Gifts and Tax Planning

The economic downturn caused by the pandemic has certain advantages that you may wish to consider now. Are you thinking about assisting a family member who has lost their job and is currently experiencing financial difficulty? Gifting money to family members would not give rise to Capital Gains Tax (‘CGT’), but it may assist your Inheritance Tax (‘IHT’) position. Each of us is given a threshold of £325,000 (known as the nil rate band) whereby our estate has no IHT liability. Any gifts…

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Why You Should Make A Will In A Pandemic!

If  you don’t have a Will, this is the right time to make one. The current crisis is the perfect time to consider what will happen to your estate on your death. Quite often, making a Will finds itself at the bottom of the to-do list.      There are a number of reasons why you may be reluctant to make a Will. Some people tend to think that it is a complicated task, or they simply do not want…

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Why Make A Professionally Drafted Will?

A Will is one of the most important documents that you will make in your life. The risk of having a Will that includes unclear terms, unnecessary errors or one that does not comply with formal statutory requirements, or one that fails to dispose of all the Testator’s assets could be quite detrimental for the family. A Will should not only take into account your current financial or family circumstances but should account for changes that may arise in the future…

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