In 2020 the court rules were changed to require that all residential tenants must be given 14 days’ notice of an eviction. What happens though if the eviction is cancelled on the day?
Last year the Government received £3.4 billion from inheritance tax receipts and this figure is expected to rise year on year. This is in part due to the fact that the inheritance tax threshold has remained unchanged since 2009. For many people who have invested in their property, the double-edged sword of increasing house prices means that their estates are now likely to attract inheritance tax when they die. As part of the run up to the general election, there have already been suggestions of increasing the threshold; however, there is no guarantee that the tax free allowance will rise for some time yet.
Currently, each person can pass on a maximum of £325,000 from their estate tax free. Lifetime gifts may form part of this. Where an individual leaves their estate to their spouse or civil partner, the tax free limit which can be passed on from the joint estate doubles to £650,000. Various reliefs are available for business assets and gifts to charities for example, but in most cases, the chargeable estate above the inheritance tax threshold incurs a tax bill liability of 40%; unless at least 10% of the estate is being left to a registered charity.
Whilst it can be daunting to think about what happens on death and what those left behind have to sort out, it can be a comfort to ensure that they will not be faced with an unexpected inheritance tax bill. Efficient use of exemptions and reliefs during your lifetime can have a significant impact.
For more information
If you are considering drawing up a will, we can assist you to maximise the potential of your bequests and to protect your estate with confidence. Please contact our Personal Planning and Management Team on 0121 212 7404 for more information.
We are delighted to announce that our private wealth law department has continued to maintain its Band 2 position in the latest edition of Chambers and Partners High Net Worth.
The new CHF is set to launch and open for applications with £4 million set to be allocated to community-led housing groups to support an increase the supply of affordable housing in England.
Charities, like other organisations, may be subject to or choose to voluntarily comply with the reporting requirements under the Modern Slavery Act 2015.
The draft regulations making it mandatory for anyone entering a registered care home in England to have been double vaccinated unless they are clinically exempt were made on 22 July 2021.
In the Transforming Public Procurement Green Paper, the Government signalled its desire to increase its control over procurements by all contracting authorities.
The monthly round-up from the Anthony Collins Solicitors charities team.
Legal updates as the UK enters into stage 4 of the roadmap and legal restrictions on face coverings and social distancing are lifted.
The first disability we are going to discuss is diabetes. We begin by discussing the different types of diabetes; their similarities and differences and how we live with the disability within our day.
Tim Coolican and Freya Cassia explore the legal and practical options available to providers if a disappointing result is received following an inspection.
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