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Power of Attorney System in England and Wales: Attacked by Retired Senior Judge

September 18, 2017 | Private Client

Retired Senior Judge at the Court of Protection Denzil Lush has warned of the lack of safeguards in the Power of Attorney system in England and Wales. In comments made to the BBC Mr Lush warned that lasting Powers of Attorney (LPAs) may leave elderly people open to financial abuse and can have a ‘devastating(Read more)

Where There’s a Will, There’s Not Always a Way…

August 17, 2017 | Private Client

A Will is undoubtedly one of the most important legal documents any of us should write. The absence of a Will, or the presence of a sub-standard Will, can cause serious complications for loved ones, at what is already an extremely difficult time. The purpose of a Will is not just to ensure your daughter(Read more)

Making Tax Digital: Consultation Period on Penalties

May 16, 2017 | Private Client

Making Tax Digital:  Consultation period on penalties for late online submissions and the payment of tax   In the Budget proposals for 2015, the government set out their plans for a modernised tax system and the end of filing tax returns each year.  At that time the government announced it would improve the service it(Read more)

The Importance of Making an Election if You Own One or More Properties

May 12, 2017 | Private Client

A recent case has highlighted the importance of making an election is you own one or more properties.  The facts of this case follow in very brief terms. Background On 25 June 2004, the taxpayer and his wife bought a property in London NW11. On the same day, they bought, in his name only, a(Read more)

What is Residence Nil Rate Band?

May 11, 2017 | Private Client

On 6 April 2017 a new top up called the ‘residence nil rate band’ (RNRB) was introduced. This is in addition to the existing nil rate band of £325,000 per person. The new RNRB allows you to give a proportion of value of your ‘residence’ to your ‘lineal descendants’ free of inheritance tax for deaths(Read more)

Controversial Probate Fees Scrapped

April 28, 2017 | Private Client

On 21 April 2017 the Government confirmed that the controversial plan to increase probate fees has been scrapped. The Ministry of Justice reportedly said that time has run out for the legislation to pass through Parliament prior to the snap election on 8 June 2017. Under the proposed changes a probate fee on a sliding(Read more)

A New Way of Reporting to HMRC

April 27, 2017 | Private Client

Will tax advisers have nothing to do in the future? A new way of reporting to HMRC The move to a more digital tax system should come as welcome news to the many taxpayers who already choose to report much of their information to HMRC online. An outline of returns currently submitted online Self- Assessment(Read more)

Making Tax Digital: What Will It Mean For You

April 10, 2017 | Private Client

Making Tax Digital is a government initiative that sets out a bold vision for ‘a transformed tax system and the end of the tax return’ by 2020. What will it mean for you? When I first prepared tax returns, there were just a couple of pages to contend with and for missing information you could(Read more)

What is an LPA?

March 16, 2017 | Private Client

What is an LPA? An LPA (Lasting Power of Attorney) is a legal document which allows you to choose another person or people to make decisions on your behalf. This might be, for example, when you are ill or cannot make decisions because you lack mental capacity. There are two main types of LPA: property(Read more)

Spring Budget 2017 highlights

Spring Budget 2017: Some Highlights

March 09, 2017 | Private Client

Mr Hammond launched the Spring Budget 2017 at lunchtime on 8 March 2017. This is to be the last Spring Budget as part of the government’s plan to simplify tax legislation in the UK. Below are a few highlights from the measures announced: Income Tax and National Insurance The Personal Allowance for income tax is(Read more)