LAWSKILLS
LATEST POLL QUESTION
Cohabitants & the intestacy rules
Do you approve of the Law Commission's suggestion to include cohabitants in the intestacy rules?
The LawSkills team aim to inspire all private client practitioners to succeed in the new marketplace for legal services. LawSkills offers an invaluable consultancy resource to law firms and practitioners who want to provide a more informed, relevant service for their clients and staff.
Our training and professional development programmes are tailored to equip lawyers with all the skills they’ll ever need to negotiate and administer the complexities of Wills, Probate, Trusts & Tax law with confidence and certainty.
LawSkills. Helping Lawyers Manage
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Protecting farms post a flurry (or slurry!) of IHT cases - Arnander, McCall, Earl of Balfour
Farms and Estates are worth substantial sums of money which could result in large amounts of future inheritance tax liabilities (formerly known as “death duties”). The Tax Office is trying to collect a large amount of tax through attacks on farms and diversified farm activities.
LAWYER'S OPINION
Costs in Contentious & Non-contentious Probate & IPFD Act 1975 - Part 2
Following on from Part 1 (published in December 2009), Part 2 lists more precedents and principles to help recover the maximum amount of costs.
PERSONAL FINANCE
Discounted Gift Trusts (Part I): The Tax Savings and The Tax Costs
For well over a decade discounted gift trusts have enabled thousands of clients to make Potentially Exempt Transfers (and latterly Chargeable Lifetime Transfers (CLTs)) while retaining a regular capital withdrawal from the gift. All without falling foul of the FA 1986 gift with reservation of benefit provisions.PRACTICE MANAGEMENT
Marketing to Private Clients - Conclusion
My overriding message is that private client practitioners and firms of solicitors can no longer afford to sit back, worry and wait for the threats of the future. They have already arrived!
WORKING SMARTER
Going Mobile
So you have your office IT all set up but what about when you are out and about?
A-Z GLOSSARY SEE COMPLETE LIST
Business Property Relief (BPR)
BPR is a significant special relief for Inheritance Tax (IHT) which has the effect of reducing the value of business property before IHT is applied to the net value. It is subject to various conditions.
Relief under s. 104 IHTA 1984 is given automatically where it is due. It is given after Agricultural Property Relief (if that relief applies) and before available exemptions e.g. surviving spouse exemption. The benefit of the relief is obtained by making an appropriate deduction (with accompanying explanation) in the IHT 413.
