News & Views

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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Supreme Court ruling – Ilott v The Blue Cross & Others explained

In July 2015 we reported that the Court of Appeal had increased the amount awarded from the estate of a deceased mother in favour of her disinherited estranged daughter. The Supreme Court has now reversed that decision, reverting to the original County Court award. Mrs Ilott was originally successfully awarded £50,000 in the County Court …

Supreme Court ruling – Ilott v The Blue Cross & Others explained

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Lasting Powers of Attorney (LPAs) for business interests

A business owner may have had the foresight to purchase Key Person Insurance, but this will not assist with the practicalities of running the business if that key person is ill or injured and unable to work or take decisions. For that reason, LPAs are frequently being used by prudent business owners to protect their …

Lasting Powers of Attorney (LPAs) for business interests

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Sherrards’ Private Client department awarded Tier 1 Ranking in Legal 500

Industry-recognised Legal 500 has ranked Sherrards Solicitors’ Private Client department in Tier 1 for the South East in their latest guide, referring to the department as a ‘first-rate’ team. Led by Nicole Marmor, Head of Private Client, the department is ranked for their work across personal tax, trusts and probate services, particularly recognised for having a strong following among non-domiciled …

Sherrards’ Private Client department awarded Tier 1 Ranking in Legal 500

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Why don’t people trust Trusts?

Following the 6th Duke of Westminster’s death last month, there was a media outcry about the lack of inheritance tax (IHT) his estate will be paying. Without the use of trusts, exemptions and reliefs his £8.3 billion estate would have been subject to a £3 billion inheritance tax (IHT) bill. The exact details are yet …

Why don’t people trust Trusts?

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