Article Category: Wills & Wealth Planning

Top Tips to Maximise the Reliefs from Inheritance Tax

reliefs from inheritance tax

If you own a business or have farmland which may qualify for reliefs from inheritance tax, it is a good idea to have a Will in place in order to maximise this generous tax saving. HMRC have specific rules about apportioning the relief between chargeable and exempt beneficiaries; so without a Will, or if you… Read more »

Inheritance Tax Threshold Increases to £1 million

In April 2017, the Government introduced the Residence Nil Rate Band (RNRB) which provides an additional allowance for married couples where the surviving spouse leaves their property to direct descendants (i.e. children, grandchildren, step-children). The intention was to reduce the burden of inheritance tax for families and make it easier to pass property down to… Read more »

5 Reasons to Make a Will

Making a Will can be one of those things that you easily put off, however, it’s a really important document to ensure that your estate is dealt with as you would wish and your loved ones are protected after you die. Below are five reasons why a Will should be made or reviewed: 1. Division… Read more »

If I Do Not Make a Will, Does My Partner Inherit My Estate?

It is a common misconception that if you are an unmarried couple, then your partner will automatically inherit your estate when you die. If you do not leave a Will, the Government’s intestacy rules apply and your partner is not entitled to anything under these rules. What are the estate inheritance rights for unmarried couples… Read more »

MPs Propose Overhaul on Inheritance Tax

A group of MPs have called on the government to re-think Inheritance Tax (IHT) by removing almost all reliefs available, including the residence nil rate band (RNRB) which was introduced in April 2017. On 28th January 2020, the All Party Parliamentary Group (APPG) on Inheritance Tax and Intergenerational Fairness urged the government to consider an… Read more »

How to look after your pet in your Will

The great British public, long heralded as a nation of animal lovers, will frequently pamper their pooches and care for their cats in a variety of ways that may seem extravagant to some. With 49% of UK adults owning a pet and so many pets being a much-adored member of the family, it makes practical… Read more »

That’s a relief! Tax relief on your business upon death

When someone is setting up a new business, it’s an exciting venture with the prospects of making money and providing for your family. Recently, there have been lots of tax provisions to help out businesses but one that has been around for some time and gets forgotten about is Business Property Relief (BPR). If your… Read more »

SAS Daniels LLP raises the bar in legal rankings

North West law firm, SAS Daniels LLP, has achieved its best ever rankings in national legal guides, Chambers UK and The Legal 500. Rankings in Chambers UK and The Legal 500 are key to the firm’s credentials, recognising the firm’s specialist teams, based solely on merit, and reinforcing its proposition as ‘No ordinary law firm’…. Read more »

Intestacy rule changes do not rule out the need for a will.

Where someone dies without disposing of all their estate by a valid will, the intestacy rules dictate who inherits. These intestacy rules have changed. From Wednesday, 1 October 2014 the Inheritance and Trustees’ Powers Act 2014 came into force. Prior to 1 October 2014, if someone died without a will and was survived by a spouse… Read more »