Bulletins

In Trust – Winter 2021/2022

Welcome to the Winter 2021/22 edition of In Trust. This is my third issue as the Head of the Private Client Team at Wedlake Bell. This year, our team has… Read more →

News

Reforms to taxes: an update

There continues to be much speculation on how the UK Government (and global governments) will pay for the costs of the pandemic, and if and when significant tax rises will… Read more →

News

Changes to the Trust Register rules

We highlighted in the Winter 2020/21 issue of In Trust that the law was changing in respect of the registration of trusts with HM Revenue & Customs (“HMRC“), meaning that… Read more →

News

Private Client Team News

The last half-year has been a busy one for the Wedlake Bell Private Client Team with lots of new faces joining us, and some exciting promotions, awards and accolades to… Read more →

News

Legal experts comment on today’s Budget: Chancellor proposes to increase overall tax take by stealth

Partners Jenny Cutts and Oliver Embley have been quoted in IFA Magazine, commenting on the Chancellor’s Autumn Budget announcements. Jenny Cutts, comments:“The much-predicated tax hikes did not arrive in the… Read more →

News

A TAXING YEAR

The pandemic has resulted in UK and worldwide government spending on an unprecedented scale. In the UK, the estimated spending on the pandemic is expected to reach £372 billion* and… Read more →

News

Plague, Pestilence and Taxes

The pandemic has resulted in UK and worldwide government spending on an unprecedented scale.  In the UK, the estimated spending on the pandemic is expected to amount to £372 billion*… Read more →

News

CONVEYANCING AFTER DEATH

The last year has seen us all receive an unprecedented amount of information about death rates and infection levels in relation to Covid19 which has touched us all in one… Read more →

News

The murky world of unregulated heir hunters

Head of the Private Client, Jenny Cutts has been quoted in The Times, discussing her response to new research that shows local authorities are entering into anti-competitive and unaccountable contracts… Read more →

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Tax day: What does the future hold for IHT?

In the first government “Tax Day” yesterday, more than 30 different publications were issued by the Treasury in relation to the government’s tax policy. It had been expected that these… Read more →

News

Stop Press

On 9 December 2020, the UK’s Wealth Tax Commission published a report on the feasibility of a wealth tax in the UK. It proposed the introduction of a one-off tax… Read more →

News

Welcome to the Winter 2021 edition of In Trust

This is my first issue as the newly appointed Head of the Private Client Team at Wedlake Bell. Part of my role is to ensure that we continue to enhance and… Read more →

News

Review of Capital Gains Tax – Major Reforms Proposed

Against the backdrop of much speculation over the combination of tax hikes that will be introduced to pay for the government’s Covid-19 spending, the Office of Tax Simplification (“OTS”) published… Read more →

News

The Office of Tax Simplification – Capital Gains Tax review – Call for Evidence Consultation Response: Wedlake Bell LLP

The Chancellor, Rishi Sunak, has asked the Office of Tax Simplification (“OTS“) to review capital gains tax (“CGT“) and their ‘Call for Evidence’ was published on 14 July 2020. The… Read more →

News

UHNW estate planning during a market crash – Transferring wealth to the next generation- ePrivateClient

Head of the Private Client Team, Jenny Cutts, discusses whether the impact of a market crash and lower asset values provides opportunities for ultra-high-net-worth individuals to carry out estate planning… Read more →

News

The Chancellor’s Capital Gains Tax review: is a tax hike around the corner?

After announcing a further £30bn worth of policies and tax cuts in his summer statement, it seems logical to assume that the Chancellor Rishi Sunak is looking for ways to… Read more →

News

COVID-19 – WEALTH PROTECTION AND PLANNING IN TIMES OF DISTRESS

The coronavirus pandemic has pervaded all aspects of life, both personal and professional, without discrimination.  Below are some essential legal housekeeping tips to keep on top of your affairs and… Read more →

News

Fifth Money Laundering Directive and Trust Registration Service

We have responded to H M Treasury’s further consultation on the proposed changes to the Trust Registration Service (TRS) which was published last month in order to test whether the… Read more →

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Private Client Team Awards and News

Awards Ranked in Tier I of eprivateclient’s Top Law Firms 2019   Private Client team shortlisted for STEP’s ‘Private Client Legal Team of the Year – mid size’ Camilla Wallace, Head… Read more →

News

Government scraps proposed probate “Death -Tax”

The Government announced in November 2018 that it was reintroducing its proposals to increase the costs of applying for grant of probate that they originally tried to get through Parliament… Read more →

News

Transposition of the Fifth Money Laundering Directive – Consultation Response: Wedlake Bell LLP

In April 2019, H M Treasury published its consultation concerning the government’s approach and its plans for the implementation of the EU Fifth Money Laundering Directive (5MLD) into national law.… Read more →

News

Capital Gains Tax: Private Residence Relief: changes to the ancillary reliefs -Consultation Response: Wedlake Bell LLP

On 1 April 2019, HM Revenue & Customs published its consultation concerning the changes to Capital Gains Tax (CGT) and Private Residence Relief. Briefly, Budget 2018 announced that the final… Read more →

News

Government presses ahead with probate fees “death tax” – FT Adviser 12/03/2019

The current cost of applying a grant of probate in England and Wales (the document giving the personal representatives legal authority to take charge over the deceased’s affairs) is set… Read more →

News

Government reintroduces probate “death-tax”

The Government announced in November that it is reintroducing its controversial proposals to increase the costs of applying for grant of probate that they originally tried to get through Parliament… Read more →

News

Why make a will?

A Will is a legal document in which a person declares their intention as to what should happen to their assets after their death. You are not legally obliged to… Read more →

News

Keeping wealth in the family: Pre-nuptial agreements and wills

The case of KA v MA (2018) highlights the role that pre-nuptial agreements have in preserving family wealth, confirming that when a pre-nuptial agreement is entered into, it is possible… Read more →

Bulletins

Brexit and making a will for your EU assets

Traditionally, if you had assets in an EU country, it was generally recommended to take legal advice in that country on making a Will there. However, this all changed on… Read more →

Bulletins

HMRC’s Trust Register

In recent years, trustees have seen the introduction of new compliance regimes aimed at tackling money laundering and terrorist financing. The recent attention-grabbing headlines concerning the Paradise Papers data leak… Read more →

Bulletins

Election kills probate ‘stealth tax’

Controversial changes to probate fees have been scrapped ahead of the upcoming election, the government confirmed today. The probate fee overhaul, announced earlier this year, would set fees in line… Read more →

Bulletins

A family affair – protecting family assets

With 42 per cent of marriages ending in divorce, it’s important when advising wealthy clients to put mechanisms in place to protect family assets. Jenny Cutts provides a guide on… Read more →

Bulletins

New Inheritance Tax Relief for the Family Home

Inheritance tax (“IHT”) is charged on your death at the rate of 40% based on the value of your assets. This 40% rate is only charged on any value exceeding… Read more →

Bulletins

News focus: probate ‘band’ aid for hard-up courts

Administering another ‘death tax’ will create problems for solicitors, who also question whether it is right for the bereaved to subsidise the courts and tribunal service. A death tax’ which… Read more →

Bulletins

Probate fees increase for high-value estates

Disappointingly, the Ministry of Justice has confirmed that it is going ahead with its controversial proposals to increase the costs of applying for grant of probate under which the maximum… Read more →

Bulletins

Should I give my children a lump sum now?

How much money can I give away to my children without tax penalties? Jenny Cutts answers a readers questions in the Financial Times published 8 March 2016. To view the… Read more →

Bulletins

News focus: band aid for hard-up courts

Jenny Cutts was quoted in the Law Gazette about how administering another ‘death tax’ will create problems for solicitors, who also question whether it is right for the bereaved to… Read more →

Bulletins

Bureaucracy unlikely to stop abuse of trusts

The Fourth Money Laundering Directive is more likely to provide paperwork than protection from abuse of trusts for tax evasion and terrorism says Jenny Cutts. Headline grabbing scandals on the… Read more →

Bulletins

Wedlake Bell responds to plans for a central UK trusts register

The global drive for greater transparency of corporate and other legal entities continues. In an attempt to prevent money laundering, terrorist financing, tax evasion and other financial crime, one of… Read more →

Bulletins

A family affair

With 42 per cent of marriages ending in divorce, it is important when advising wealthy clients to put mechanisms in place to protect family assets. Jenny Cutts and Rosie Schumm… Read more →

Bulletins

Why the probate fee is yet another ‘stealth’ tax on wealth

The government’s proposed changes to probate fees would be a bitter pill for many HNWs to swallow, say Jenny Cutts and Caroline Cook in Spear’s Magazine. This article was first… Read more →

Bulletins

Inheritance Tax planning under the spotlight

There is a fine line between legitimate tax planning and tax avoidance. The latter can be caught under the statutory “general anti-avoidance rule” if it constitutes a tax arrangement that… Read more →

Bulletins

Probate Fees Hike: Wedlake Bell Response

On 18 February 2016 the government announced proposals to dramatically increase the costs of applying for a grant of probate. Currently, the maximum fee payable to obtain probate is £215,… Read more →

Bulletins

CGT: has second home “flipping” had its day?

The Finance Bill 2014, published on 10 December 2013, contained further details of the changes announced in the Chancellor’s Autumn Statement on second home “flipping” for capital gains tax (CGT).… Read more →