Newsletter

Reasons for setting up a trust A trust is a legal arrangement which enables a person (‘the settlor’) to transfer the legal ownership of property, shares or cash to another person (‘the trustee’) to hold on behalf of a third person or persons (‘the beneficiary”). The main...

Probate tax The Government has announced that the cost of obtaining probate of a deceased person's estates is to be changed and will in future be linked to the value of the estate. At present, the fee is £155 when applications for probate are made by solicitors,...

Whilst Philip Hammond’s first (and last) Spring Budget delivers a rosy assessment of the British economy with unemployment at an eleven year low, it is overshadowed by the imminent triggering of Article 50 and big questions over the UK’s global economic future outside the EU. In making sure...

As we approach the end of the 2016-17 tax year on 5th April, it's important to review your personal tax allowances and finances in general.   Pension Contributions The maximum pension contribution on which tax relief can be claimed in any one year is £40,000, but if income...

The writing on the wall HM Treasury has issued a new factsheet titled “Ways to save in 2017”, which describes Premium Bonds and the various forms of ISA but omits any reference to pensions. A similar factsheet issued in 2016 contained no such omission, and this has...

Theresa May's Brexit in seven sentences. 1) For the first time since Britain voted to leave the EU, Prime Minister Theresa May has outlined what kind of UK she'll be arguing for during negotiations with Brexit officials in Europe. 2) She sees the UK becoming an "equal"...

Executors’ dilemma Executors are responsible for paying inheritance tax which is due on the estates which they administer, but the necessary funds cannot be released from the estate until probate has been granted, and this will not happen until inheritance tax has been paid. So, how best...