http://www.wilson-nesbitt.com/articles/ Wilson Nesbitt Solicitors - Inheritance Tax News RSS feed en-gb email@wilson-nesbitt.co.uk info@flamegreen.com 30 http://www.wilson-nesbitt.com/articles/856/14072008/new_inheritance_tax_bill_to_be_introduced.html Lord Lester of Herne Hill is to introduce an inheritance tax bill intended to protect the rights of those who live together but who are not married or in civil partnerships.The politician has announced that the private bill will be brought before parliament in the autumn.He has been involved in... Mon, 14 Jul 2008 13:51:00 BST http://www.wilson-nesbitt.com/articles/852/09072008/labour_mp_blames_lack_of_support_for_failure_of_inheritance_tax_amendment.html A Labour MP's proposal that siblings should be entitled to the same inheritance tax break as a married couple has been discarded.The Guardian reports that Frank Field's suggested amendment to the finance bill, which would have meant relatives who have resided together for more than ten... Wed, 9 Jul 2008 13:00:00 BST http://www.wilson-nesbitt.com/articles/842/30062008/moves_to_change_sibling_inheritance_rules.html Cohabiting siblings in Northern Ireland may soon receive the same rights as married and civil partnership couples regarding inheritance tax.An amendment has been proposed to the finance bill by Labour MP and former minister Frank Field.Under the plans, siblings who had lived together for ten... Mon, 30 Jun 2008 18:45:00 BST http://www.wilson-nesbitt.com/articles/832/24062008/ni_businesses_should_seek_advice_on_succession.html A succession plan is essential when a parent wishes to split a family business between heirs, reports Karen E Klein in the LA Times.Northern Ireland firms should consider Ms Klein's claims that when two siblings have contributed equally to the running or development of the business then a... Tue, 24 Jun 2008 13:38:00 BST http://www.wilson-nesbitt.com/articles/797/03062008/trusts_a_great_opportunity_for_lessening_inheritance_tax.html Well-planned trusts can prove a "very effective way" to reduce inheritance tax liabilities and ensure that as much of your wealth as possible is passed onto the next generation, according to expert Karen Dent.In an article for the Journal, Ms Dent has described trusts and... Tue, 3 Jun 2008 18:03:00 BST http://www.wilson-nesbitt.com/articles/783/27052008/families_of_injured_soldiers_could_be_iht_exempt.html The families of soldiers and other armed personnel injured in the line of duty are being advised to keep copies of their medical records as they could be exempt from inheritance tax (IHT) in the future.According to solicitors, the beneficiaries of people in their 80s or older who died as a... Tue, 27 May 2008 13:44:00 BST http://www.wilson-nesbitt.com/articles/764/14052008/care_home_financial_advice_essential.html Taking financial advice about retirement and care home provision is "essential", Saga has claimed.The magazine, insurance and holidays provider for the over-50s, has welcomed Gordon Brown's review on social care issues but claims that people in this age group still need to... Wed, 14 May 2008 13:30:00 BST http://www.wilson-nesbitt.com/articles/757/12052008/consumers_seeking_more_financial_advice.html The credit crunch has increased the number of people looking for financial advice, according to Unbiased.co.uk. Figures released by the independent website show that the number of people asking for advice on investments rose by 33 per cent.The same survey also revealed that the volume of people... Mon, 12 May 2008 13:54:00 BST http://www.wilson-nesbitt.com/articles/753/08052008/inheritances_twice_1997_level.html More people are liable to inheritance tax (IHT) bills as the average value of an inherited estate has risen to more than twice its 1997 level, according to a new study.The International Longevity Centre (ILC) has found that the average worth of an inherited estate has risen from its 1997 level of... Thu, 8 May 2008 13:54:00 BST http://www.wilson-nesbitt.com/articles/750/07052008/iht_problems_for_unmarried_couples.html Co-habiting couples who are not married or in civil partnerships are not entitled to the same inheritance tax (IHT) benefits as those who are, a firm of independent financial advisors has warned.Alex Pegley, director of Calculis, said that there is no such thing as a 'common law... Wed, 7 May 2008 13:33:00 BST http://www.wilson-nesbitt.com/articles/746/06052008/most_successful_companies_being_driven_abroad.html The government's tax policies are driving the best companies abroad to take advantage of more favourable tax rates, the Telegraph reports.Despite their previous "reputation for economic competence", the government's current tax policy problems, such as complicated... Tue, 6 May 2008 13:23:00 BST http://www.wilson-nesbitt.com/articles/735/30042008/sisters_lose_out_in_inheritance_tax_battle.html A pair of co-habiting elderly sisters has been told by the European court of human rights they have not been discriminated against under UK inheritance tax (IHT) regulations.The sisters had claimed that they should be entitled to the same IHT allowances as a married or civil partnership... Wed, 30 Apr 2008 14:00:00 BST http://www.wilson-nesbitt.com/articles/730/28042008/rich_list_shows_regions_increasing_wealth.html The Sunday Times Rich List has shown that Northern Ireland's wealthy have risen in fortune to £10.7 billion.The Belfast Telegraph reports that the province saw one of the largest increases in wealth of any region in Britain or Ireland.Building products and financial services magnate... Mon, 28 Apr 2008 13:47:00 BST http://www.wilson-nesbitt.com/articles/724/23042008/removing_emotive_aspects_important_in_estate_planning.html Ensuring that children are well-prepared for inheritance and what will happen to your estate when you die is as important as considering tax implications, according to Ian Driscoll in the Financial Times.New York trust counsel Susan Schoenfield said that too often people only concentrate on tax... Wed, 23 Apr 2008 15:00:00 BST http://www.wilson-nesbitt.com/articles/718/18042008/farmland_inheritance_tax_regulations_could_mean_the_end_of_family_farms.html Family farms in Northern Ireland are under threat from changes in the inheritance tax (IHT) system which may mean informally-let farmland is liable to the tax, it has been claimed.Belfast Today has reported that proposed legal changes could mean that IHT is paid by the many farmers across the... Fri, 18 Apr 2008 13:00:00 BST http://www.wilson-nesbitt.com/articles/715/17042008/inheritance_tax_regulations_left_body_shop_creators_inheritance_at_nil.html Body shop owner Anita Roddick gave nothing to her children in her will before her untimely death at age 64. Instead of leaving an estimated £51 million estate to her children, she gave the sum to charities for green issues, human rights and Third World debt. The value of her estate upon... Thu, 17 Apr 2008 17:48:00 BST http://www.wilson-nesbitt.com/articles/708/10042008/ni_consumers_need_more_advice_on_iht.html Most independent financial advisors believe that their clients do not understand the full effects of inheritance tax (IHT) on their estates, according to a Close Investments survey.In a survey of 196 independent financial advisors questioned during February 2008 84 per cent were found to believe... Thu, 10 Apr 2008 15:48:00 BST http://www.wilson-nesbitt.com/articles/691/02042008/iht_less_of_a_concern.html Most people "need not worry about inheritance tax" (IHT) because couples are now allowed to pool their inheritance tax allowances, according to a newspaper.British publication the Mirror claims that as the majority of people do not have an estate which is worth more than... Wed, 2 Apr 2008 16:27:00 BST http://www.wilson-nesbitt.com/articles/674/25032008/tax_advice_could_save_%C2%A393_billion_in_uk.html Solicitors in Northern Ireland could help save consumers thousands of pounds each on unnecessary inheritance tax (IHT), according to new research.Unbiased.co.uk has found that the UK's "tax waste mountain" will increase to £9.3 billion in 2008.That is a rise of... Tue, 25 Mar 2008 16:29:00 GMT http://www.wilson-nesbitt.com/articles/613/18022008/iht_generous_to_small_businesses.html Solicitors in Belfast and Northern Ireland are often asked to write up wills for small business owners indicating that the family firm will be left to another member.As solicitors will know, currently Inheritance Tax laws (IHT) covering Belfast and Northern Ireland mean that small businesses can... Mon, 18 Feb 2008 12:45:00 GMT http://www.wilson-nesbitt.com/articles/557/11012008/government_to_produce_taxpayers_charter.html After solicitors in Belfast and Northern Ireland have seen many clients complaining that they don't understand their tax obligations and tax forms, the government has announced a new Taxpayers' Charter will be published. HM Revenue & Customs (HMRC) has announced the launch of a... Fri, 11 Jan 2008 12:30:00 GMT http://www.wilson-nesbitt.com/articles/552/09012008/iht_planning_should_start_early.html Inheritance Tax (IHT) need not be a burden and though it is advisable to start planning early, it is never too late to begin, financial advisers have said.For homeowners in Belfast and Northern Ireland, sitting down with a solicitor to plan how to deal with IHT should be done as early as... Wed, 9 Jan 2008 12:00:00 GMT http://www.wilson-nesbitt.com/articles/405/10102007/darling_pledges_inheritance_tax_cut.html Chancellor Alistair Darling has announced that inheritance tax will be cut in his first pre-Budget Report.Solicitors in Northern Ireland may see more clients looking to buy houses as the inheritance tax threshold for married couples will be doubled from £300,000 to £600,000 with... Wed, 10 Oct 2007 13:00:00 BST http://www.wilson-nesbitt.com/articles/398/05102007/tories_offer_inheritance_tax_change.html The Conservative Party has announced it would cut inheritance tax costs for millions of people across Britain and Northern Ireland by increasing the threshold to £1 million.Shadow chancellor George Osborne announced at the Tories' conference in Blackpool that if the party got into... Fri, 5 Oct 2007 14:41:15 BST http://www.wilson-nesbitt.com/articles/352/10092007/sisters_treated_worse_than_lesbians.html Two sisters are taking an inheritance tax claim to the European court of human rights, claiming that the law in Britain and Northern Ireland offers them worse protection than if they were a lesbian couple. According to the Guardian, Joyce and Sybil Burden, both in their eighties, are appealing to... Mon, 10 Sep 2007 12:45:00 BST http://www.wilson-nesbitt.com/articles/294/30072007/accountants_face_greater_regulation.html Accountancy services in Britain and Northern Ireland will face greater regulation from December 15th 2007.Companies offering accountancy, tax, audit and insolvency services will be forced to undergo monitoring for compliance by an independent professional body or by HM Revenue & Customs,... Mon, 30 Jul 2007 09:15:00 BST http://www.wilson-nesbitt.com/articles/74/05042007/brits_wasting_money_in_inheritance_tax.html It has been claimed that people across Britain and Northern Ireland are wasting a combined total of £1.5 billion in inheritance tax.Figures released by Unbiased.co.uk have suggested that people could have avoided paying a total of £1.5 billion in inheritance tax last year if... Thu, 5 Apr 2007 15:00:00 BST http://www.wilson-nesbitt.com/articles/62/27032007/hmrc_confirm_iht_will_not_hit_childrens_trusts.html Solicitors and insurers have welcomed ultimate confirmation from HM Revenue & Customs (HMRC) that gifts in trusts left to minors will not be subject to inheritance tax (IHT) charges.Convoluted changes to the law last year inspired fears that gifts to under-18s might be taxed differently... Tue, 27 Mar 2007 14:00:00 BST http://www.wilson-nesbitt.com/articles/54/22032007/iht_threshold_increase_receives_lukewarm_welcome.html Chancellor Gordon Brown's budget on Wednesday included the announcement that the inheritance tax (IHT) threshold will increase from £285,000 to £300,000 in 2007-2008 with further incremental increases with the target of raising the bar to £350,000 by 2010.Experts... Thu, 22 Mar 2007 18:30:00 GMT http://www.wilson-nesbitt.com/articles/52/21032007/brown_could_reform_inheritance_tax.html It has been suggested that Gordon Brown could begin a complete overhaul of the inheritance tax system if he becomes prime minister.It is widely predicted that Mr Brown's 2007 Budget will be his last as chancellor, with most backing him to become prime minister when Tony Blair steps down... Wed, 21 Mar 2007 13:15:00 GMT