Recent Articles

Case Summary (Matrimonial Dispute – Construction of Trust as Tantamount to General Power of Appointment): MaC v MeC [2016] NZSC 29

July 11, 2016 | Wills and Probate

Mr and Mrs C were married in 1989, had two daughters who were born in 1990 and 1994, separated in 2000 and were divorced in 2009.  By the time of the separation Mr C had built up a significant saw milling and timber processing business, which operated from land and buildings in Vaughan Road, Rotorua. (Read more)

Case Summary (Farming Partnership – Rescission of Transfer for Mistake): TB & CB v PB [2016] EWHC 898 (Ch)

July 11, 2016 | Wills and Probate

The Claimants, who were father and son, farmed together in partnership Seamer Grange Farm.  There were advised to place this property in trust and that there would be no capital gains tax chargeable on the transfer.  Unfortunately, the advice which they had been given was incorrect; capital gains tax was exigible on the transfer, amounting(Read more)

Challenging a Will - Who Pays the Costs?

July 08, 2016 | Dispute Resolution, Wills and Probate

There are legions of disappointed relatives when it comes to the possibility of inheritance.  Should the expected legacy not materialise, suspicions that the deceased was “got at” or lacked mental capacity will often rise to the surface. The normal step, if a Will is to be challenged, is to enter a “caveat” at the Probate(Read more)

Computer Says No

June 28, 2016 | Wills and Probate

In January 2016, the First-Tier Tribunal Tax Chamber determined an appeal made by Mr Halford against a penalty imposed on him for late payment of tax. Mr Halford appealed a £72 fine and interest levied against him because he had failed to pay his income tax on time. Mr Halford completed his tax return online(Read more)

HMRC Opens Consultation on New Corporate Tax Offence

June 07, 2016 | Wills and Probate

HMRC has opened a second consultation in relation to draft legislation for the corporate offence of failure to prevent the criminal facilitation of tax evasion. The first consultation on this new offence took place in July 2015 with a first draft of the legislation being produced in December 2015. A revised draft has now been(Read more)

The Panama Papers: Now a Searchable Database

June 03, 2016 | Wills and Probate

Earlier this month, the International Consortium of Investigative Journalists (ICJI) published a searchable database of some of the information revealed as part of the Panama Papers investigation. The ICIJ has made it very clear on their website that no-one named in the database is thereby implicated in any wrong doing.  The database covers 40 years(Read more)

Taxpayers to Pay to Appeal to Tribunals

May 13, 2016 | Wills and Probate

The Ministry of Justice have decided to proceed with its proposals to introduce fees to be paid by the users of the Tax Chamber of the First-tier Tribunal and the Tax and Chancery Chamber of the Upper Tribunal.  The fee proposals for the Tax Tribunals are now: Paper case: £50 issue fee (£50 total); Basic(Read more)

Renewals Allowance Abolished

May 13, 2016 | Wills and Probate

The renewals allowance for property businesses is to be repealed.  Alternative provisions now provide relief for this type of expenditure under the capital allowances regime or the new replacement relief for landlords.  The measure came into force for expenditure incurred on or after 6 April 2016 for income tax and from 1 April 2016 for(Read more)

New Minimum Wage Rates

May 13, 2016 | Employment, Business Services, Wills and Probate

The Low Pay Commission’s recommendations for increasing the national minimum wage from next October have been approved.  The new rates will be as follows:   From 1 October 2016 Until 1 October 2016 Adult hourly rate (21-24 year olds) £6.95 £6.70 18-20 year olds £5.55 £5.30 16-17 year olds £4.00 £3.87 Apprentice Rate £3.40 £3.30(Read more)

Annual Charge on Enveloped Dwellings (ATED) Threshold Lowered

May 13, 2016 | Wills and Probate

From 1 April 2016 ATED applies to residential properties worth more than £500,000 which are owned by non-natural persons such as companies, trusts or other investment vehicles.  The chargeable amounts from 1 April 2016 to 31 March 2017 are as follows:       Property Value Annual Charge (£) Over £500,000 but less than £1(Read more)