Blog Archives

Gifts to Disabled and Vulnerable People

Posted on January 24, 2022 by Molly Jones

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)?

Posted on November 19, 2021 by Molly Jones

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

Posted on November 10, 2021 by Molly Jones

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”)

Posted on November 8, 2021 by Molly Jones

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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Lifetime Giving | Trusts and School Fees

Posted on November 1, 2021 by Molly Jones

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

Posted on October 26, 2021 by Molly Jones

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

Posted on October 18, 2021 by Molly Jones

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)

Posted on October 11, 2021 by Molly Jones

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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How can I help my children buy a house?

Posted on October 11, 2021 by Molly Jones

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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How should I approach charitable giving?

Posted on October 4, 2021 by Molly Jones

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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