Blog Archives

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 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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US/UK giving

Considering the UK tax rules on lifetime gifts can be complex, but having to marry these with the corresponding US rules if the donor and/or recipient are also US taxpayers can make the task yet more difficult. A donor can …

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Gifts and Lasting Powers of Attorney (“LPAs”)

Making gifts as an attorney acting under a registered LPA for property and financial affairs is fraught with difficulties and is an area which could give rise to criticism of the attorney and potentially an investigation by the Office of …

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How women can prepare for their greater exposure to IHT

Given that women on average live longer than men, it is more likely that women will inherit significant wealth from their spouses and other family members than their male counterparts. As a result, a recent study states that women have …

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Lifetime Giving | Trusts and School Fees

Many families contend with paying school fees running into hundreds of thousands of pounds per child over the course of their education. This guide examines some tax efficient arrangements that other family members (typically grandparents) can use to contribute to …

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Normal expenditure out of income

Gifts Out of Expenditure Although lifetime giving can be tax-efficient, inheritance tax will arise immediately if the donor makes outright gifts or transfers into trust in excess of their nil rate band (currently £325,000), and will also arise if the …

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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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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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