Art and heritage property, landed estates and farming families

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Art law Heritage property Landed estates and farming families

Latest Private Client News

Finance Bill 2025 update: Public Bill Committee to begin in January

Private Client weekly highlights—19 December 2024

The following Private Client news provides comprehensive and up to date legal information on Private Client weekly highlights—19 December 2024

Question of the week: Does the inheritance tax exemption for transfers between spouses apply where both spouses are non-UK domiciled and make a transfer of UK situs assets between them?

Supreme Court unanimously allows appeal (Hirachand v Hirachand and another)

The following Dispute Resolution news provides comprehensive and up to date legal information on Supreme Court unanimously allows appeal (Hirachand v Hirachand and another)

Featured Private Client content

Can a power of attorney lapse or expire or does it last indefinitely? Does it need to be updated or 'refreshed'?

Can a power of attorney lapse or expire or does it last indefinitely? Does it need to be updated or 'refreshed'?Lasting powers of attorneyIn contrast...

Death in service benefits

Death in service benefitsOverview of the types of death in service benefits and their tax treatmentThere are three types of death in service...

Nature and classification of trusts—the three certainties

Nature and classification of trusts—the three certaintiesCertaintyIn order for a settlor to create a private express trust the three certainties must...

Lifetime gifts

Lifetime giftsA lifetime gift is a gratuitous transfer of ownership of any property between living persons and not made in expectation of death. In...

Practice notes

Exemptions and reliefs from income tax

Exemptions and reliefs from income taxFor income tax rates and allowances applicable in the current tax year, see Practice Note: Key UK tax rates,...

1st Mar

Practice notes

Payment of legacies

Payment of legaciesIdentification of beneficial interestsThe personal representatives (PRs) of an estate must identify:•the beneficiary or...

2nd Mar

Practice notes

Liferent trusts—Scotland

Liferent trusts—ScotlandLiferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both,...

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2nd Mar

Scottish Law

Practice notes

Notaries and notarisation—notarisation

Notaries and notarisation—notarisationThe principles of the notarial act are that it is:•an act of the notary and not of the parties named in the...

2nd Mar

Practice notes

Trustees—self-dealing, unauthorised profits and conflicts of interest

Trustees—self-dealing, unauthorised profits and conflicts of interestThe self-dealing ruleThe self-dealing rule is connected to, but distinct from,...

1st Mar

Practice notes

Benevolent funds

Benevolent fundsFORTHCOMING CHANGE: The Charities Act 2022 (CA 2022) received Royal Assent on 24 February 2022 and will be implemented on a staggered...

1st Mar

Practice notes

Creation of trusts—life insurance trusts

Creation of trusts—life insurance trustsDefining life insurance trustsA life insurance trust usually involves either:•an assignment of an insurance...

2nd Mar

Practice notes

CGT—PPR relief for UK residents with overseas dwellings and non-UK residents with UK dwellings

CGT—PPR relief for UK residents with overseas dwellings and non-UK residents with UK dwellingsPrincipal private residence relief (PPR relief) exempts...

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2nd Mar

Q&As

When can a mistake in an executed deed be rectified by a manuscript amendment rather than by a deed of rectification?

When can a mistake in an executed deed be rectified by a manuscript amendment rather than by a deed of rectification?This Q&A explains when it is...

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1st Mar

Practice notes

Calculating the IHT charge on death

Calculating the IHT charge on deathThis Practice Note outlines how to calculate the amount of inheritance tax (IHT) that arises on an individual’s...

2nd Mar

Practice notes

Protectors

ProtectorsWhat is a protector?A protector is a person who holds powers under a trust but who is not a trustee. A protector is a person who is...

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2nd Mar

Q&As

A trust holds the beneficial ownership of shares in a company of which one trustee is a director. Of the three beneficiaries, two are adults and there is a declaration of trust in respect of the shares held for them. The other is a minor and there is a separate declaration of trust for him. What would or should happen to the company shares on the death of a beneficiary? Neither declaration of trust deals with this issue.

A trust holds the beneficial ownership of shares in a company of which one trustee is a director. Of the three beneficiaries, two are adults and there...

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2nd Mar

Practice notes

The Cy-près doctrine

The Cy-près doctrineFORTHCOMING CHANGE: The Charities Act 2022 (CA 2022) received Royal Assent on 24 February 2022 and will be implemented on a...

2nd Mar

Practice notes

Perpetuities and accumulations

Perpetuities and accumulationsThe rules relating to perpetuities and accumulations stem from the common law and the provisions in the Perpetuities and...

1st Mar

News

Changes to the excepted estate rules for IHT and procedure from January 2022

Private Client analysis: The new process for reporting the gross and net value of an estate, for inheritance tax (IHT) purposes, is effective for...

2nd Mar

Q&As

A grant of probate has been issued with powers reserved to an appointed executor under a Will. How can the executor obtain full powers?

A grant of probate has been issued with powers reserved to an appointed executor under a Will. How can the executor obtain full powers?Reservation of...

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1st Mar

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