The Government’s third attempt at revamping the cost of obtaining grant of probate in England and Wales is much more modest in scope than the previous two. The introduction of the new fee structure is…
Unhappy families – challenging inheritance issues
The outcome of a recent High Court case is a warning for anyone challenging a will. As inheritances become more valuable, the number of disputes about wills have increased. Court cases rose by almost 50% to 188 in 2019 compared to…
Business Relief, IHT and Holiday Homes
There are various tax advantages to a rental property being treated as a furnished holiday letting, but inheritance tax (IHT) business relief is generally not one of them. Even though the law supports HMRC’s view,…
Wealth Divide Increase Through Inheritance
Research by the Institute for Fiscal Studies provides a stark warning of how important inheritances are going to be for younger generations in terms of both lifetime income and wealth. Wealth passed down from one…