Blog Archives

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

Posted on June 15, 2021 by Alice Heathfield

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

Posted on May 28, 2021 by Alice Heathfield

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

Posted on May 4, 2021 by Alice Heathfield

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

Posted on March 24, 2021 by Alice Heathfield

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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Looking at the Budget 2021 from a Private client perspective

Posted on March 3, 2021 by Alice Heathfield

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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Shake up of CGT?

Posted on February 12, 2021 by Alice Heathfield

The Covid pandemic has dealt a serious blow to the state of the nation’s finances. Predicting what the pandemic holds in store has proven a real problem for commentators and the Government alike, but it seems certain that eventually the …

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Lasting powers of attorney

Posted on December 8, 2020 by Christopher Wilsher

A guide on making an LPA covering everything you need to know when considering giving another person certain authority to make decisions, in circumstances where you no longer have the mental capacity to do so on your own.

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