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ICAEW’s new Guidance on Disciplinary Sanctions: what accountants and accountancy firms need to know
Jenny Higgins
Whether you are in the market for short-term profit or making long-term investments, adequate planning is certainly a worthwhile (and small) investment of your time and money. If you’ve been savyy enough to successfully invest in crypto-assets, make sure you are smart enough to ensure your loved ones can benefit, should the worst happen.
Both the Guardian and the Independent carried articles earlier this week centred on the statistic that the average rate of Inheritance tax (IHT) paid on the deaths of the very wealthy is 10% while the average rate on more 'modest' estates of between £2 million and £3 million was 20%.
2007 was a milestone year in inheritance Tax (IHT) planning for married couples with the introduction of the ‘transferable nil rate band’. Not only did that sound the death knell (almost) for the nil-rate-band-discretionary-will-trust but the traditional use of a deed of variation did an about face.
Over the years, I’ve encountered many couples in a relationship spanning 20 years or more, often with children together, who have never married nor have any intention of doing so. When challenged as to reasons for not marrying, there’s rarely expressed any aversion to marriage in principle. It’s just, “We’re happy as we are; we don’t need a piece of paper to prove the strength of our relationship”.
The New Year is the perfect time to make a Will. People in their 20s often think they do not need a Will, particularly if they are single and do not consider themselves to be particularly ‘well off’. Preparing a Will is not something you should delay. Here are 10 good reasons why you should make a Will now, regardless of your age.
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