A Summary: Inheritance and Trustees’ Powers Bill

Following consultation in 2009 and 2011, the Law Commission published a report entitled “Inheritance and Family Provision Claims on Death” in December 2011. This set out recommendations for reform of the law and included the draft Inheritance and Trustees’ Powers Bill. The proposals contained in the Bill will be of significance for all residuary beneficiaries…

ATED Filing Deadline

The first filing date for properties within the charge at 1 April 2013 is 1 October 2013 and payment must be made by 31 October 2013. A snappy précis on Annual tax on enveloped dwellings (ATED) prepared by Farrer & Co.

Inheritance and Trustees’ Powers Bill

The Inheritance and Trustees’ Powers Bill due to receive it’s second reading in the House of Lords on 22nd October 2013. The Bill follows a Law Commission consultation and report and amends various provisions of the law about the distribution of estates of deceased persons and the law relating to the powers of trustees. The…

‘Squaring the Triangle’: Simplifying IHT charges on relevant property trusts

HMRC’s consultation on reforming the periodic and exit charges on relevant property trusts, ended in mid-August. The reaction among professionals appears to have been somewhat chilly. HMRC’s stated aim is to triangulate a solution that simplifies the compliance burden while being revenue neutral on the Exchequer and that complies with the overarching policy of ‘fairness’;…

My first post

Welcome to my new blog. I’ve never blogged before, partly owing to ignorance as to how to go about it and partly to doubts as to whether anyone would read it. Ignorance remedied and doubts notwithstanding, I’m taking the plunge. The focus of this blog will be topics that (eventually) affect us all – growing…

Wisdom…

Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes. — Benjamin Franklin, in a letter to Jean-Baptiste Leroy, 1789