Back to Basics
Back to basics 30: Tax reliefs
Sima Pankhania and Richard Mannion consider the various tax and investment reliefs available to private clients in managing their personal tax liabilities. In particular, the taxes covered here are income tax, capital gains tax (CGT) and inheritance tax (IHT).
Features
New year, old values
In an increasingly commercialised world, the traditional values of professionalism seem less and less appreciated. Which makes them all the more important for solicitors in a liberalised market, says Simon Leney, Private Client Section chair
Influencing factors
Rosanna Foskett examines the recent judgment in Hart and Samways v Burbidge, which illustrates how the courts will apply the principle of presumed undue influence, even where such influence was not intentional
Asking the question
By making clients aware of the option of leaving a small charitable gift from their estate once friends and family have been looked after, solicitors can make a huge difference to many good causes, writes Rob Cope
Fertility tests
Patricia Wass looks at how the Court of Protection cases approaches sterilisation and abortion
Statement of intent
The 2013 autumn statement was quickly followed by the draft 2014 Finance Bill, containing 673 pages of tax changes. David Bennett summarises those most relevant to you and your clients
Irish origin
For solicitors acting on a UK-based estate which includes Irish assets, Maria Lakes explains what is needed to complete the detailed and sometimes lengthy process of obtaining an Irish grant to deal with these assets
Standard questions
Bryn Hughes explains how setting a quality standard can help consumers – who already rate specialism and experience over cost when purchasing legal services – to make a more informed choice of provider
A farewell cure
A recent case has shed light on the law relating to gifts of land made in contemplation of death, under the principle of donatio mortis causa. Clara Staunton examines the issues
Staking a claim
With claims under the Inheritance (Provision for Family and Dependants) Act 1975 currently on the rise, Philip Jenkins examines some issues of practice and procedure, and looks at how the Inheritance and Trustees’ Powers Bill will potentially remove some obstacles to bringing claims
French resistance
A change in the law presents a potential issue for English clients relying on a popular French savings product to avoid forced heirship rules, warns David Anderson
A developing trend
As farmers are increasingly looking to sell development land, solicitors seeking the most tax-efficient way of structuring the transfer must examine a number of complex factors. Julie Butler outlines the key issues