Blog Archives

The perils of making a fortune at a tender age

Young sports stars and celebrities face big challenges managing life changing pots of money. “Present earnings may be high and may increase, but future earnings for sportspeople and entertainers are inherently uncertain- they should hope for the best but plan …

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Lifetime Giving: Gifting in the Arts (CGS v AIL)

The Arts Council England saw a record-breaking year in 2020 with the value of cultural objects and art entering public ownership equating to an impressive £64.5 million with £40 million of tax liabilities being settled in return. Philanthropic giving of …

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Lifetime Giving: How can I help my children buy a house?

The Bank of Mum and Dad supported more than half of first-time buyers under the age of 35 in 2020 and is the sixth largest lender in the UK. The average amount provided by the Bank of Mum and Dad …

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Lifetime giving: How should I approach charitable giving?

Charitable giving should always be encouraged. However, there are various ways to give to charity, and which is most appropriate will vary depending on the circumstances. Simple donations For small cash donations, particularly those to existing UK registered charities, simplicity …

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How Stephen Hawking’s estate used his papers and office contents to settle millions in tax

The media spotlight has focused on the estate of the late Professor Stephen Hawking recently due to a significant tax saving arrangement. An agreement was reached with the Cambridge University Library and the Science Museum Group for Hawking’s archives and …

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Professor Stephen Hawking’s estate: Acceptance in Lieu in action

The estate of the late Professor Stephen Hawking has reached an agreement with the University Library in Cambridge and the Science Museum Group for Hawking’s archives and the contents of his office  (including not only scientific papers but letters from …

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UK – Tackling Tax Avoidance

The U.K. government released its first “Tax Day” consultations on March 23, 2021, following the March 3 budget, on future measures not included in this year’s Finance Bill. The government sensibly refrained from announcing wide-ranging and untimely changes to inheritance …

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‘Tax Day’ – government continues its campaign to tackle non-compliance

Promoters of tax avoidance schemes HM Treasury’s reminder that the so-called “tax gap” is at a record low of 4.7% (of which tax avoidance only counts for £1.7bn – approximately 5.5% of the total) is timely and welcome.  HMRC has …

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Coronavirus: tax and estate planning tips

Important tax and estate planning tips individuals should be thinking about during and in the aftermath of the coronavirus pandemic.

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Looking at the Budget 2021 from a Private client perspective

PROPERTY SDLT Holiday Extension Having heard the representations from housebuilders and buyers, the Chancellor announced that the current SDLT threshold of £500,000 will be extended until 30 June 2021. After that date, there will be a gradual tapering of the …

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