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18 05, 2017

Old documents can be very valuable

The Personal Representatives (PRs) of a surviving spouse must claim the transferable NRBs. Transferable NRBs will not be given automatically. The claim must be made within 2 years of the death of the second to die. The claim is made by the form IHT402 which is sent to HMRC together with the IHT400. The following [...]

3 05, 2017

Avoiding Care Fees

Many of you will have seen the recent article from the BBC regarding the use of Trusts for the primary reason of avoiding care fees. This relates to a particular company actively promoting a specific type of trust advertised explicitly for the avoidance of care fees. You should be aware that if there is clear evidence [...]

2 05, 2017

Fundamentals of the Residential Nil Rate Band (RNRB)

  How much is available? 2017-2018          £100,000 2018-2019          £125,000 2019-2020          £150,000 2020-2021          £175,000 The Residence Nil Rate Band (RNRB) was introduced on 7th April 2017 and will be phased in over 4 years with the full £175k allowance available by April 2020. These are the maximum allowances and the available allowance will be reduced if [...]

25 04, 2017

How to Get Help With Funeral Costs

The average funeral now costs nearly four thousand pounds, and the costs of burial, cremation and funeral director’s services have nearly doubled in the last quarter of a century. While it’s unpleasant to even think about planning for your own funeral or that of a friend or family member, there are programs out there that [...]

23 04, 2017

Probate fees increase abandoned

BREAKING NEWS - Proposed probate fee increases scrapped The Government’s decision to change the flat-rate probate fee to a tiered system based on the value of the estate has been scrapped following an announcement by the Ministry of Justice (MoJ) in the last few days. The proposed fee changes, which could have seen the cost of [...]

14 03, 2017

Power of Attorney or trust to Joint Bank Accounts?

There has been much debate recently about whether a Power of Attorney is relevant where clients own joint bank accounts. There is a general misconception that when one party loses capacity the party who still has capacity can still access the funds. THIS IS INCORRECT! The British Bankers' Association guidance states that when dealing with a [...]

24 01, 2017

Lifetime ISA launch date confirmed

Source: HM Treasury | | 18/01/2017 The new Lifetime ISA will be launched from April 2017. The Lifetime ISA is designed to help those aged between 18 and 40 to save for a new home or for their retirement. The launch of the scheme was confirmed when the Savings Bill was enacted on 16 January 2017. [...]

6 01, 2017

7. What is SUCCESS?

We live in a culture which places great value on success, achievement, security and predictability, but which does not want to admit that we have to let go of control when we die. The imperative is to pass on the baton of responsibility to those we trust. Therefore, when we hand them the tools to [...]

5 01, 2017

How to avoid a tragedy on holiday

Heartbreak on Holiday Every year around 4,000 Brits die abroad, (from the Foreign and Commonwealth Office.) Most deaths happen in Spain – 856 in 2013-14 – but, considering the large British population there, the country that’s seen as riskiest for travellers is the Philippines. Here’s what you need to know, should the worst happen... Losing [...]

27 05, 2016

AIM Inheritance Tax Service ISA

You no longer have to give up the tax advantage of your ISA in order to shelter your ISA portfolio from IHT. HOW IT WORKS -The provider invests on your behalf into shares in a diverse selection of established companies, quoted on the AIM market, that qualify for Business Property Relief (BPR). BPR is a [...]

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