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Draft Regulations Allow ISA Tax Status To Survive Death

March 01, 2017 | Private Client

HMRC has published draft regulations that would allow the tax advantage status of ISAs to be retained after the death of the account holders. Current rules state that when the account holder dies, the tax advantage status of the account is lost, and the funds are usually moved to an account that is subject to(Read more)

Increased Probate Fees

February 27, 2017 | Private Client

On 24 February 2017 the Ministry of Justice published the Government’s response to the consultation on their proposal to reform court fees for grants of Probate. Despite extensive disagreement, the changes in the proposal originally published in February 2016 will be put to Parliament. The consultation documents sought opinions on a new fee structure for(Read more)

HMRC to Review Concentrix’s Management of Tax Credits

February 24, 2017 | Private Client

Many will recall the issues that were faced by those who attracted the attention of Concentrix in relation to their claim for Tax Credits between 2014 and 2016. In their Fourth Report of Session 2016-17 (HC720), the Work and Pensions Committee of the House of Commons noted that “(v)ulnerable people lost benefits to which they(Read more)

tax; employment

Out of Reach?

December 07, 2016 | Private Client

In October 2016 the decision of the First Tier Tax Tribunal was given in the appeal by Ireland Generator and Spare Parts LTD (the ‘Appellant’) against HMRC’s decision to disallow input tax in relation to the purchase of a car. Input tax is the VAT that a business is charged on business purchases and expenses.(Read more)

Employee or Not Employee? That is the Question

December 06, 2016 | Private Client

Mr Ashton appealed against a decision by HMRC to treat him as a self-employed partner rather than an employee of Karate World – a martial arts instruction business. In October 2003, the business was growing and the proprietor, Mr Thompson, decided to set up a partnership. A number of his employees were to be partners,(Read more)

National Insurance Numbers, Minimum Wage and Making Tax Digital

November 29, 2016 | Private Client

Problem with National Insurance Numbers HM Revenue and Customs has been issuing National Insurance number with a prefix KC.  It is understood that these may cause employers problems.  The numbers are valid and the individual receiving them should use them as normal.  Employers experiencing problems when submitting real time information data for the employee with(Read more)

Taxation of Non-Doms

November 03, 2016 | Private Client

HM Treasury have published a further consultation document on a proposal by the Government to extend the scope of inheritance tax to cover UK residential property held indirectly (enveloped) by non-domiciled individuals and trusts with settlors or beneficiaries who were non-domiciled.  This would be achieved by excluding certain types of assets from the definition of(Read more)

Donors Able to Appoint Joint Attorneys with Survivorship: Miles & Anor v The Public Guardian [2015] EWHC 2960 (Ch)

October 27, 2016 | Private Client

Justice Nugee of the High Court has found that a donor of a lasting power of attorney can appoint two attorneys to act jointly with the proviso that if one of them were unable or unwilling to act then the survivor should continue to act alone. This finding reverses an earlier decision of Senior Judge(Read more)

Transposition of 4 MLD

October 24, 2016 | Private Client

HM Treasury have published a consultation paper on the transposition of the Fourth Money Laundering Directive.  Subject to negotiations on Brexit, it is proposed that new legislative provisions will come into force by 26 June 2017 to implement Article 30 of the directive requiring Member States to use a central register to hold information on(Read more)

Digital Lasting Powers of Attorney

October 06, 2016 | Private Client

At the beginning of the summer, the Office of the Public Guardian (OPG) began consulting with those who draft Lasting Powers of Attorney (LPAs) about their experiences of the LPA service. Although the OPG is yet to publish its full findings, they have published some initial feedback on their blog. A key response from the(Read more)