News & Views

Equity Release – a good idea or not?

Equity release, where a person aged 55 or over is able to release cash from their home and continue living there, seems to be very much back in favour.  The money may be taken as a lump sum or in several smaller amounts or both.  In simple terms, the home owner retains ownership of their …

Equity Release – a good idea or not?

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Cohabiting siblings could win same treatment as married couples

This month Prime Minister Theresa May announced that heterosexual couples will be able to enter into civil partnerships, giving them substantial tax benefits. It could open the way for cohabiting siblings to also receive the same treatment, pending a proposed change in the law. Ms May’s announcement follows a Supreme Court ruling in June this …

Cohabiting siblings could win same treatment as married couples

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Co-habitation- it can make you poorer

Beyond the stark warnings of the recent BBC article  highlighting the challenges faced by unmarried couples in life, they are also at a serious tax disadvantage post death both in terms of how the estate is shared if their partner dies without leaving a Will (they have no automatic claim on assets solely owned by …

Co-habitation- it can make you poorer

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Alliot Group German Circle

Nicole Marmor and Geraldine Fabre part of the firm’s international team recently attended the annual German Circle meeting in Zurich of the Alliott Group of which Sherrards are one of the UK members. This year’s meeting focused on company guarantees and securities but also on the EU Data Protection Regulation which will become law on …

Alliot Group German Circle

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Inheritance tax and the Residence Nil-Rate Band (RNRB)

As we reported in 2015, a new RNRB is being introduced from 6 April 2017. The previous blog goes into detail about how the RNRB will apply to estates, this post will focus on recent developments. The “Residence” The property doesn’t actually have to be the deceased’s main residence or owned for a minimum period. …

Inheritance tax and the Residence Nil-Rate Band (RNRB)

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Permanent Non-Dom Tax Status Abolished – New Deemed Domicile Rules

The dictionary definition of domicile is a place of residence. Legally, broadly speaking, it is an individual’s permanent home. The concept has applications in all areas of law, such as marriage, wills and succession. It is also widely used to determine an individual’s liability to various taxes in the UK. Domicile can be determined in …

Permanent Non-Dom Tax Status Abolished – New Deemed Domicile Rules

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Estate Planning

Nicole Marmor and her team were recently involved in a complex domicile matter where the husband was born in South America, lived for some time in the US and then moved to the UK. He subsequently moved back to the US and until recently had both UK and US citizenship although the US citizenship has …

Estate Planning

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Estate Planning

The private wealth team, led by Nicole Marmor, worked closely with our corporate team, particularly Keith Robinson and Hayley West in a recent case involving trusts. In this case, the deceased had died in the middle of a commercial transaction to sell his shareholding in several private companies (owned themselves by a parent company). The …

Estate Planning

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Private Wealth

Sherrards’ private wealth team recently worked with a high net-worth individual on a declaration of trust made by a company based in the British Virgin Islands, with beneficiaries in Kenya and properties in the UK. In this case, the team were asked to add a beneficiary to the trust and then terminate it. It was a …

Private Wealth

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