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“A stamp duty land tax surcharge of 3% is to be added to buy-to-let and second homes from 1 April 2016. This means the SDLT for a £275,000 property will increase from £3,750 to £12,000. The move by HM Treasury has been described as 'catastrophic for the private rented sector' by lettings experts. Agents warn(Read more)
In this case, a non-domiciled settlor settled excluded property on the trusts of a settlement resident in Jersey. The settlor later became deemed domiciled for inheritance tax purposes, trust property was then transferred to another settlement and sold for cash that constituted UK situs property and transferred back to the first settlement and reinvested in(Read more)
In this case, the Executors sought the true construction; alternatively, rectification of the Will. The Will had been so badly drafted that there were several issues, principally as to whether the Deceased’s residuary estate should be treated as comprising all of her personal and real property after the payment of debts, funeral and testamentary expenses;(Read more)
On 15 December 2015 The European Commission adopted new rules to make it easier for EU Member States’ tax authorities to exchange financial information so that they can ensure full tax transparency and cooperation. The detailed rules mean that the practical arrangements are now in place for the entry into application of the amended Directive(Read more)
We often get asked about personal debts especially where a person died in known financial difficulty. Do the debts die with you or do they live on to burden your family members? The good news is that those left behind are not normally responsible for those debts. The exception here are is if another person(Read more)