Blog Archives

Spring Budget Statement 2022

“To my mind, the potentially more important announcement was that of the so-called “Tax Plan*”: tax professionals have been asking the Treasury for this for years. Unfortunately, rather in common with the precipitate “income tax cut” announcement, the Tax Plan …

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Lifetime Giving Handbook

We have prepared a handbook to answer the most pressing and common lifetime giving questions and issues including; giving property to the next generation, gifts to vulnerable individuals, how best to fulfil an individual’s philanthropic ambitions, foreign gifts and the …

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Gifts to Disabled and Vulnerable People

When making a gift to a disabled or vulnerable person, it is not only important to consider the donor’s position but also that of the recipient of the gift. For example, an ill-considered outright gift to a disabled or vulnerable …

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Can I gift my holiday home or rental property to my children

The principal tax to consider when making gifts is inheritance tax (IHT). The gift of a property will be a ‘potentially exempt transfer’. If you survive the gift for seven years, you will escape paying IHT on it, but if …

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What gifting options do non-domiciliaries have?

What is a non-dom? A non-dom is someone who is neither domiciled nor deemed-domiciled in the UK. Broadly, a person’s domicile is the place they consider to be their permanent home. Your domicile of origin is your father’s domicile when …

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Gifts with international elements

When considering making lifetime gifts, international elements can complicate matters. The international dimension may arise because you have assets in foreign jurisdictions or because you are resident or otherwise subject to tax in another country.  In such circumstances, it is crucial …

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What are the tax implications of being the Bank of Mum and Dad?

My husband has recently retired and we are ready to plan the next stage of our lives. Our first decision is to sell our historic but rambling country home and downsize to something more manageable. Once we have bought a …

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US tax changes could be imminent

The US House Committee on Ways and Means has proposed a raft of US tax changes intended to help fund the new administration’s grand infrastructure programme. Contained within the proposals are significant changes to some key estate planning tools that …

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The Giving Pledge

Founded in 2010 by a group of ultra-wealthy individuals (including Bill and Melinda Gates and Warren Buffet), the Giving Pledge invites other wealthy people to publicly commit to giving away the majority of their wealth to philanthropy. Initially a purely …

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Can I give my home to my children (and still live in it)?

For many people, their home is one of their most valuable assets, if not the most valuable. It is therefore an obvious candidate for lifetime estate planning. The question therefore often comes us as to whether it is possible for …

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