Inheritance tax 2025 remains a significant concern for many families in the UK. It is a tax on the estate (property, money, and possessions) of someone who has passed away. As property values continue to rise, more estates are being caught in the inheritance tax net. Knowing the rules and exemptions can help families plan...
HMRC is writing to taxpayers who ceased to be UK-resident for a short period of time, urging them to ensure they have declared all of their income and gains on their return to the UK. Special rules apply to prevent individuals avoiding UK tax by leaving the UK for a period of five years or...
Several probate research firms have urged the government to tighten up security on unclaimed estates before considering republication of the Bona Vacantia list. The list was withdrawn from public view on 7 July 2025, after a BBC investigation suggested it was being exploited by organised criminals to obtain grants of representation over estates containing unoccupied property...
The UK government’s inheritance tax (IHT) receipts are on track to hit a staggering £9 billion by 2027, according to forecasts from the Office for Budget Responsibility (OBR). This sharp rise in UK Inheritance Tax (IHT) revenue reflects a combination of frozen thresholds and rising property values — factors that could impact many families who...
A major development in English probate law has emerged as the England and Wales Court of Appeal (EWCA) ruled that a secret trust claim over an estate may proceed to trial. This case is expected to have wide-reaching effects on how verbal agreements and informal understandings around inheritance are treated under UK law. If you’re...
Inheritance tax (IHT) is becoming an increasing concern for many UK families. With the nil-rate band of £325,000 and the residence nil-rate band of £175,000 frozen until 2030, more estates are being caught in the tax net due to rising property values. According to HMRC data, IHT receipts have surged to £8.2 billion from April...
A common source of confusion amongst clients is the difference between mutual wills and mirror wills. Both have distinct legal implications that can significantly impact your clients wishes. Mirror Wills are two almost identical wills typically created by long-term partners or spouses, where each person leaves their estate on the same terms, usually to each...
VULNERABLE CLIENT: The Celebrity’s statutory will hearing cannot be published In W v P (2025 EWCOP 11 T3), the wife of a now-incapacitated celebrity (P) applied to the England and Wales Court of Protection to make a statutory will for him for estate planning purposes. She asked for the associated hearing to be held privately. The judge decided...
The UK government’s decision to abolish the non-domicile (non-Dom) tax regime marks a significant shift for international individuals living there. This change brings both challenges and new opportunities for those affected. Understanding the implications and exploring strategic solutions is essential to staying ahead. What Is the Non-Dom Regime? The non-Dom regime allowed individuals who are...
Cryptocurrency is a growing asset class, but many individuals overlook its importance in estate planning. Unlike traditional assets, digital currencies require special considerations to ensure they are accessible and protected after an owner’s passing. Without proper planning, beneficiaries may struggle to recover these valuable assets. Why Cryptocurrency Estate Planning Matters Unlike cash or property, cryptocurrency...
Copyright by CareAccountancy. All rights reserved.
Copyright by CareAccountancy. All rights reserved.
