Absentee Landlords - April 2010

 

 

 

 

 

 

 

  
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Absentee Landlords
In this issue:
March 2010 - Budget 2010 Update
February 2010 - Video Wills
January 2010 - If my spouse is not UK domiciled, does that matter for IHT?
 
Welcome to the Wansbroughs Private Client - Wills, Tax, Trusts and Probate Update for April 2010

We're changing our name! From 1 May 2010 the Tax & Succession Planning Team will have a new name, which explains more fully the work that we do. Our new name is Private Client (Wills, Tax, Trusts and Probate). We also have a Private Client (Property) team at Wansbroughs, which deals with conveyancing and residential property matters.
 
Absentee Landlords - Keep the Land Registry up to date

If you own a property in England or Wales, it is likely that your ownership of that property will be registered with the Land Registry. Since 2003, the Land Registry has held details of registered properties electronically (rather than on paper), meaning that anyone could potentially have access to details of property ownership.
 
As property is such a valuable asset, it is an attractive target for fraudsters. You should therefore do what you can to protect your ownership.
 
Property fraud can happen in many ways and, in particular, fraudsters may target properties that are not occupied by the owners, such as "buy to let" properties. There is a simple way to protect your property from such fraud, and this involves keeping the Land Registry up to date with your contact information.
 
You can provide the Land Registry with up to three contact addresses, one of which can be an email address and/or an address abroad. You can also use your solicitor's address or a family member/friend's address as a "care of" address.
 
It is free to update your contact details with the Land Registry, so if your contact address changes, remember to inform the Land Registry.
 
If you occupy the house that you own, you can be reassured that there is no need for you to worry. The above information is only of importance if you decide to let your property, or live elsewhere for a large part of the year. If you are concerned, get in touch with your usual contact at Wansbroughs.

Inheritance Tax The ‘nil rate band’ – that first part of an individual’s estate which does not attract inheritance tax – has been frozen at...

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Video Wills There has been news coverage recently of ‘video Wills’, whilst these might be an attractive idea to some people, they are not a replacement for a properly prepared written Will. ...

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If my spouse is not UK domiciled, does that matter for Inheritance Tax? An individual who is UK domiciled is liable to inheritance tax (IHT) on his worldwide assets if he gives them away or leaves them under his...

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