Personal tax planning

8 February 2019

Act quickly! The new probate fee ‘stealth tax’ moves a step closer

The House of Lords has voted through the proposal which will introduce a new stealth death tax for the middle classes from April 2019. The fees payable to the Probate Registry will be dramatically increased from a flat rate of £155 for a solicitor application or £215 for a personal application for estates above £5,000 to a maximum of £6,000. 

Diva Shah

6 December 2018

Inheritance Tax - why do so many fall into the 'Gift With Reservation of Benefit' trap?

Saving Inheritance Tax (IHT) on death by making a gift and surviving by seven years is standard tax planning sanctioned by statute. However, if you make a gift but ‘reserve a benefit’ in the property given, it will still be brought into charge on death, regardless of how long you survive.

Jim Sawer

26 February 2018

IHT and CGT - uncomfortable bedfellows? Don’t overlook possible Capital Gains Tax exposure in your Inheritance Tax Planning

Inheritance tax (IHT) and Capital Gains Tax (CGT) share the handle of 'capital' taxes. They have an uneasy relationship. They’re comfortable when doing their own thing; CGT a charge on capital profits, IHT a levy on the value in a deceased’s estate. But there are many occasions when they both come into play, giving both opportunities for effective planning and expensive traps for the unwary.

Jim Sawer

15 May 2017

United Arab Emirates - the latest "tax haven" to sign up to enhanced tax transparency

On the 21 April 2017, the United Arab Emirates (UAE) officially signed up to the Multinational Convention on Mutual Administrative Assistance in Tax Matters.

David Sleight

10 November 2016

Absolute Discretion - the right to be unreasonable?

Many modern trusts are fully discretionary. The trustees might be empowered to apply the trust assets  “...for such one or more of the beneficiaries, in such shares, at such ages, and on such trusts as my trustees shall, in their absolute and uncontrolled discretion, decide".

Jim Sawer

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