Historically, wealthy clients have used trusts to protect family money from taxation and extravagance. Following a series of recent high profile divorce cases, clients are becoming equally anxious to protect their assets from financial claims made by a husband or…
…
…
On 17 June 2011, HM Treasury and HMRC published a consultation document with details of the government’s proposals to: Increase the annual remittance basis charge for non-doms who have been resident in the UK for at least 12 years; Allow non-doms to…
Consultation On 17 June 2011, HM Treasury and HMRC published a consultation document on a statutory definition of tax residence (statutory residence test) and reforms to the concept of ordinary residence. The consultation seeks responses from interested parties on the design and…
H.M. Revenue & Customs (HMRC) recently launched a new initiative to encourage those who have not been paying the correct amount of tax, or who have started working for themselves but have not told the tax authorities of all the…
The main budget highlights for 2011 are as follows: Personal Income Tax There are no personal tax increases. The top rate of tax is to remain at 50% for the time being. From 6 April 2011, it is proposed to increase the…
Making a Will a Matter of Choice If you die without having made a Will statutory rules, rather than you, will determine who inherits your estate. There is a general misconception that, in the absence of a Will, a surviving…
A Lasting Power of Attorney is a document which allows you to appoint a person or persons as your Attorney(s) to act on your behalf in the event that you lose mental capacity and you are unable to make your…
A Spousal Bypass Trust is a trust established during your lifetime to be the recipient of any death benefits payable under your pension policies in the event of your death before retirement. Whilst these payments are free of Inheritance Tax…
