Your Children’s Future
We all want the best for our children; health, happiness, a good education and financial security. But what other steps should you be taking now to protect their future, particularly when you are no longer around to do so?
We all want the best for our children; health, happiness, a good education and financial security. But what other steps should you be taking now to protect their future, particularly when you are no longer around to do so?
The new and welcomed ‘no-fault divorce’ legislation for obtaining a divorce or dissolution of a civil partnership in England and Wales comes into effect today.
Do remember that from 6 April 2022, various limits that apply in employment law change.
One of the many challenges of the COVID pandemic is the strain placed on marriages and relationships as a result of homeworking, restrictions on external stimulus, health concerns, financial uncertainty and, as a result, friction that can tip over quickly under the strain.
The COVID-19 pandemic has led to dramatic changes to how employers and employees work, with an overnight switch from traditional office-based working to predominantly home-based working. In light of this, the Department for Business, Energy and Industrial Strategy has sought to keep pace by launching a consultation process aimed at making flexible working the norm for employees.
For many people, owning a holiday home is a major aspiration. Having a place to enjoy for leisure and recreation purposes has definite appeal, and demand for UK holiday homes has significantly increased over the last 18 months, in light of the COVID-19 pandemic. However, owning one may have Inheritance Tax (IHT) and Capital Gains Tax (CGT) implications which should be considered.
On 10 November 2021, the Supreme Court unanimously agreed to overturn the ruling of the Court of Appeal in Lloyd v Google LLC [2021] UKSC 50, consequently rejecting Mr Lloyd’s claim against Google in connection with an alleged breach of their duties as a data controller under section 4(4) of the Data Protection Act 1998.
If a dog is a man’s best friend then making sure that they (or any other pet) are provided for if something happens to you will be a priority for all animal lovers.
Leaving money to a charity in a Will is a great way to leave a lasting legacy for a cause particularly close to your heart, and reduce the Inheritance Tax your estate will be subject to on your death at the same time.
You may have considered putting in place a Lasting Power of Attorney (‘LPA’) which relates to your personal financial and property affairs, but have you considered how this might work in relation to your business?
When people are faced with the prospect of separation and divorce, the best thing they can do is to seek early advice.
In the sale of any business, the first step should be to seek professional advice.
Our featured media coverage:
Featured in Money Week, IFA Magazine and City AM, Duncan Mitchell-Innes highlights dramatic increase in “gifts out of surplus income”.
Featured in MoneyWeek, Gillian Dunlea highlights that while lifetime gifting can reduce inheritance tax, HMRC may still treat assets as part of the estate if the gift isn’t deemed genuine.
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