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inheritance tax

May 26, 2020

Family offices increasingly have to navigate the complexities of cross-border legal issues: a necessary side-effect of globalisation. The family office will consequently need advisers on issues such as tax, estate planning and regulation that covers all countries in the mix, and advice on succession planning is increasingly featuring high up on the family office to-do list.

Family offices increasingly have to navigate the complexities of cross-border legal issues: a necessary side-effect of globalisation. The family office will consequently need advisers on issues such as tax, estate planning and regulation that covers all countries in the mix, and advice on succession planning is increasingly featuring high up on the family office to-do list.

April 24, 2020

With the spread of Covid-19 bringing the UK housing market to a standstill and shaking financial markets across the world, families who have lost loved ones leading up to the outbreak of the pandemic, could be seeing some of their assets plummet in value. If inheritance tax has already been paid on those assets on the basis of their higher values in the pre-Covid world, an inheritance tax rebate could be due.

With the spread of Covid-19 bringing the UK housing market to a standstill and shaking financial markets across the world, families who have lost loved ones leading up to the outbreak of the pandemic, could be seeing some of their assets plummet in value. If inheritance tax has already been paid on those assets on the basis of their higher values in the pre-Covid world, an inheritance tax rebate could be due.

Shareholdings

March 10, 2020

In late February, news broke that HM Revenue and Customs (HMRC) has set up a new team to investigate the use of Family Investment Companies (FICS) with a focus on Inheritance Tax (IHT).

In late February, news broke that HM Revenue and Customs (HMRC) has set up a new team to investigate the use of Family Investment Companies (FICS) with a focus on Inheritance Tax (IHT).

March 2, 2020

Families are being advised to get their financial affairs in order and brace for an increase in tax bills following the revelation the UK’s tax authority set up a secret unit to probe family investment companies, specifically their use by the wealthy to avoid inheritance tax.

Families are being advised to get their financial affairs in order and brace for an increase in tax bills following the revelation the UK’s tax authority set up a secret unit to probe family investment companies, specifically their use by the wealthy to avoid inheritance tax.

June 7, 2019

Sustainability, growth and jobs are at stake when the issue of UK family businesses and inheritance tax flares up, say sector experts.

Sustainability, growth and jobs are at stake when the issue of UK family businesses and inheritance tax flares up, say sector experts.

Tax Justice UK’s new research released this week said the British government was handing out up to £666 million ($849 million) a year in inheritance tax reliefs on land and business property to families who were already well off.

May 4, 2017

A survey by insurer Royal London says £400 billion ($515 billion) in private hands is waiting to be passed on and the research also discovered those holding that wealth have different views to those who are (or are not) expecting to receive it, says Jeremy Curtis, partner in the Private Wealth team at Pemberton Greenish.

A survey by insurer Royal London says £400 billion ($515 billion) in private hands is waiting to be passed on and the research also discovered those holding that wealth have different views to those who are (or are not) expecting to receive it, says Jeremy Curtis, partner in the Private Wealth team at Pemberton Greenish.

Generation skipping­–something for a long time heavily taxed in the US–is now in vogue.

March 14, 2017

Most people, when they think about trusts, immediately associate them with tax planning. Although controlling exposure to tax may be one reason why people use trusts, they have many other uses, as Robert Brodrick, trusted adviser and partner at Payne Hicks Beach, explains.

Most people, when they think about trusts, immediately associate them with tax planning. Although controlling exposure to tax may be one reason why people use trusts, they have many other uses, as Robert Brodrick, trusted adviser and partner at Payne Hicks Beach, explains.

February 20, 2017

British family business leaders are being encouraged by a UK private client law firm to consider the benefits of business property relief in succession planning and as the Inheritance Tax net widens.

British family business leaders are being encouraged by a UK private client law firm to consider the benefits of business property relief in succession planning and as the Inheritance Tax net widens.

Wilsons, based in London and Salisbury, warned the number of UK estates liable for Inheritance Tax was forecast to rise by 15% to 30,000 in the tax year ending 5 April, 2017, up from 26,000 estates in 2015/16.

November 11, 2016

US family business leaders are searching for silver linings from the presidential election of Donald Trump, just as their British counterparts are doing with Brexit.

US family business leaders are searching for silver linings from the presidential election of Donald Trump, just as their British counterparts are doing with Brexit.

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