means-tested and most care home residents of means will pay in full for their care. With an ageing population and...

  • Divorce and the Family Home?

    Family break-up is always complicated and when there is a property involved, things can get very complex indeed. In principle, when a couple are cohabiting (not married or in a civil partnership) the property belongs as of right to whoever is shown on the...

  • Falling Asset Prices and Inheritance Tax

    When an estate includes assets whose values can fluctuate, such as shares or property, a situation can arise where the value of an estate for Inheritance Tax (IHT) purposes is greater than the market value later on. This is currently one of...

  • IHT Guidance From the Tax Man

    HM Revenue and Customs (HMRC) have issued useful guidance on the mechanics of the transfer of the unused IHT ‘nil rate band’ between spouses or civil partners and gives several examples. One important point for executors is that a claim to...

  • Start of Year Tax Planning

    The early months of the tax year are a good time for savers to think about tax planning for the current year. In particular, now is a good time to think about investments that produce regular income – if you can find them. If you expect to have a...

  • What is a Trust Fund?

    A trust comes into effect when a ‘settlor’ places money, land or other assets in the hands of trustees. The trustees are the legal owners of the property but are obliged to hold and manage the property for the benefit of a person or a group of...

  • Estates - What Happens if Values Fall

    One of the biggest problems now facing executors is that as the recession progresses, most assets, other than cash, are falling in value, which can mean that the value of an estate for Inheritance Tax (IHT) purposes is greater than the market value later on....

  • Child Maintenance Explained

    In spite of reforms introduced in 2003, the Child Support Agency (CSA) was heavily criticised for failing to meet its objectives. With nearly £4 billion worth of unpaid child maintenance estimated to be outstanding, clearly something had to be done....

  • Heir Hunters - Take Advice!

    Until the recent publicity afforded by television shows on the subject, many people might not have realised that ‘heir tracing’ companies exist, let alone that they research ‘promising’ estates by looking at public records and then...

  • Adoption Process Explained

    The most important requirements for adoption are that the adopter must be over 21 years of age, the child to be adopted must be under the age of 18 and that joint applications to adopt can only be made by married couples and civil partners. Unmarried couples...

  • Buying Abroad - Considerations

    After another cold, wet summer and with dull economic prospects at home, you might be thinking of buying a property abroad or even making a permanent move to foreign climes. If so, as well as it being essential to take independent and high quality legal...

  • Buying a House and Consumer Protection

    With the advent of Home Information Packs (HIPs), the appointment of an Ombudsman for Estate Agents (OEA), the laying down in statute of the duties of estate agents and the recent passing of the Consumers, Estate Agents and Redress Act 2007 (CEARA), a...

  • Stamp Duty Land Tax: Beginner's Guide

    Stamp Duty Land Tax (SDLT) is a self-assessed tax. The onus is on the taxpayer to make the necessary land transaction return, calculate the tax and pay it across. This is a fundamental change from the old Stamp Duty regime which taxed documents of...

  • What Happens on Intestacy?

    The levels of statutory legacy (the amount that surviving spouses or civil partners are allowed to inherit if their spouse/civil partner dies without leaving a will)  were increased from 1 February 2009 to the following: • £250,000 (from...

  • Fact Sheet - Disclosure to Mortgage Lenders of Incentives for Buyers

    This fact sheet provides guidance for those involved in the development of residential properties whether new builds or conversions of existing properties . On 1 September 2008, the Council of Mortgage Lenders (CML)  introduced new procedures in...

  • Selling Your Property at Auction

    In recent years, increased mobility and growing rates of home ownership have meant that ever-larger numbers of people nowadays inherit properties from relatives who lived many miles away. Similarly, many buy-to-let properties have been purchased in areas...

  • Mortgage Exit Administration Charges - Consumer Redress

    When you ask for a redemption statement from your mortgage lender, it can come as an unpleasant surprise to see an additional charge termed ‘mortgage exit administration fee’ (MEAF), which, while it will be shown in the mortgage offer letter, is...

  • HIPs - Frequently Asked Questions

    Here are some 'frequently asked questions' (FAQs) on Home Information Packs (HIPs). These FAQs are based on information released by the Government on 1 August 2008.

  • Cohabitees and Death - Who Can Claim?

    When one member of a cohabiting couple dies, it can come as an unpleasant surprise to the bereaved partner to discover that not all of their late partner’s estate will pass to them in the absence of a will. It is only when this happens that many people...

  • Taking Children into Care - The Legal Process

    We often hear of children being taken into care, but the process by which this occurs is not well known. The Children Act 1989 lays down the circumstances under which it is appropriate for a child to be taken into care or a supervision order made. The...

  • Unlocking Your Equity - the Choices

    There is a bewildering variety of equity release schemes on the market and, judging by the letters pages of the financial press, they are not well understood. Releasing equity in a house can be an effective way of supplementing your income or releasing spare...

  • The Duties of Mortgage Lenders

    The instability in the financial markets recently means lenders are taking a tougher stance on lending and repossessions are rising. When mortgage arrears are serious and/or there is a breach of the mortgage covenants, the lender will usually seek an order...

  • What is Phased Retirement?

    Phased retirement is the term given to the process by which retirement pensions are split into segments, which are then treated separately. It makes use of the rule in the UK that allows a retirement policyholder to take each pension policy at a time of...

  • Putting Cash into a Family Business

    When younger members of a family start a business, they often ask other family members to provide part of the necessary capital. If you are approached to do this and are willing to provide funding, it is often difficult to know how best to provide the cash....
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