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Tax exempt gifts at Christmas

Christmas is a time when friends and family come together and often swap presents between loved ones. Many people this year are still feeling the financial repercussions of COVID-19 and are deciding to gift away cash gifts, rather than physical presents...

Seeing my child at Christmas

Turkey – check! Mince pies – check! Crackers – check! Presents – check! Contact arrangements…? From the moment the street lights start switching on at 4pm and tins of chocolates are on offer, for most of us, Christmas...

Gifting land, is it that easy?

So, you’re fortunate enough to own some land, and you wish to gift parts to your children. Maybe you’ve been sitting on a piece of land for some years, and are now looking to transfer into your company name, for redevelopment.  Or, you find...

Pets and divorce: should you make a PetNup?

I had never really considered myself a dog person having been brought up with a series of cats during my childhood and continuing my feline ownership into adulthood. However, just over 6 years ago, I discovered just how fabulous dogs were when we got our...

Good news for those left out of will!

If you were financially dependent on someone who has died or are their spouse, former spouse, their child or were treated as a child of their marriage, you might have a claim under The Inheritance (Family and Dependants) Act 1975.  What is The 1975...

The bank of mum and dad: The tax implications

First-time house buyers are reported to be increasingly turning to the bank of mum and dad to help them supplement their house deposits. If you are a parent considering giving your children money for their house deposit, below are a few things that you...

What you need to know about Lasting Power of Attorneys

Lasting Power of Attorneys (LPAs) allow you to appoint people who you would wish to be able to deal with your affairs should you be unable, either due to physical restrictions or a lack of mental capacity. Attorneys cannot act until LPAs have been...

What is business property relief?

Currently, Inheritance Tax is paid at 40% on a deceased’s estate which exceeds the Tax allowances. Or if you leave 10% of your estate to charity, then Inheritance Tax will be paid at 36%. There are various Tax allowances which can be claimed such...

Demergers - an option to pass your business to your children

As a business owner, it can often be difficult to decide how best to hand over the running of the company to future generations.  Not only is timing critical, the perception amongst suppliers, customers and employees, has to be taken into account....

Managing conflict in family businesses

Directors are concerned with the running of a business day to day. Shareholders are owners of a business who make important decisions in relation to the company. How those decisions are made can all be outlined within a confidential document called a...
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