£400 Million Increase in Inheritance Tax Payments
As per HM Revenue & Customs, the total Inheritance Tax (IHT) receipts from April 2023 to September 2023 amounted to £3.9 billion, marking a £400 million increase compared to the corresponding period in the prior year. June 2023 recorded the highest-ever IHT...
Addressing Recent Headlines on Inheritance Tax Changes
In light of the uncertainty surrounding the future of Inheritance Tax, it is essential to familiarise yourself with the existing tax regulations when engaging in estate planning. Under the current system, Inheritance Tax may be applicable on four occasions: Upon an...
What happens when someone dies without a Will?
From 26 July 2023, the Government has increased that Statutory legacy amount to £322,000 which has been prompted by inflation.
What is a Court of Protection appointed Deputy?
If a person lacks mental capacity to make decisions for themselves and they do not have a Lasting Power of Attorney in place, an application can be made to the Court of Protection for a Deputy to be appointed, so that there is someone with legal authority to take...