Home owners be aware (beware) of Capital Gains Tax

Home owners be aware (beware) of Capital Gains Tax

  Most of us ignore Capital Gains tax on houses, after all your house has the benefit of the Private Residence Exemption.  The first issue here is that it is the Principal Private Residence Exemption not just the Private Residence exemption.  If you have a second...
Simplifying the design of inheritance tax

Simplifying the design of inheritance tax

This is the title of a report issued by the Office of Tax Simplification (OTS) at beginning of July.  It is in fact the second report issued by the OTS on inheritance tax but the first related purely to the administration and is not the sort of thing of great interest...
What to do when a loved one dies

What to do when a loved one dies

When someone close to you passes away, it can be difficult to know what exactly needs to be done in the immediate aftermath from an administrative point of view.  This guide is designed to help you navigate the process in a methodical way. Getting hold of their WillIf...
Revocable Trusts, Living Trusts and Family Settlements

Revocable Trusts, Living Trusts and Family Settlements

There are many trusts names / types that are frequently quoted to us by people who tell us that they have read about them on the Internet, in a newspaper article, heard about them from a friend in the pub or at the dinner table. Normally we are told that this is the...
How can I avoid inheritance tax?

How can I avoid inheritance tax?

Trying to find ways to avoid Inheritance Tax (IHT) has become an everyday question in recent years. IHT avoidance is largely driven by the property market over the last 30 years, now more and more people have assets over the thresholds and are trying to find solutions...
What are the responsibilities of a trustee?

What are the responsibilities of a trustee?

We are frequently asked what the responsibilities of a trustee are, and sadly it is one that is very difficult answer adequately. We can provide some fairly generic advice but precise advice is often tailored to each case. So what is a trustee? Trustees must look...