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Are we going to see changes to Inheritance tax or Capital Gains Tax?

Are we going to see changes to Inheritance tax or Capital Gains Tax?

Are we going to see changes to Inheritance tax or Capital Gains Tax? When I first agree to write this article it was assumed that the March budget would include provisions to tighten up Capital Gains tax (CGT) and Inheritance tax (IHT). But there were no announcements...
Update: Registering a Trust with HMRC’s Online TRS

Update: Registering a Trust with HMRC’s Online TRS

Update: Registering a Trust with HMRC’s Online TRS As part of the UK government’s implementation of the 5th EU Money Laundering Directive almost all Trusts are required to be registered with HMRC using the Online Trust Registration Service (TRS). Online Trust...
What is a Trust

What is a Trust

What is a Trust Broadly speaking, a Trust is an arrangement under which property i.e. land, cash, investments, or some sort of rights such as copyrights, is held by a person or organisation on behalf of one or more people.  The people holding the property are called...
What are the duties and responsibilities of a Trustee?

What are the duties and responsibilities of a Trustee?

What are the duties and responsibilities of a Trustee? In very simple terms the job of the Trustees is to give effect to the terms of the Trust and or the wishes of the Settlor. This sounds quite simple and in the case of some trusts it is relatively simple. If the...
Executor, Trustee and Attorney Services

Executor, Trustee and Attorney Services

Executor, Trustee and Attorney Services As a general rule, Herrington Carmichael encourages clients to use friends and family for the roles of Executor, Trustee or Attorney. However, there are occasions when this is not practical and in such cases, it may be wise to...