Gift With Reservation of Benefit

Figures from HMRC indicate that in the last two tax years £261 million of gifted assets came back into the IHT net because of a gift with reservation of benefit. The above statistic is from Freedom of Information requests made by the Daily Telegraph and published in an article in November last year.  The article…

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Cost of Dying to Increase

The government is to press ahead with plans to substantially increase the cost to bereaved families of settling the estates of deceased relatives. The plans will see some estates pay almost £6,000 more, but for estates worth less than £50,000, there will be no fees to pay at all. In England and Wales, probate fees,…

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You and a Local Authority Care Assessment

If you need help with everyday tasks, your local authority has a legal duty to carry out a care assessment to find out what help you need. Many people are put off by the idea of an assessment, but it’s not something you should worry about. A care needs assessment is simply a straightforward way…

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One in seven widows are missing out on valuable tax breaks

New data reveals that thousands of widows are missing out on valuable tax breaks on money inherited from their late husbands or wives. In 2015, the government introduced a new rule that allows spouses to claim an extra ISA allowance. This allowance, known as an Additional Permitted Subscription allowance (APS allowance), is available to the…

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Pensions cold-calling is finally banned

From January 9 2019, the cold-calling of savers about anything to do with their pensions will become illegal. The new law doesn’t just cover phone calls. Any unsolicited emails or text messages about your pension will also be illegal. As it stands, not every cold-call you receive about your pension is a scam, though many…

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