A recent case in the First Tier Tax Tribunal is attracting attention in the press. Under images of a tropical paradise unfolds the story of a personal representative who may be left personally out of pocket to the tune of £340,000 after a beneficiary left the country for Barbados with the estate’s funds.
The 2018 FIFA World Cup football tournament in Russia has kicked off. The Word Cup fever should not be regarded by your business as a negative. You should embrace this opportunity to boost staff morale and consequently maximise your employees’ engagement and productively in your business.
... but only if that Will is valid! This month, a woman walked out of the Court of Appeal with the entire fortune of her late husband, despite a Will written in 2012 only leaving her £15,000 and the rest to his son and grandson. The 2012 Will was not executed correctly and therefore was not binding, and as a result his estate passed in accordance with the terms in his previous Will, written 15 years earlier.
It’s the topic nobody enjoys thinking about but in the words of Benjamin Franklin, "nothing can be said to be certain, except death and taxes". In fact, taxes are so certain, they follow us beyond the grave. For example, for many, our biggest asset is our home and will be the most substantial gift we can leave to our loved ones. Unfortunately with the increase in property values, it is often the case that if you are leaving your property to a loved one, other than your spouse who can benefit from the spouse exemption (see our article Ken Dodd’s Last Laugh), they could be met with a whopping inheritance tax bill.
Your guide on how to move in time for summer... Now is the ideal time to be looking for your new home so you can move in time for the summer and make the most of the longer days. So what do you need to consider?
“The claimants have applied to the Supreme Court for permission to appeal against the decision of the Court of Appeal. A detailed note on the Court of Appeal’s decision is available here. The defendant’s solicitors have been told by the Supreme Court Registry that the application for permission will be placed before the justices for their consideration this week, and that a decision will be notified to the parties. When the defendant’s advisers are officially informed of the outcome of the permission application, a further news item will appear here. The defendant is represented by Edward Faulks QC and Paul Stagg, instructed by Rob Hams of Wansbroughs.”